Trust Department MB Financial Bank N A maintained its position in Medtronic PLC (NYSE:MDT) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,105 shares of the medical technology company’s stock at the close of the 2nd quarter. Trust Department MB Financial Bank N A’s holdings in Medtronic PLC were worth $631,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Israel Discount Bank of New York acquired a new stake in Medtronic PLC during the first quarter worth approximately $117,000. Birch Hill Investment Advisors LLC acquired a new stake in Medtronic PLC during the first quarter worth approximately $120,000. Farmers National Bank acquired a new stake in Medtronic PLC during the first quarter worth approximately $121,000. Proficio Capital Partners LLC raised its holdings in Medtronic PLC by 33.3% during the first quarter. Proficio Capital Partners LLC now owns 1,811 shares of the medical technology company’s stock worth $153,000 after purchasing an additional 452 shares in the last quarter. Finally, Harbour Capital Advisors LLC acquired a new stake in Medtronic PLC during the first quarter worth approximately $154,000. 80.62% of the stock is currently owned by institutional investors.
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In other Medtronic PLC news, Director Richard H. Anderson purchased 5,600 shares of the stock in a transaction dated Wednesday, June 21st. The shares were bought at an average cost of $88.90 per share, with a total value of $497,840.00. Following the completion of the acquisition, the director now owns 71,910 shares of the company’s stock, valued at $6,392,799. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Omar Ishrak sold 140,407 shares of the firm’s stock in a transaction 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 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 currently owned by company insiders.
MDT has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of Medtronic PLC from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. Evercore ISI reaffirmed an “outperform” rating and issued a $91.00 target price (up from $88.50) on shares of Medtronic PLC in a report on Sunday, May 28th. BMO Capital Markets lifted their target price on shares of Medtronic PLC from $87.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday, May 30th. Morgan Stanley lifted their target price on shares of Medtronic PLC from $84.00 to $86.00 and gave the company an “equal weight” rating in a report on Tuesday, May 30th. Finally, BidaskClub cut shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the stock. Medtronic PLC presently has a consensus rating of “Hold” and an average price target of $88.78.
Shares of Medtronic PLC (NYSE:MDT) traded down 0.8091% during midday trading on Tuesday, hitting $81.7333. 2,793,151 shares of the company’s stock traded hands. Medtronic PLC has a 52 week low of $69.35 and a 52 week high of $89.72. The company has a 50 day moving average of $82.12 and a 200 day moving average of $83.68. The stock has a market cap of $110.72 billion, a P/E ratio of 27.5104 and a beta of 1.03.
Medtronic PLC (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.04. The company had revenue of $7.39 billion for the quarter, compared to analyst estimates of $7.44 billion. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period last year, the company earned $1.03 earnings per share. On average, equities analysts forecast that Medtronic PLC will post $4.77 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Thursday, September 28th. Medtronic PLC’s dividend payout ratio (DPR) is 61.95%.
Medtronic PLC 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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