Ameriprise Financial Inc. boosted its position in shares of Medtronic PLC (NYSE:MDT) by 5.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,433,903 shares of the medical technology company’s stock after buying an additional 452,291 shares during the period. Ameriprise Financial Inc. owned 0.69% of Medtronic PLC worth $837,244,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Chemical Bank increased its stake in Medtronic PLC by 0.4% during the 2nd quarter. Chemical Bank now owns 11,623 shares of the medical technology company’s stock worth $1,031,000 after buying an additional 46 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in Medtronic PLC by 9.1% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 5,037,638 shares of the medical technology company’s stock worth $447,090,000 after buying an additional 418,230 shares in the last quarter. Citizens Financial Group Inc RI increased its stake in Medtronic PLC by 10.1% during the 2nd quarter. Citizens Financial Group Inc RI now owns 4,886 shares of the medical technology company’s stock worth $434,000 after buying an additional 448 shares in the last quarter. South State Corp increased its stake in Medtronic PLC by 2.7% during the 2nd quarter. South State Corp now owns 13,433 shares of the medical technology company’s stock worth $1,193,000 after buying an additional 350 shares in the last quarter. Finally, SVA Plumb Wealth Management LLC increased its stake in Medtronic PLC by 1.8% during the 2nd quarter. SVA Plumb Wealth Management LLC now owns 49,430 shares of the medical technology company’s stock worth $4,387,000 after buying an additional 892 shares in the last quarter. Institutional investors own 80.81% of the company’s stock.

Several research analysts have recently weighed in on MDT shares. Jefferies Group LLC restated a “buy” rating and set a $103.00 target price on shares of Medtronic PLC in a report on Thursday, August 3rd. Deutsche Bank AG set a $96.00 target price on Medtronic PLC and gave the stock a “buy” rating in a report on Monday, July 31st. BidaskClub cut Medtronic PLC from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Medtronic PLC in a report on Tuesday, July 18th. Finally, Cowen and Company set a $95.00 price objective on Medtronic PLC and gave the company a “buy” rating in a report on Tuesday, August 22nd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $87.88.

In related news, EVP Bryan C. Hanson sold 16,000 shares of the firm’s stock in a transaction dated 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 accessible through this hyperlink. Also, CEO Omar Ishrak sold 140,407 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 668,503 shares of the company’s stock, valued at approximately $54,569,899.89. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

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Shares of Medtronic PLC (NYSE MDT) opened at $78.43 on Friday. The company has a market capitalization of $105.48 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 2.16 and a beta of 1.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.40 and a current ratio of 1.64.

Medtronic PLC (NYSE:MDT) last announced its earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share 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 business had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.44 billion. During the same quarter in the prior year, the firm earned $1.03 earnings per share. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. research analysts expect that Medtronic PLC will post 4.64 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 20th. Investors of record on Friday, September 29th were given a $0.46 dividend. The ex-dividend date was Thursday, September 28th. This represents a $1.84 dividend on an annualized basis and a yield of 2.35%. Medtronic PLC’s payout ratio is currently 61.95%.

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.

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

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