224,898 Shares in Medtronic PLC (NYSE:MDT) Acquired by Gotham Asset Management LLC
Gotham Asset Management LLC purchased a new position in Medtronic PLC (NYSE:MDT) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 224,898 shares of the medical technology company’s stock, valued at approximately $18,118,000.
Other institutional investors also recently added to or reduced their stakes in the company. Israel Discount Bank of New York bought a new position in Medtronic PLC during the first quarter worth $117,000. Birch Hill Investment Advisors LLC bought a new position in Medtronic PLC during the first quarter worth $120,000. Baystate Wealth Management LLC boosted its position in Medtronic PLC by 40.9% in the first quarter. Baystate Wealth Management LLC now owns 1,959 shares of the medical technology company’s stock worth $157,000 after buying an additional 569 shares in the last quarter. North Star Investment Management Corp. boosted its position in Medtronic PLC by 4.4% in the first quarter. North Star Investment Management Corp. now owns 1,973 shares of the medical technology company’s stock worth $159,000 after buying an additional 83 shares in the last quarter. Finally, Hudock Capital Group LLC boosted its position in Medtronic PLC by 0.6% in the first quarter. Hudock Capital Group LLC now owns 2,184 shares of the medical technology company’s stock worth $175,000 after buying an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 83.36% of the company’s stock.
Shares of Medtronic PLC (NYSE:MDT) traded up 0.81% on Friday, reaching $83.71. The company had a trading volume of 4,302,167 shares. Medtronic PLC has a 12 month low of $69.35 and a 12 month high of $89.72. The firm has a market capitalization of $113.76 billion, a PE ratio of 28.97 and a beta of 1.02. The company’s 50-day moving average is $86.18 and its 200 day moving average is $82.87.
Medtronic PLC (NYSE:MDT) last posted its earnings results on Thursday, May 25th. The medical technology company reported $1.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.02. The business had revenue of $7.92 billion during the quarter, compared to the consensus estimate of $7.86 billion. Medtronic PLC had a return on equity of 12.72% and a net margin of 13.56%. Medtronic PLC’s revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the company earned $1.27 EPS. Equities analysts forecast that Medtronic PLC will post $4.81 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Friday, July 7th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Wednesday, July 5th. This is an increase from Medtronic PLC’s previous quarterly dividend of $0.43. Medtronic PLC’s dividend payout ratio (DPR) is 63.67%.
A number of equities analysts have weighed in on the company. Morgan Stanley upped their price target on Medtronic PLC from $84.00 to $86.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 30th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $91.00 target price (up from $84.00) on shares of Medtronic PLC in a research report on Sunday, May 28th. William Blair reaffirmed an “outperform” rating on shares of Medtronic PLC in a research report on Thursday, July 6th. Evercore ISI reaffirmed an “outperform” rating and issued a $91.00 target price (up from $88.50) on shares of Medtronic PLC in a research report on Sunday, May 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $95.00 target price (up from $91.00) on shares of Medtronic PLC in a research report on Thursday, May 25th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $89.84.
In related news, EVP Bryan C. Hanson sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $88.57, for a total transaction of $1,062,840.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard H. Anderson bought 5,600 shares of the business’s stock in a transaction that occurred on Wednesday, June 21st. The shares were bought at an average price of $88.90 per share, with a total value of $497,840.00. Following the transaction, the director now directly owns 71,910 shares in the company, valued at $6,392,799. The disclosure for this purchase can be found here. 0.25% of the stock is owned by company insiders.
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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