CHICAGO TRUST Co NA Maintains Holdings in Medtronic PLC (MDT)

CHICAGO TRUST Co NA continued to hold its position in shares of Medtronic PLC (NYSE:MDT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,554 shares of the medical technology company’s stock at the end of the second quarter. CHICAGO TRUST Co NA’s holdings in Medtronic PLC were worth $1,203,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MDT. BlackRock Inc. raised its stake in shares of Medtronic PLC by 2,513.4% during the 1st quarter. BlackRock Inc. now owns 87,035,376 shares of the medical technology company’s stock worth $7,011,571,000 after acquiring an additional 83,705,052 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of Medtronic PLC by 1,061.4% during the 1st quarter. Lazard Asset Management LLC now owns 13,678,772 shares of the medical technology company’s stock worth $1,101,960,000 after acquiring an additional 12,500,992 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Medtronic PLC by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 102,321,656 shares of the medical technology company’s stock worth $8,243,034,000 after acquiring an additional 4,412,536 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Medtronic PLC by 18.9% during the 1st quarter. Wells Fargo & Company MN now owns 11,932,572 shares of the medical technology company’s stock worth $961,288,000 after acquiring an additional 1,895,386 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Medtronic PLC by 3.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 58,646,070 shares of the medical technology company’s stock worth $4,724,526,000 after acquiring an additional 1,729,715 shares in the last quarter. Hedge funds and other institutional investors own 80.62% of the company’s stock.

In other Medtronic PLC news, CEO Omar Ishrak sold 140,407 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $81.63, for a total value of $11,461,423.41. Following the transaction, the chief executive officer now directly owns 668,503 shares of the company’s stock, valued at approximately $54,569,899.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Bryan C. Hanson sold 12,000 shares of the business’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $88.57, for a total transaction of $1,062,840.00. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

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Shares of Medtronic PLC (MDT) traded down 0.8091% during mid-day trading on Tuesday, reaching $81.7333. 2,793,151 shares of the company were exchanged. Medtronic PLC has a 12 month low of $69.35 and a 12 month high of $89.72. The stock has a 50 day moving average price of $82.12 and a 200-day moving average price of $83.68. The stock has a market capitalization of $110.72 billion, a P/E ratio of 27.5104 and a beta of 1.03.

Medtronic PLC (NYSE:MDT) last announced its earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.04. The business had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.44 billion. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. The company’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.03 EPS. 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 issued a $0.46 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.23%. Medtronic PLC’s payout ratio is 61.95%.

Several research analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of Medtronic PLC from $84.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 30th. William Blair reiterated an “outperform” rating on shares of Medtronic PLC in a research note on Thursday, July 6th. Stifel Nicolaus reiterated a “hold” rating and set a $91.00 price objective (up previously from $84.00) on shares of Medtronic PLC in a research note on Sunday, May 28th. Evercore ISI reiterated an “outperform” rating and set a $91.00 price objective (up previously from $88.50) on shares of Medtronic PLC in a research note on Sunday, May 28th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $95.00 price objective (up previously from $91.00) on shares of Medtronic PLC in a research note on Thursday, May 25th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price 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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Institutional Ownership by Quarter for Medtronic PLC (NYSE:MDT)

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