Cibc World Markets Corp Increases Stake in Medtronic PLC (MDT)
Cibc World Markets Corp lifted its holdings in shares of Medtronic PLC (NYSE:MDT) by 35.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 193,428 shares of the medical technology company’s stock after acquiring an additional 50,467 shares during the period. Cibc World Markets Corp’s holdings in Medtronic PLC were worth $17,167,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Harfst & Associates Inc. grew its position in shares of Medtronic PLC by 33.1% during the second quarter. Harfst & Associates Inc. now owns 4,675 shares of the medical technology company’s stock worth $414,000 after acquiring an additional 1,162 shares during the last quarter. South Street Advisors LLC grew its position in shares of Medtronic PLC by 768.2% during the second quarter. South Street Advisors LLC now owns 112,509 shares of the medical technology company’s stock worth $9,985,000 after acquiring an additional 99,550 shares during the last quarter. Bluestein R H & Co. grew its position in shares of Medtronic PLC by 6.3% during the second quarter. Bluestein R H & Co. now owns 318,231 shares of the medical technology company’s stock worth $28,243,000 after acquiring an additional 18,764 shares during the last quarter. GQG Partners LLC purchased a new position in shares of Medtronic PLC during the second quarter worth approximately $4,392,000. Finally, Mariner Wealth Advisors LLC grew its position in shares of Medtronic PLC by 9.3% during the second quarter. Mariner Wealth Advisors LLC now owns 17,239 shares of the medical technology company’s stock worth $1,530,000 after acquiring an additional 1,463 shares during the last quarter. Institutional investors and hedge funds own 81.37% of the company’s stock.
Medtronic PLC (NYSE:MDT) opened at $79.33 on Monday. The stock has a market capitalization of $107,459.70, a price-to-earnings ratio of 16.92, a PEG ratio of 2.19 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 has a one year low of $69.35 and a one year high of $89.72.
Medtronic PLC (NYSE:MDT) last released its quarterly earnings results 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. The business had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.44 billion. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The business’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.03 EPS. research analysts forecast that Medtronic PLC will post 4.66 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 20th. Stockholders of record on Friday, September 29th were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.32%. The ex-dividend date was Thursday, September 28th. Medtronic PLC’s dividend payout ratio (DPR) is presently 61.95%.
A number of brokerages have recently issued reports on MDT. SunTrust Banks, Inc. restated a “buy” rating and set a $96.00 target price on shares of Medtronic PLC in a research report on Monday, October 2nd. BidaskClub upgraded shares of Medtronic PLC from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Jefferies Group LLC reiterated a “buy” rating and issued a $96.00 price objective on shares of Medtronic PLC in a research report on Thursday, September 28th. Needham & Company LLC reiterated a “buy” rating and issued a $94.00 price objective on shares of Medtronic PLC in a research report on Thursday. Finally, Zacks Investment Research lowered shares of Medtronic PLC from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $87.88.
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In other news, EVP Bryan C. Hanson sold 16,000 shares of Medtronic PLC stock in a transaction on Monday, October 16th. The stock was sold at an average price of $78.03, for a total transaction of $1,248,480.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Omar Ishrak sold 140,407 shares of the business’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 transaction, the chief executive officer now directly 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. Insiders own 0.31% 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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