Gateway Advisory LLC purchased a new position in shares of Medtronic PLC (NYSE:MDT) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 2,918 shares of the medical technology company’s stock, valued at approximately $234,000.
Other institutional investors also recently bought and sold shares of the company. Guggenheim Capital LLC increased its stake in shares of Medtronic PLC by 27.6% in the fourth quarter. Guggenheim Capital LLC now owns 848,660 shares of the medical technology company’s stock worth $60,450,000 after buying an additional 183,586 shares during the last quarter. AQR Capital Management LLC increased its stake in Medtronic PLC by 30.1% in the fourth quarter. AQR Capital Management LLC now owns 838,340 shares of the medical technology company’s stock valued at $59,715,000 after buying an additional 194,096 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in Medtronic PLC by 8.2% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 66,310 shares of the medical technology company’s stock valued at $4,816,000 after buying an additional 5,026 shares in the last quarter. Congress Asset Management Co. MA bought a new stake in shares of Medtronic PLC during the fourth quarter valued at about $374,000. Finally, Capital International Inc. CA increased its stake in shares of Medtronic PLC by 111.1% in the fourth quarter. Capital International Inc. CA now owns 55,300 shares of the medical technology company’s stock valued at $3,939,000 after buying an additional 29,100 shares during the period. 83.54% of the stock is currently owned by institutional investors.
Medtronic PLC (NYSE:MDT) traded up 0.01% on Wednesday, reaching $84.60. The company had a trading volume of 4,376,035 shares. The company has a market capitalization of $114.97 billion, a P/E ratio of 29.27 and a beta of 1.02. The stock’s 50-day moving average is $85.91 and its 200-day moving average is $83.14. Medtronic PLC has a 52 week low of $69.35 and a 52 week high of $89.72.
Medtronic PLC (NYSE:MDT) last posted its earnings results 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 return on equity of 12.72% and a net margin of 13.56%. The firm had revenue of $7.92 billion for the quarter, compared to analysts’ expectations of $7.86 billion. During the same period last year, the firm earned $1.27 EPS. The company’s quarterly revenue was up 4.6% on a year-over-year basis. Equities research analysts forecast that Medtronic PLC will post $4.81 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Wednesday, July 5th. This is a boost from Medtronic PLC’s previous quarterly dividend of $0.43. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.17%. Medtronic PLC’s dividend payout ratio (DPR) is 63.67%.
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MDT has been the topic of several research analyst reports. UBS AG reissued a “buy” rating and issued a $95.00 price objective (up previously from $94.00) on shares of Medtronic PLC in a research report on Tuesday, May 30th. Jefferies Group LLC reaffirmed a “buy” rating and set a $103.00 price target on shares of Medtronic PLC in a research report on Thursday, August 3rd. CIBC reaffirmed a “buy” rating on shares of Medtronic PLC in a research report on Friday, May 26th. Barclays PLC reissued an “overweight” rating and set a $94.00 price objective (up previously from $92.00) on shares of Medtronic PLC in a report on Sunday, May 28th. Finally, Cowen and Company reissued an “outperform” rating and set a $95.00 price objective (up previously from $86.00) on shares of Medtronic PLC in a report on Sunday, May 28th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the company’s stock. Medtronic PLC currently has an average rating of “Hold” and a consensus target price of $89.84.
In related news, Director Richard H. Anderson purchased 5,600 shares of the firm’s stock in a transaction that occurred on Wednesday, June 21st. The shares were purchased at an average cost of $88.90 per share, with a total value of $497,840.00. Following the purchase, the director now owns 71,910 shares of the company’s stock, valued at approximately $6,392,799. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Bryan C. Hanson sold 12,000 shares of the firm’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $88.57, for a total transaction of $1,062,840.00. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.
Medtronic PLC Company 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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