BP PLC increased its position in Medtronic PLC (NYSE:MDT) by 69.6% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 173,000 shares of the medical technology company’s stock after buying an additional 71,000 shares during the period. BP PLC’s holdings in Medtronic PLC were worth $13,937,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the company. Scotia Capital Inc. boosted its position in shares of Medtronic PLC by 35.2% in the fourth quarter. Scotia Capital Inc. now owns 74,540 shares of the medical technology company’s stock valued at $5,312,000 after buying an additional 19,395 shares during the period. Gratus Capital LLC boosted its position in shares of Medtronic PLC by 1.0% in the fourth quarter. Gratus Capital LLC now owns 65,457 shares of the medical technology company’s stock valued at $4,662,000 after buying an additional 658 shares during the period. Broadfin Capital LLC purchased a new stake in Medtronic PLC during the fourth quarter valued at $5,342,000. Roundview Capital LLC purchased a new stake in Medtronic PLC during the fourth quarter valued at $284,000. Finally, A.R.T. Advisors LLC purchased a new stake in Medtronic PLC during the fourth quarter valued at $783,000. Institutional investors and hedge funds own 83.36% of the company’s stock.
Shares of Medtronic PLC (NYSE MDT) traded down 0.64% during trading on Tuesday, reaching $83.83. 3,825,259 shares of the company were exchanged. The firm has a market capitalization of $113.93 billion, a P/E ratio of 29.01 and a beta of 1.02. Medtronic PLC has a 1-year low of $69.35 and a 1-year high of $89.72. The firm’s 50 day moving average is $86.89 and its 200 day moving average is $82.57.
Medtronic PLC (NYSE:MDT) last issued its quarterly earnings results on Thursday, May 25th. The medical technology company reported $1.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.02. Medtronic PLC had a return on equity of 12.72% and a net margin of 13.56%. The firm had revenue of $7.92 billion during the quarter, compared to analysts’ expectations of $7.86 billion. During the same period in the previous year, the business earned $1.27 earnings per share. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities analysts anticipate that Medtronic PLC will post $4.81 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th were issued a $0.46 dividend. This is a boost from Medtronic PLC’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a yield of 2.19%. The ex-dividend date was Wednesday, July 5th. Medtronic PLC’s dividend payout ratio is presently 63.67%.
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Several brokerages recently issued reports on MDT. UBS AG reissued a “buy” rating and set a $95.00 target price (up from $94.00) on shares of Medtronic PLC in a research note on Tuesday, May 30th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $103.00 price objective on shares of Medtronic PLC in a research note on Thursday, August 3rd. CIBC reaffirmed a “buy” rating on shares of Medtronic PLC in a research note on Friday, May 26th. Barclays PLC reaffirmed an “overweight” rating and issued a $94.00 price objective (up from $92.00) on shares of Medtronic PLC in a research note on Sunday, May 28th. Finally, Cowen and Company reissued an “outperform” rating and set a $95.00 price target (up from $86.00) on shares of Medtronic PLC in a research report on Sunday, May 28th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $89.84.
In other Medtronic PLC news, Director Richard H. Anderson purchased 5,600 shares of the firm’s stock in a transaction dated 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 purchase, the director now directly owns 71,910 shares in the company, valued at approximately $6,392,799. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Bryan C. Hanson sold 12,000 shares of the company’s 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. Corporate insiders own 0.25% of the company’s stock.
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.
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