Banco Santander S.A. Has $3.65 Million Stake in Medtronic PLC (MDT)
Banco Santander S.A. cut its stake in Medtronic PLC (NYSE:MDT) by 2.9% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 45,188 shares of the medical technology company’s stock after selling 1,341 shares during the period. Banco Santander S.A.’s holdings in Medtronic PLC were worth $3,652,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Smith Salley & Associates boosted its position 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 valued at $472,000 after buying an additional 141 shares during the last quarter. Intrust Bank NA boosted its position in shares of Medtronic PLC by 2.6% in the first quarter. Intrust Bank NA now owns 10,688 shares of the medical technology company’s stock valued at $861,000 after buying an additional 272 shares during the last quarter. High Pointe Capital Management LLC purchased a new position in shares of Medtronic PLC during the first quarter valued at approximately $854,000. Shine Investment Advisory Services Inc. purchased a new position in shares of Medtronic PLC during the first quarter valued at approximately $244,000. Finally, Signature Financial Management Inc. purchased a new position in shares of Medtronic PLC during the first quarter valued at approximately $229,000. Institutional investors and hedge funds own 80.49% of the company’s stock.
Medtronic PLC (NYSE MDT) traded down 0.16% during midday trading on Tuesday, hitting $79.46. 1,156,772 shares of the stock were exchanged. The company’s 50 day moving average is $84.48 and its 200-day moving average is $83.39. Medtronic PLC has a 1-year low of $69.35 and a 1-year high of $89.72. The stock has a market cap of $108.22 billion, a PE ratio of 26.75 and a beta of 1.02.
Medtronic PLC (NYSE:MDT) last released its earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The business had revenue of $7.39 billion for the quarter, compared to analyst estimates of $7.44 billion. During the same quarter last year, the firm posted $1.03 earnings per share. The business’s revenue was up 3.1% compared to the same quarter last year. On average, analysts expect that Medtronic PLC will post $4.76 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, September 29th will be paid a $0.46 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.84 dividend on an annualized basis and a yield of 2.31%. Medtronic PLC’s payout ratio is 61.95%.
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MDT has been the subject of several analyst reports. CIBC restated a “buy” rating on shares of Medtronic PLC in a research report on Friday, May 26th. Needham & Company LLC restated 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. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $93.00 target price (up from $87.00) on shares of Medtronic PLC in a research report on Thursday, May 25th. UBS AG restated a “buy” rating and issued a $95.00 target price (up from $94.00) on shares of Medtronic PLC in a research report on Tuesday, May 30th. Finally, BidaskClub cut shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company. Medtronic PLC has a consensus rating of “Hold” and an average target price of $88.78.
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 value of $1,062,840.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard H. Anderson bought 5,600 shares of Medtronic PLC stock in a transaction on Wednesday, June 21st. The stock was acquired at an average price of $88.90 per share, for a total transaction of $497,840.00. Following the purchase, the director now owns 71,910 shares of the company’s stock, valued at $6,392,799. The disclosure for this purchase can be found here. Company insiders own 0.25% of the company’s stock.
About Medtronic PLC
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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