Bbva Compass Bancshares Inc. boosted its stake in Medtronic PLC (NYSE:MDT) by 15.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 93,682 shares of the medical technology company’s stock after buying an additional 12,480 shares during the quarter. Bbva Compass Bancshares Inc.’s holdings in Medtronic PLC were worth $8,315,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust increased its position in shares of Medtronic PLC by 22.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock valued at $102,000 after purchasing an additional 210 shares during the last quarter. Israel Discount Bank of New York purchased a new stake in shares of Medtronic PLC during the 1st quarter valued at $117,000. Birch Hill Investment Advisors LLC purchased a new stake in shares of Medtronic PLC during the 1st quarter valued at $120,000. Farmers National Bank purchased a new stake in shares of Medtronic PLC during the 1st quarter valued at $121,000. Finally, Norway Savings Bank increased its position in shares of Medtronic PLC by 2.7% during the 2nd quarter. Norway Savings Bank now owns 1,427 shares of the medical technology company’s stock valued at $127,000 after purchasing an additional 38 shares during the last quarter. 80.75% of the stock is owned by institutional investors and hedge funds.
In related news, Director Richard H. Anderson purchased 5,600 shares of Medtronic PLC stock in a transaction on Wednesday, June 21st. The stock was acquired at an average price of $88.90 per share, for a total transaction of $497,840.00. Following the completion of the transaction, the director now directly owns 71,910 shares in the company, valued at approximately $6,392,799. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Bryan C. Hanson sold 12,000 shares of the company’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $88.57, for a total value of $1,062,840.00. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.
Medtronic PLC (NYSE MDT) opened at 82.30 on Wednesday. The firm has a 50-day moving average price of $82.56 and a 200 day moving average price of $83.65. The company has a market cap of $112.08 billion, a P/E ratio of 27.70 and a beta of 1.03. Medtronic PLC has a 52 week low of $69.35 and a 52 week high of $89.72.
Medtronic PLC (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. The business had revenue of $7.39 billion during the quarter, compared to analysts’ expectations of $7.44 billion. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.03 earnings per share. Analysts expect that Medtronic PLC will post $4.77 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, September 29th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Thursday, September 28th. Medtronic PLC’s payout ratio is 61.95%.
Several equities research analysts have recently issued reports on the company. UBS AG reaffirmed a “buy” rating and set a $95.00 target price (up from $94.00) on shares of Medtronic PLC in a research report on Tuesday, May 30th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $92.00 target price on shares of Medtronic PLC in a research report on Tuesday, August 22nd. Zacks Investment Research lowered Medtronic PLC from a “hold” rating to a “sell” rating in a research report on Tuesday. Jefferies Group LLC reaffirmed a “buy” rating and set a $103.00 target price on shares of Medtronic PLC in a research report on Thursday, August 3rd. Finally, BMO Capital Markets raised their target price on Medtronic PLC from $87.00 to $94.00 and gave the company an “outperform” rating in a research report on Tuesday, May 30th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $88.78.
Medtronic PLC 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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