Bremer Trust National Association grew its holdings in shares of Medtronic PLC (NYSE:MDT) by 9.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,490 shares of the medical technology company’s stock after buying an additional 382 shares during the quarter. Bremer Trust National Association’s holdings in Medtronic PLC were worth $398,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Farmers National Bank bought a new stake in Medtronic PLC during the 1st quarter worth about $121,000. Israel Discount Bank of New York bought a new stake in Medtronic PLC during the 1st quarter worth about $117,000. Birch Hill Investment Advisors LLC bought a new stake in Medtronic PLC during the 1st quarter worth about $120,000. Proficio Capital Partners LLC lifted its position in Medtronic PLC by 33.3% during the 1st quarter. Proficio Capital Partners LLC now owns 1,811 shares of the medical technology company’s stock worth $153,000 after buying an additional 452 shares in the last quarter. Finally, Harbour Capital Advisors LLC bought a new stake in Medtronic PLC during the 1st quarter worth about $154,000. 80.75% of the stock is currently owned by hedge funds and other institutional investors.
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In other news, EVP Bryan C. Hanson sold 12,000 shares of Medtronic PLC stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $88.57, for a total value of $1,062,840.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard H. Anderson bought 5,600 shares of Medtronic PLC stock in a transaction dated Wednesday, June 21st. The stock was acquired at an average price of $88.90 per share, with a total value of $497,840.00. Following the purchase, the director now directly owns 71,910 shares of the company’s stock, valued at $6,392,799. The disclosure for this purchase can be found here. 0.31% of the stock is owned by company insiders.
Shares of Medtronic PLC (NYSE:MDT) traded up 0.3981% on Tuesday, hitting $81.8847. 1,458,708 shares of the company’s stock were exchanged. The firm has a market cap of $111.52 billion, a P/E ratio of 27.5613 and a beta of 1.03. The stock’s 50 day moving average is $82.58 and its 200 day moving average is $83.67. Medtronic PLC has a 12 month low of $69.35 and a 12 month high of $89.72.
Medtronic PLC (NYSE:MDT) last posted its earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.04. The firm had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.44 billion. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. The company’s revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the company earned $1.03 earnings per share. On average, equities analysts predict that Medtronic PLC will post $4.77 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, September 29th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.84 annualized dividend and a dividend yield of 2.26%. Medtronic PLC’s payout ratio is 61.95%.
Several equities research analysts have commented on the stock. UBS AG reissued a “buy” rating and set a $95.00 price target (up from $94.00) on shares of Medtronic PLC in a research report on Tuesday, May 30th. Zacks Investment Research cut shares of Medtronic PLC from a “hold” rating to a “sell” rating in a report on Tuesday. BidaskClub raised shares of Medtronic PLC from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $92.00 target price on shares of Medtronic PLC in a report on Tuesday, August 22nd. Finally, CIBC reaffirmed a “buy” rating on shares of Medtronic PLC in a report on Friday, May 26th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the stock. Medtronic PLC presently has a consensus rating of “Hold” and an average price target of $88.78.
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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