Redmond Asset Management LLC decreased its holdings in shares of Medtronic PLC (NYSE:MDT) by 3.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,796 shares of the medical technology company’s stock after selling 613 shares during the quarter. Redmond Asset Management LLC’s holdings in Medtronic were worth $1,928,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of the stock. BlackRock Inc. lifted its holdings in Medtronic by 7.9% in the 1st quarter. BlackRock Inc. now owns 106,778,084 shares of the medical technology company’s stock worth $9,725,349,000 after buying an additional 7,856,946 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Medtronic by 2.2% in the 1st quarter. Wells Fargo & Company MN now owns 13,714,625 shares of the medical technology company’s stock worth $1,249,129,000 after purchasing an additional 291,291 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Medtronic by 35.4% in the 1st quarter. Nordea Investment Management AB now owns 8,622,525 shares of the medical technology company’s stock worth $785,336,000 after purchasing an additional 2,255,412 shares during the last quarter. Boston Partners increased its position in shares of Medtronic by 13.9% in the 1st quarter. Boston Partners now owns 8,405,239 shares of the medical technology company’s stock worth $765,549,000 after purchasing an additional 1,028,238 shares during the last quarter. Finally, Sanders Capital LLC increased its position in shares of Medtronic by 3.3% in the 2nd quarter. Sanders Capital LLC now owns 6,134,485 shares of the medical technology company’s stock worth $672,922,000 after purchasing an additional 196,300 shares during the last quarter. Institutional investors and hedge funds own 80.65% of the company’s stock.
In other Medtronic news, SVP Bradley E. Lerman sold 6,599 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $102.02, for a total value of $673,229.98. Following the completion of the transaction, the senior vice president now owns 105,960 shares in the company, valued at approximately $10,810,039.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Hoedt Rob Ten sold 9,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $91.88, for a total transaction of $826,920.00. Following the completion of the transaction, the executive vice president now owns 58,785 shares of the company’s stock, valued at approximately $5,401,165.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 95,701 shares of company stock valued at $9,318,744. 0.28% of the stock is owned by insiders.
Shares of NYSE:MDT traded up $0.91 during trading on Thursday, reaching $101.84. 125,724 shares of the company’s stock traded hands, compared to its average volume of 4,206,267. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.59 and a quick ratio of 2.15. Medtronic PLC has a 12 month low of $81.66 and a 12 month high of $103.95. The company’s 50 day moving average is $100.37. The stock has a market cap of $135.66 billion, a PE ratio of 19.46, a P/E/G ratio of 2.59 and a beta of 0.67.
Medtronic (NYSE:MDT) last announced its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.07. Medtronic had a net margin of 15.15% and a return on equity of 14.16%. The business had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.12 billion. During the same quarter in the prior year, the firm earned $1.42 EPS. The company’s revenue for the quarter was up .0% compared to the same quarter last year. On average, research analysts anticipate that Medtronic PLC will post 5.48 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 8th were given a $0.54 dividend. This is a boost from Medtronic’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, July 5th. This represents a $2.16 annualized dividend and a yield of 2.12%. Medtronic’s dividend payout ratio is 41.38%.
Several equities research analysts have recently weighed in on MDT shares. Morgan Stanley boosted their target price on shares of Medtronic from $100.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Barclays boosted their target price on shares of Medtronic from $104.00 to $110.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. ValuEngine downgraded shares of Medtronic from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Cowen reissued an “outperform” rating and issued a $111.00 target price (up previously from $99.00) on shares of Medtronic in a research report on Wednesday. Finally, Zacks Investment Research raised shares of Medtronic from a “sell” rating to a “hold” rating in a research report on Monday, May 20th. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Medtronic currently has a consensus rating of “Buy” and a consensus price target of $106.41.
Medtronic Company Profile
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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