Columbia Partners L L C Investment Management Lowers Stake in Medtronic PLC (MDT)
Columbia Partners L L C Investment Management lowered its stake in Medtronic PLC (NYSE:MDT) by 5.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 75,232 shares of the medical technology company’s stock after selling 4,151 shares during the period. Medtronic PLC comprises 0.8% of Columbia Partners L L C Investment Management’s investment portfolio, making the stock its 27th largest position. Columbia Partners L L C Investment Management’s holdings in Medtronic PLC were worth $6,060,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the company. Farmers National Bank purchased a new stake in Medtronic PLC during the first quarter valued at approximately $121,000. Israel Discount Bank of New York bought a new stake in Medtronic PLC during the first quarter worth about $117,000. Birch Hill Investment Advisors LLC bought a new stake in Medtronic PLC during the first quarter worth about $120,000. Proficio Capital Partners LLC raised its stake in Medtronic PLC by 33.3% in the first quarter. Proficio Capital Partners LLC now owns 1,811 shares of the medical technology company’s stock worth $153,000 after buying an additional 452 shares during the period. Finally, Harbour Capital Advisors LLC bought a new stake in Medtronic PLC during the first quarter worth about $154,000. Institutional investors own 83.54% of the company’s stock.
Medtronic PLC (MDT) traded down 0.05% on Friday, reaching $83.63. The company’s stock had a trading volume of 1,668,755 shares. The stock has a market capitalization of $113.66 billion, a P/E ratio of 28.94 and a beta of 1.02. Medtronic PLC has a 52 week low of $69.35 and a 52 week high of $89.72. The firm has a 50 day moving average price of $85.63 and a 200 day moving average price of $83.16.
Medtronic PLC (NYSE:MDT) last announced its quarterly earnings data on Thursday, May 25th. The medical technology company reported $1.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.02. Medtronic PLC had a net margin of 13.56% and a return on equity of 12.72%. The company had revenue of $7.92 billion during the quarter, compared to analysts’ expectations of $7.86 billion. During the same period in the previous year, the company earned $1.27 EPS. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, equities analysts anticipate that Medtronic PLC will post $4.80 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were paid a dividend of $0.46 per share. The ex-dividend date was Wednesday, July 5th. This is a boost from Medtronic PLC’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a dividend yield of 2.20%. Medtronic PLC’s payout ratio is currently 63.67%.
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A number of research firms have recently issued reports on MDT. William Blair restated an “outperform” rating on shares of Medtronic PLC in a research report on Thursday, July 6th. BidaskClub upgraded Medtronic PLC from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Wells Fargo & Company restated an “outperform” rating on shares of Medtronic PLC in a research report on Wednesday, July 12th. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Medtronic PLC in a research report on Tuesday, July 18th. Finally, Needham & Company LLC restated a “buy” rating and issued a $95.00 price target (up from $91.00) on shares of Medtronic PLC in a research report on Thursday, May 25th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Medtronic PLC currently has an average rating of “Hold” and a consensus price target of $89.84.
In related news, Director Richard H. Anderson acquired 5,600 shares of the stock in a transaction dated Wednesday, June 21st. The stock was bought at an average cost of $88.90 per share, with a total value of $497,840.00. Following the purchase, the director now directly owns 71,910 shares of the company’s stock, valued at $6,392,799. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Bryan C. Hanson sold 12,000 shares of the business’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $88.57, for a total transaction of $1,062,840.00. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.
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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