Mark Sheptoff Financial Planning LLC boosted its stake in Medtronic PLC (NYSE:MDT) by 0.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,890 shares of the medical technology company’s stock after buying an additional 1 shares during the period. Mark Sheptoff Financial Planning LLC’s holdings in Medtronic PLC were worth $636,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dodge & Cox acquired a new stake in Medtronic PLC during the fourth quarter worth about $761,351,000. Norges Bank acquired a new stake in Medtronic PLC during the fourth quarter worth about $757,324,000. Franklin Resources Inc. increased its stake in Medtronic PLC by 11.0% in the fourth quarter. Franklin Resources Inc. now owns 37,236,096 shares of the medical technology company’s stock worth $2,652,348,000 after buying an additional 3,694,537 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Medtronic PLC during the fourth quarter worth about $202,568,000. Finally, Wells Fargo & Company MN increased its stake in Medtronic PLC by 18.9% in the first quarter. Wells Fargo & Company MN now owns 11,932,572 shares of the medical technology company’s stock worth $961,288,000 after buying an additional 1,895,386 shares during the period. 83.11% of the stock is currently owned by institutional investors and hedge funds.
Shares of Medtronic PLC (MDT) opened at 86.06 on Tuesday. The stock has a market capitalization of $116.96 billion, a price-to-earnings ratio of 29.78 and a beta of 1.03. The company has a 50-day moving average price of $86.21 and a 200-day moving average price of $80.30. Medtronic PLC has a 52-week low of $69.35 and a 52-week high of $89.72.
Medtronic PLC (NYSE:MDT) last announced its quarterly earnings results on Thursday, May 25th. The medical technology company reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $7.86 billion. During the same quarter in the previous year, the business earned $1.27 EPS. Medtronic PLC’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, equities analysts anticipate that Medtronic PLC will post $4.95 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Friday, July 7th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Wednesday, July 5th. This is a positive change from Medtronic PLC’s previous quarterly dividend of $0.43. Medtronic PLC’s payout ratio is currently 63.67%.
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A number of equities analysts recently weighed in on the stock. BTIG Research restated a “neutral” rating on shares of Medtronic PLC in a report on Monday, March 20th. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Medtronic PLC in a report on Wednesday, March 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $91.00 price objective on shares of Medtronic PLC in a research report on Monday, March 27th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $85.00 price objective on shares of Medtronic PLC in a research report on Tuesday, April 18th. Finally, Evercore ISI lifted their price objective on shares of Medtronic PLC from $88.00 to $88.50 and gave the stock an “outperform” rating in a research report on Wednesday, April 19th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $89.16.
In other Medtronic PLC news, Director Richard H. Anderson purchased 5,600 shares of the business’s stock in a transaction that occurred on Wednesday, June 21st. The stock was purchased 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 in the company, valued at $6,392,799. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is owned by 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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