Virtu KCG Holdings LLC reduced its position in shares of Medtronic PLC (NYSE:MDT) by 66.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,238 shares of the medical technology company’s stock after selling 28,000 shares during the quarter. Virtu KCG Holdings LLC’s holdings in Medtronic PLC were worth $1,264,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Ropes Wealth Advisors LLC increased its stake in Medtronic PLC by 1.3% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 6,655 shares of the medical technology company’s stock valued at $591,000 after purchasing an additional 88 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Medtronic PLC during the 2nd quarter valued at about $38,518,000. Parametric Portfolio Associates LLC increased its stake in Medtronic PLC by 14.7% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 2,133,384 shares of the medical technology company’s stock valued at $189,338,000 after purchasing an additional 272,759 shares in the last quarter. Roundview Capital LLC increased its stake in Medtronic PLC by 12.8% during the 2nd quarter. Roundview Capital LLC now owns 6,901 shares of the medical technology company’s stock valued at $612,000 after purchasing an additional 785 shares in the last quarter. Finally, WealthPLAN Partners LLC increased its stake in Medtronic PLC by 2,859.9% during the 2nd quarter. WealthPLAN Partners LLC now owns 26,580 shares of the medical technology company’s stock valued at $2,359,000 after purchasing an additional 25,682 shares in the last quarter. Institutional investors and hedge funds own 81.37% of the company’s stock.
Medtronic PLC (NYSE:MDT) opened at $79.20 on Tuesday. Medtronic PLC has a 1-year low of $69.35 and a 1-year high of $89.72. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.64 and a quick ratio of 1.40. The company has a market cap of $107,459.70, a price-to-earnings ratio of 16.92, a PEG ratio of 2.19 and a beta of 1.00.
Medtronic PLC (NYSE:MDT) last released its earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.08 by $0.04. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. The firm had revenue of $7.39 billion for the quarter, compared to the consensus estimate of $7.44 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. research analysts expect that Medtronic PLC will post 4.66 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 20th. Stockholders of record on Friday, September 29th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.32%. The ex-dividend date was Thursday, September 28th. Medtronic PLC’s dividend payout ratio (DPR) is presently 61.95%.
A number of analysts have recently commented on the stock. Deutsche Bank AG set a $96.00 price target on shares of Medtronic PLC and gave the stock a “buy” rating in a research note on Monday, July 31st. BidaskClub lowered shares of Medtronic PLC from a “hold” rating to a “sell” rating in a research note on Saturday, August 26th. Royal Bank Of Canada reduced their price target on shares of Medtronic PLC from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Monday, October 9th. BMO Capital Markets reiterated an “outperform” rating and issued a $92.00 price target (down from $94.00) on shares of Medtronic PLC in a research note on Wednesday, August 23rd. Finally, Zacks Investment Research upgraded shares of Medtronic PLC from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $87.88.
In other news, EVP Bryan C. Hanson sold 16,000 shares of the business’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $78.03, for a total value of $1,248,480.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Omar Ishrak sold 140,407 shares of the business’s 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 completion of the sale, the chief executive officer now owns 668,503 shares in the company, valued at approximately $54,569,899.89. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.
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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