Medtronic PLC (MDT) Position Lessened by Dodge & Cox
Dodge & Cox reduced its position in shares of Medtronic PLC (NYSE:MDT) by 5.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,583,871 shares of the medical technology company’s stock after selling 628,405 shares during the period. Dodge & Cox owned 0.85% of Medtronic PLC worth $1,028,069,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Hudock Capital Group LLC boosted its holdings in shares of Medtronic PLC by 0.5% during the 2nd quarter. Hudock Capital Group LLC now owns 2,195 shares of the medical technology company’s stock worth $194,000 after buying an additional 11 shares during the period. Bollard Group LLC boosted its holdings in Medtronic PLC by 0.4% in the 2nd quarter. Bollard Group LLC now owns 3,651 shares of the medical technology company’s stock valued at $324,000 after purchasing an additional 14 shares during the period. Triangle Securities Wealth Management boosted its holdings in Medtronic PLC by 0.3% in the 2nd quarter. Triangle Securities Wealth Management now owns 4,396 shares of the medical technology company’s stock valued at $390,000 after purchasing an additional 15 shares during the period. IFC Holdings Incorporated FL boosted its holdings in Medtronic PLC by 0.3% in the 2nd quarter. IFC Holdings Incorporated FL now owns 5,673 shares of the medical technology company’s stock valued at $501,000 after purchasing an additional 17 shares during the period. Finally, North Star Investment Management Corp. boosted its holdings in Medtronic PLC by 1.1% in the 2nd quarter. North Star Investment Management Corp. now owns 1,995 shares of the medical technology company’s stock valued at $177,000 after purchasing an additional 22 shares during the period. 80.91% of the stock is owned by institutional investors and hedge funds.
In other Medtronic PLC news, CEO Omar Ishrak sold 140,407 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 668,503 shares in the company, valued at approximately $54,569,899.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Bryan C. Hanson sold 16,000 shares of the firm’s stock in a transaction dated 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. Company insiders own 0.31% of the company’s stock.
MDT has been the subject of a number of research reports. Jefferies Group LLC reduced their price target on shares of Medtronic PLC from $103.00 to $96.00 and set a “buy” rating for the company in a report on Wednesday, August 23rd. Deutsche Bank AG set a $96.00 price target on shares of Medtronic PLC and gave the company a “buy” rating in a report on Monday, July 31st. BidaskClub downgraded shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Medtronic PLC in a report on Tuesday, July 18th. Finally, Cowen and Company set a $95.00 price target on shares of Medtronic PLC and gave the company a “buy” rating in a report on Tuesday, August 22nd. Three analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company. Medtronic PLC presently has a consensus rating of “Hold” and an average price target of $87.88.
Shares of Medtronic PLC (NYSE:MDT) opened at $79.33 on Friday. The stock has a market cap of $107,459.70, a PE ratio of 16.91, a P/E/G ratio of 2.20 and a beta of 1.00. The company has a current ratio of 1.64, a quick ratio of 1.40 and a debt-to-equity ratio of 0.51. Medtronic PLC has a 1 year low of $69.35 and a 1 year high of $89.72.
Medtronic PLC (NYSE:MDT) last announced its earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. The business had revenue of $7.39 billion during 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 for the quarter was up 3.1% on a year-over-year basis. During the same quarter last year, the company posted $1.03 EPS. analysts expect that Medtronic PLC will post 4.66 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 20th. Shareholders of record on Friday, September 29th were given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.32%. The ex-dividend date was Thursday, September 28th. Medtronic PLC’s payout ratio is presently 61.95%.
About Medtronic PLC
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.
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