Swiss National Bank grew its position in Medtronic PLC (NYSE:MDT) by 2.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,108,863 shares of the medical technology company’s stock after buying an additional 142,000 shares during the period. Swiss National Bank owned 0.38% of Medtronic worth $437,370,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. Affiance Financial LLC boosted its position in shares of Medtronic by 18.6% during the 2nd quarter. Affiance Financial LLC now owns 8,080 shares of the medical technology company’s stock worth $692,000 after purchasing an additional 1,268 shares during the period. AdvisorNet Financial Inc boosted its position in shares of Medtronic by 11.2% during the 2nd quarter. AdvisorNet Financial Inc now owns 39,991 shares of the medical technology company’s stock worth $3,424,000 after purchasing an additional 4,038 shares during the period. Steward Partners Investment Advisory LLC boosted its position in shares of Medtronic by 85.1% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 35,946 shares of the medical technology company’s stock worth $3,077,000 after purchasing an additional 16,530 shares during the period. Pure Financial Advisors Inc. purchased a new position in shares of Medtronic during the 2nd quarter worth approximately $308,000. Finally, Hengehold Capital Management LLC purchased a new position in shares of Medtronic during the 2nd quarter worth approximately $2,149,000. 80.05% of the stock is owned by institutional investors and hedge funds.
In other news, SVP Richard Kuntz sold 11,500 shares of the firm’s stock in a transaction on Friday, June 8th. The shares were sold at an average price of $87.13, for a total value of $1,001,995.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Bradley E. Lerman sold 8,910 shares of the firm’s stock in a transaction on Monday, June 11th. The shares were sold at an average price of $86.82, for a total transaction of $773,566.20. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.
MDT has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of Medtronic from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Needham & Company LLC raised shares of Medtronic from a “buy” rating to a “strong-buy” rating and increased their price objective for the stock from $103.00 to $119.00 in a research report on Monday, August 13th. Oppenheimer reaffirmed a “buy” rating on shares of Medtronic in a research report on Tuesday. Morgan Stanley increased their price objective on shares of Medtronic from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday, May 25th. Finally, Piper Jaffray Companies increased their price objective on shares of Medtronic to $96.00 and gave the stock an “overweight” rating in a research report on Friday, May 25th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $93.24.
Medtronic stock traded up $3.74 during mid-day trading on Tuesday, reaching $93.77. 229,144 shares of the company’s stock were exchanged, compared to its average volume of 4,190,196. The firm has a market cap of $122.46 billion, a PE ratio of 19.55, a price-to-earnings-growth ratio of 2.46 and a beta of 0.94. Medtronic PLC has a twelve month low of $76.41 and a twelve month high of $91.50. The company has a quick ratio of 1.92, a current ratio of 2.28 and a debt-to-equity ratio of 0.47.
Medtronic (NYSE:MDT) last released its earnings results on Thursday, May 24th. The medical technology company reported $1.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.03. Medtronic had a net margin of 10.36% and a return on equity of 12.84%. The company had revenue of $8.14 billion for the quarter, compared to analyst estimates of $8 billion. During the same period in the prior year, the business earned $1.33 EPS. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. equities research analysts anticipate that Medtronic PLC will post 5.11 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 25th. Stockholders of record on Friday, July 6th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.13%. This is a positive change from Medtronic’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Thursday, July 5th. Medtronic’s dividend payout ratio (DPR) is presently 41.93%.
Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.
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