Evercore Wealth Management LLC Sells 8,255 Shares of Medtronic PLC (MDT)
Evercore Wealth Management LLC cut its holdings in shares of Medtronic PLC (NYSE:MDT) by 31.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,137 shares of the medical technology company’s stock after selling 8,255 shares during the period. Evercore Wealth Management LLC’s holdings in Medtronic PLC were worth $1,610,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Parkside Financial Bank & Trust boosted its position in Medtronic PLC by 22.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock worth $102,000 after buying an additional 210 shares during the period. BDO Wealth Advisors LLC acquired a new stake in Medtronic PLC during the 2nd quarter worth approximately $103,000. Motco boosted its position in Medtronic PLC by 8.7% during the 2nd quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after buying an additional 99 shares during the period. Farmers National Bank acquired a new stake in Medtronic PLC during the 1st quarter worth approximately $121,000. Finally, Norway Savings Bank boosted its position in Medtronic PLC by 2.7% during the 2nd quarter. Norway Savings Bank now owns 1,427 shares of the medical technology company’s stock worth $127,000 after buying an additional 38 shares during the period. Institutional investors and hedge funds own 81.37% of the company’s stock.
In other Medtronic PLC news, EVP Bryan C. Hanson sold 16,000 shares of Medtronic PLC stock in a transaction 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Omar Ishrak sold 140,407 shares of Medtronic PLC stock in a transaction on Friday, September 15th. The stock was sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the transaction, the chief executive officer now directly owns 668,503 shares in the company, valued at $54,569,899.89. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.
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Shares of Medtronic PLC (NYSE:MDT) opened at $79.20 on Tuesday. The company has a market cap of $107,459.70, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 2.19 and a beta of 1.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.40 and a current ratio of 1.64. Medtronic PLC has a one year low of $69.35 and a one year high of $89.72.
Medtronic PLC (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 EPS for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.04. The business had revenue of $7.39 billion during the quarter, compared to analyst estimates of $7.44 billion. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. Medtronic PLC’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.03 EPS. equities research analysts forecast that Medtronic PLC will post 4.66 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 20th. Shareholders of record on Friday, September 29th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Thursday, September 28th. Medtronic PLC’s dividend payout ratio is 61.95%.
MDT has been the subject of several analyst reports. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Medtronic PLC in a report on Tuesday, July 18th. BidaskClub lowered shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Deutsche Bank AG set a $96.00 price target on shares of Medtronic PLC and gave the stock a “buy” rating in a report on Monday, July 31st. Zacks Investment Research lowered shares of Medtronic PLC from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, Jefferies Group LLC restated a “buy” rating and set a $103.00 price target on shares of Medtronic PLC in a report on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $87.88.
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.
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