Captrust Financial Advisors Acquires 927 Shares of Medtronic PLC (MDT)

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Captrust Financial Advisors grew its holdings in Medtronic PLC (NYSE:MDT) by 12.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,445 shares of the medical technology company’s stock after buying an additional 927 shares during the quarter. Captrust Financial Advisors’ holdings in Medtronic were worth $723,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Medtronic by 2.1% in the 2nd quarter. BlackRock Inc. now owns 97,867,667 shares of the medical technology company’s stock valued at $8,378,448,000 after buying an additional 1,966,789 shares in the last quarter. Artisan Partners Limited Partnership raised its stake in shares of Medtronic by 4.2% in the 2nd quarter. Artisan Partners Limited Partnership now owns 23,443,933 shares of the medical technology company’s stock valued at $2,007,035,000 after buying an additional 939,892 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Medtronic by 11.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 15,717,199 shares of the medical technology company’s stock valued at $1,345,549,000 after buying an additional 1,589,932 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Medtronic by 5.9% in the 1st quarter. Wells Fargo & Company MN now owns 13,941,900 shares of the medical technology company’s stock valued at $1,118,419,000 after buying an additional 782,123 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Medtronic by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,884,401 shares of the medical technology company’s stock valued at $760,649,000 after buying an additional 394,973 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

MDT opened at $96.04 on Thursday. The company has a quick ratio of 2.06, a current ratio of 2.46 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $130.32 billion, a price-to-earnings ratio of 20.13, a P/E/G ratio of 2.55 and a beta of 0.92. Medtronic PLC has a 1-year low of $76.41 and a 1-year high of $97.38.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 21st. The medical technology company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.06. The firm had revenue of $7.38 billion during the quarter, compared to analysts’ expectations of $7.24 billion. Medtronic had a net margin of 10.56% and a return on equity of 12.98%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the company posted $1.12 EPS. equities research analysts forecast that Medtronic PLC will post 5.12 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 19th. Shareholders of record on Friday, September 28th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Thursday, September 27th. Medtronic’s payout ratio is presently 41.93%.

A number of equities analysts have recently issued reports on MDT shares. SunTrust Banks increased their price objective on shares of Medtronic to $96.00 and gave the company a “buy” rating in a research note on Monday, May 21st. TheStreet upgraded shares of Medtronic from a “c+” rating to a “b-” rating in a research report on Monday, May 21st. Oppenheimer reiterated a “buy” rating and set a $96.00 target price on shares of Medtronic in a research report on Thursday, May 24th. Morgan Stanley increased their target price 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 target price on shares of Medtronic to $96.00 and gave the stock an “overweight” rating in a research report on Friday, May 25th. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Medtronic currently has a consensus rating of “Buy” and an average target price of $100.61.

In related news, Director Richard H. Anderson acquired 2,600 shares of the stock in a transaction on Thursday, August 23rd. The stock was purchased at an average price of $95.88 per share, for a total transaction of $249,288.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Michael J. Coyle sold 145,544 shares of the firm’s stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $95.50, for a total transaction of $13,899,452.00. Following the completion of the sale, the executive vice president now owns 190,680 shares of the company’s stock, valued at approximately $18,209,940. The disclosure for this sale can be found here. Insiders sold a total of 239,289 shares of company stock valued at $22,717,098 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.

About Medtronic

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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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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