Wesbanco Bank Inc. lifted its position in Medtronic PLC (NYSE:MDT) by 3.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,170 shares of the medical technology company’s stock after acquiring an additional 308 shares during the quarter. Wesbanco Bank Inc.’s holdings in Medtronic PLC were worth $903,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Dupont Capital Management Corp lifted its holdings in shares of Medtronic PLC by 28.8% in the 2nd quarter. Dupont Capital Management Corp now owns 74,052 shares of the medical technology company’s stock worth $6,572,000 after acquiring an additional 16,562 shares during the last quarter. RMB Capital Management LLC bought a new stake in shares of Medtronic PLC in the 1st quarter worth about $4,576,000. Lazard Asset Management LLC lifted its holdings in shares of Medtronic PLC by 1,061.4% in the 1st quarter. Lazard Asset Management LLC now owns 13,678,772 shares of the medical technology company’s stock worth $1,101,960,000 after acquiring an additional 12,500,992 shares during the last quarter. WealthTrust Arizona LLC lifted its holdings in shares of Medtronic PLC by 9.7% in the 2nd quarter. WealthTrust Arizona LLC now owns 4,994 shares of the medical technology company’s stock worth $443,000 after acquiring an additional 441 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Medtronic PLC by 7.3% in the 1st quarter. Geode Capital Management LLC now owns 13,308,812 shares of the medical technology company’s stock worth $1,070,622,000 after acquiring an additional 906,581 shares during the last quarter. Hedge funds and other institutional investors own 80.60% of the company’s stock.

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Several equities research analysts have recently issued reports on MDT shares. Zacks Investment Research lowered shares of Medtronic PLC from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. Stifel Nicolaus decreased their price objective on shares of Medtronic PLC from $91.00 to $83.00 and set a “hold” rating for the company in a report on Monday, October 9th. Wells Fargo & Company lowered shares of Medtronic PLC from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $93.00 to $83.00 in a report on Monday, October 9th. Leerink Swann reiterated a “market perform” rating and set a $85.00 price objective (down previously from $88.00) on shares of Medtronic PLC in a report on Monday, October 9th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $92.00 price objective (down previously from $94.00) on shares of Medtronic PLC in a report on Wednesday, August 23rd. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $87.88.

In related news, CEO Omar Ishrak sold 140,407 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $81.63, for a total value of $11,461,423.41. Following the sale, the chief executive officer now owns 668,503 shares of the company’s stock, valued at $54,569,899.89. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Bryan C. Hanson sold 16,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $78.03, for a total transaction of $1,248,480.00. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Medtronic PLC (MDT) opened at 78.34 on Friday. Medtronic PLC has a 12 month low of $69.35 and a 12 month high of $89.72. The stock has a market cap of $106.12 billion, a P/E ratio of 26.37 and a beta of 1.01. The stock has a 50 day moving average of $79.37 and a 200-day moving average of $83.11.

Medtronic PLC (NYSE:MDT) last issued its earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.04. The firm had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.44 billion. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. The firm’s revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 earnings per share. On average, equities analysts forecast that Medtronic PLC will post $4.63 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 20th. Investors of record on Friday, September 29th were issued a $0.46 dividend. The ex-dividend date was Thursday, September 28th. This represents a $1.84 annualized dividend and a yield of 2.35%. Medtronic PLC’s dividend payout ratio (DPR) is 61.95%.

Medtronic PLC Company Profile

Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.

Institutional Ownership by Quarter for Medtronic PLC (NYSE:MDT)

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