Bank of Montreal Can Purchases 840,940 Shares of Medtronic PLC (MDT)

Bank of Montreal Can grew its position in shares of Medtronic PLC (NYSE:MDT) by 50.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,522,453 shares of the medical technology company’s stock after purchasing an additional 840,940 shares during the quarter. Bank of Montreal Can owned approximately 0.19% of Medtronic PLC worth $223,868,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Medtronic PLC by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 102,321,656 shares of the medical technology company’s stock valued at $8,243,034,000 after purchasing an additional 4,412,536 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Medtronic PLC by 2,513.4% during the 1st quarter. BlackRock Inc. now owns 87,035,376 shares of the medical technology company’s stock valued at $7,011,571,000 after purchasing an additional 83,705,052 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Medtronic PLC by 3.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 58,646,070 shares of the medical technology company’s stock valued at $4,724,526,000 after purchasing an additional 1,729,715 shares in the last quarter. Lazard Asset Management LLC increased its holdings in shares of Medtronic PLC by 1,061.4% during the 1st quarter. Lazard Asset Management LLC now owns 13,678,772 shares of the medical technology company’s stock valued at $1,101,960,000 after purchasing an additional 12,500,992 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Medtronic PLC by 7.3% during the 1st quarter. Geode Capital Management LLC now owns 13,308,812 shares of the medical technology company’s stock valued at $1,070,622,000 after purchasing an additional 906,581 shares in the last quarter. 80.75% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Richard H. Anderson acquired 5,600 shares of the firm’s stock in a transaction that occurred on Wednesday, June 21st. The shares were acquired at an average price of $88.90 per share, with a total value of $497,840.00. Following the completion of the purchase, the director now directly owns 71,910 shares in the company, valued at $6,392,799. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Bryan C. Hanson sold 12,000 shares of the stock in a transaction on Monday, July 17th. The shares were sold at an average price of $88.57, for a total value of $1,062,840.00. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

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Several equities analysts have recently weighed in on the stock. William Blair reaffirmed an “outperform” rating on shares of Medtronic PLC in a report on Thursday, July 6th. BidaskClub raised shares of Medtronic PLC from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. Wells Fargo & Company reissued an “outperform” rating on shares of Medtronic PLC in a report on Wednesday, July 12th. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Medtronic PLC in a report on Tuesday, July 18th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $95.00 price target (up previously from $91.00) on shares of Medtronic PLC in a report on Thursday, May 25th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $88.78.

Shares of Medtronic PLC (NYSE MDT) traded up 0.39% on Friday, hitting $82.12. 9,563,374 shares of the stock traded hands. The company has a market cap of $111.24 billion, a PE ratio of 27.64 and a beta of 1.03. The firm’s 50 day moving average is $82.18 and its 200-day moving average is $83.65. Medtronic PLC has a 12 month low of $69.35 and a 12 month 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 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.04. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The business had revenue of $7.39 billion during the quarter, compared to analysts’ expectations of $7.44 billion. During the same quarter last year, the business posted $1.03 earnings per share. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. Equities analysts predict that Medtronic PLC will post $4.77 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, September 29th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Thursday, September 28th. Medtronic PLC’s dividend payout ratio is currently 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.

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

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