Ipswich Investment Management Co. Inc. acquired a new position in Medtronic PLC (NYSE:MDT) during the second quarter, Holdings Channel reports. The fund acquired 3,272 shares of the medical technology company’s stock, valued at approximately $290,000.

Other large investors also recently modified their holdings of the company. Smith Salley & Associates boosted its stake in shares of Medtronic PLC by 2.5% in the first quarter. Smith Salley & Associates now owns 5,853 shares of the medical technology company’s stock worth $472,000 after buying an additional 141 shares during the period. Atria Investments LLC boosted its stake in Medtronic PLC by 39.0% in the first quarter. Atria Investments LLC now owns 9,233 shares of the medical technology company’s stock worth $744,000 after buying an additional 2,591 shares during the period. Intrust Bank NA boosted its stake in Medtronic PLC by 2.6% in the first quarter. Intrust Bank NA now owns 10,688 shares of the medical technology company’s stock worth $861,000 after buying an additional 272 shares during the period. High Pointe Capital Management LLC acquired a new stake in Medtronic PLC during the first quarter worth approximately $854,000. Finally, Shine Investment Advisory Services Inc. acquired a new stake in Medtronic PLC during the first quarter worth approximately $244,000. Hedge funds and other institutional investors own 83.36% of the company’s stock.

Medtronic PLC (MDT) traded up 0.81% during mid-day trading on Friday, reaching $83.71. The company had a trading volume of 4,302,167 shares. The firm’s 50 day moving average price is $86.18 and its 200-day moving average price is $82.87. The company has a market capitalization of $113.76 billion, a price-to-earnings ratio of 28.97 and a beta of 1.02. Medtronic PLC has a 12 month low of $69.35 and a 12 month high of $89.72.

Medtronic PLC (NYSE:MDT) last issued its quarterly earnings results on Thursday, May 25th. The medical technology company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.02. Medtronic PLC had a return on equity of 12.72% and a net margin of 13.56%. The company had revenue of $7.92 billion for the quarter, compared to analyst estimates of $7.86 billion. During the same quarter in the prior year, the company posted $1.27 EPS. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. Equities research analysts anticipate that Medtronic PLC will post $4.81 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend was Wednesday, July 5th. This is a positive change from Medtronic PLC’s previous quarterly dividend of $0.43. Medtronic PLC’s dividend payout ratio is currently 63.67%.

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A number of equities research analysts have commented on MDT shares. CIBC reiterated a “buy” rating on shares of Medtronic PLC in a research note on Friday, May 26th. Needham & Company LLC reiterated a “buy” rating and issued a $95.00 price target (up from $91.00) on shares of Medtronic PLC in a research note on Thursday, May 25th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $93.00 price target (up from $87.00) on shares of Medtronic PLC in a research note on Thursday, May 25th. Royal Bank Of Canada reiterated a “buy” rating and issued a $85.00 price target on shares of Medtronic PLC in a research note on Tuesday, April 18th. Finally, UBS AG reiterated a “buy” rating and issued a $95.00 price target (up from $94.00) on shares of Medtronic PLC in a research note on Tuesday, May 30th. Two research 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. The stock currently has a consensus rating of “Hold” and an average target price of $89.84.

In other Medtronic PLC news, EVP Bryan C. Hanson sold 12,000 shares of the stock in a transaction 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Richard H. Anderson purchased 5,600 shares of Medtronic PLC stock in a transaction on Wednesday, June 21st. The shares were acquired at an average cost of $88.90 per share, for a total transaction of $497,840.00. Following the purchase, the director now owns 71,910 shares in the company, valued at $6,392,799. The disclosure for this purchase can be found here. Corporate insiders own 0.25% of the company’s stock.

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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Institutional Ownership by Quarter for Medtronic PLC (NYSE:MDT)

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