Cibc World Markets Corp boosted its stake in shares of Medtronic PLC (NYSE:MDT) by 57.1% during the first quarter, Holdings Channel reports. The fund owned 142,961 shares of the medical technology company’s stock after buying an additional 51,947 shares during the period. Cibc World Markets Corp’s holdings in Medtronic PLC were worth $11,517,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of MDT. JNBA Financial Advisors increased its stake in Medtronic PLC by 0.4% in the first quarter. JNBA Financial Advisors now owns 47,047 shares of the medical technology company’s stock valued at $3,790,000 after buying an additional 200 shares during the last quarter. Robecosam AG increased its stake in Medtronic PLC by 15.0% in the first quarter. Robecosam AG now owns 73,874 shares of the medical technology company’s stock valued at $5,983,000 after buying an additional 9,622 shares during the last quarter. Noesis Capital Mangement Corp increased its stake in Medtronic PLC by 1.8% in the first quarter. Noesis Capital Mangement Corp now owns 112,255 shares of the medical technology company’s stock valued at $9,043,000 after buying an additional 1,975 shares during the last quarter. Isthmus Partners LLC increased its stake in Medtronic PLC by 0.3% in the first quarter. Isthmus Partners LLC now owns 81,535 shares of the medical technology company’s stock valued at $6,568,000 after buying an additional 269 shares during the last quarter. Finally, Wayne Hummer Investments L.L.C. increased its stake in Medtronic PLC by 31.5% in the first quarter. Wayne Hummer Investments L.L.C. now owns 4,214 shares of the medical technology company’s stock valued at $339,000 after buying an additional 1,010 shares during the last quarter. 83.17% of the stock is owned by institutional investors and hedge funds.
Shares of Medtronic PLC (MDT) opened at 84.68 on Friday. The company has a 50 day moving average price of $87.51 and a 200-day moving average price of $82.22. Medtronic PLC has a 12-month low of $69.35 and a 12-month high of $89.72. The firm has a market cap of $115.08 billion, a PE ratio of 29.30 and a beta of 1.04.
Medtronic PLC (NYSE:MDT) last posted its quarterly earnings data on Thursday, May 25th. The medical technology company reported $1.33 EPS for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.02. Medtronic PLC had a net margin of 13.56% and a return on equity of 12.72%. The business had revenue of $7.92 billion for the quarter, compared to analyst estimates of $7.86 billion. During the same quarter last year, the business earned $1.27 earnings per share. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. Analysts expect that Medtronic PLC will post $4.95 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Friday, July 7th were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date was Wednesday, July 5th. This is a positive change from Medtronic PLC’s previous quarterly dividend of $0.43. Medtronic PLC’s dividend payout ratio (DPR) is currently 63.67%.
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Several analysts have recently weighed in on the company. BidaskClub downgraded Medtronic PLC from a “strong-buy” rating to a “buy” rating in a report on Monday. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Medtronic PLC in a report on Tuesday, July 18th. Wells Fargo & Company reissued an “outperform” rating on shares of Medtronic PLC in a report on Wednesday, July 12th. William Blair reissued an “outperform” rating on shares of Medtronic PLC in a report on Thursday, July 6th. Finally, BMO Capital Markets boosted their target price on Medtronic PLC from $87.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday, May 30th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $89.16.
In related news, EVP Bryan C. Hanson sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $88.57, for a total transaction of $1,062,840.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Richard H. Anderson acquired 5,600 shares of the stock in a transaction that occurred on Wednesday, June 21st. The shares were bought at an average price of $88.90 per share, for a total transaction of $497,840.00. Following the purchase, the director now directly owns 71,910 shares of the company’s stock, valued at $6,392,799. The disclosure for this purchase can be found here. 0.25% of the stock is owned by company insiders.
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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