Altavista Wealth Management Inc. trimmed its holdings in shares of Medtronic PLC (NYSE:MDT) by 25.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,527 shares of the medical technology company’s stock after selling 860 shares during the period. Altavista Wealth Management Inc.’s holdings in Medtronic PLC were worth $204,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in the stock. Waldron LP purchased a new position in Medtronic PLC in the 1st quarter valued at about $512,000. Acadian Asset Management LLC acquired a new stake in Medtronic PLC during the first quarter worth about $694,000. Riverbridge Partners LLC raised its stake in Medtronic PLC by 0.5% during the first quarter. Riverbridge Partners LLC now owns 245,079 shares of the medical technology company’s stock worth $19,744,000 after acquiring an additional 1,248 shares during the period. First Citizens Bank & Trust Co. grew its position in Medtronic PLC by 0.6% in the 1st quarter. First Citizens Bank & Trust Co. now owns 11,802 shares of the medical technology company’s stock worth $951,000 after purchasing an additional 67 shares during the last quarter. Finally, Dock Street Asset Management Inc. bought a new position in Medtronic PLC in the 1st quarter worth about $226,000. 80.75% of the stock is owned by hedge funds and other institutional investors.
In other Medtronic PLC news, EVP Bryan C. Hanson sold 12,000 shares of the stock in a transaction on Monday, July 17th. The stock was sold at an average price of $88.57, for a total value of $1,062,840.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard H. Anderson acquired 5,600 shares of the firm’s stock in a transaction on Wednesday, June 21st. The stock was purchased at an average price of $88.90 per share, with a total value of $497,840.00. Following the acquisition, the director now owns 71,910 shares of the company’s stock, valued at approximately $6,392,799. The disclosure for this purchase can be found here. Insiders own 0.31% of the company’s stock.
Several research analysts have recently issued reports on the stock. BidaskClub upgraded shares of Medtronic PLC from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. Zacks Investment Research cut shares of Medtronic PLC from a “hold” rating to a “sell” rating in a report on Tuesday. Cowen and Company restated an “outperform” rating and issued a $95.00 price target (up previously from $86.00) on shares of Medtronic PLC in a research report on Sunday, May 28th. CIBC restated a “buy” rating on shares of Medtronic PLC in a research report on Friday, May 26th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $103.00 target price on shares of Medtronic PLC in a research report on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company. Medtronic PLC currently has an average rating of “Hold” and a consensus target price of $88.78.
Medtronic PLC (NYSE:MDT) traded up 0.11% on Friday, hitting $81.89. 3,443,968 shares of the stock traded hands. The stock has a 50-day moving average price of $82.25 and a 200 day moving average price of $83.64. The company has a market cap of $110.93 billion, a price-to-earnings ratio of 27.56 and a beta of 1.03. Medtronic PLC has a 1-year low of $69.35 and a 1-year high of $89.72.
Medtronic PLC (NYSE:MDT) last issued its quarterly earnings data on Tuesday, August 22nd. The medical technology company reported $1.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.04. The company had revenue of $7.39 billion during 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%. Medtronic PLC’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.03 earnings per share. On average, analysts anticipate that Medtronic PLC will post $4.77 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, September 29th will be given a $0.46 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.84 annualized dividend and a yield of 2.25%. Medtronic PLC’s payout ratio is currently 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.
Receive News & Ratings for Medtronic PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic PLC and related companies with our FREE daily email newsletter.