Brandywine Global Investment Management LLC increased its stake in shares of Medtronic PLC (NYSE:MDT) by 4.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 656,911 shares of the medical technology company’s stock after acquiring an additional 28,636 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Medtronic PLC were worth $58,301,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. Parkside Financial Bank & Trust grew its position in 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 worth $102,000 after purchasing an additional 210 shares during the last quarter. BDO Wealth Advisors LLC purchased a new position in Medtronic PLC during the 2nd quarter worth $103,000. Motco grew its position in Medtronic PLC by 8.7% during the 2nd quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after purchasing an additional 99 shares during the last quarter. Farmers National Bank purchased a new position in Medtronic PLC during the 1st quarter worth $121,000. Finally, Norway Savings Bank grew its position in Medtronic PLC by 2.7% during the 2nd quarter. Norway Savings Bank now owns 1,427 shares of the medical technology company’s stock worth $127,000 after purchasing an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 81.37% of the company’s stock.
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Shares of Medtronic PLC (NYSE MDT) opened at $79.16 on Wednesday. Medtronic PLC has a twelve month low of $69.35 and a twelve month high of $89.72. The stock has a market cap of $107,283.60, a P/E ratio of 16.89, a P/E/G ratio of 2.15 and a beta of 1.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.64 and a quick ratio of 1.40.
Medtronic PLC (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.04. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. The company had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.44 billion. During the same period in the previous year, the firm earned $1.03 earnings per share. Medtronic PLC’s revenue for the quarter was up 3.1% on a year-over-year basis. equities analysts anticipate that Medtronic PLC will post 4.7 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 20th. Shareholders of record on Friday, September 29th were paid a dividend of $0.46 per share. The ex-dividend date was Thursday, September 28th. This represents a $1.84 annualized dividend and a yield of 2.32%. Medtronic PLC’s dividend payout ratio is currently 61.95%.
In other news, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $78.03, for a total value of $1,248,480.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Omar Ishrak sold 140,407 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the completion of the transaction, the chief executive officer now owns 668,503 shares of the company’s stock, valued at $54,569,899.89. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.
Several analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $94.00 target price on shares of Medtronic PLC in a report on Thursday, November 9th. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $96.00 target price on shares of Medtronic PLC in a report on Friday, November 3rd. Cowen and Company reaffirmed a “buy” rating and issued a $95.00 target price on shares of Medtronic PLC in a report on Friday, November 3rd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $89.00 target price (down previously from $92.00) on shares of Medtronic PLC in a report on Tuesday, October 10th. Finally, Leerink Swann reaffirmed a “market perform” rating and issued a $85.00 target price (down previously from $88.00) on shares of Medtronic PLC in a report on Monday, October 9th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Medtronic PLC has a consensus rating of “Hold” and an average target price of $87.88.
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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