Community Trust & Investment Co. Increases Stake in Medtronic PLC (MDT)
Community Trust & Investment Co. boosted its stake in Medtronic PLC (NYSE:MDT) by 2.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 239,387 shares of the medical technology company’s stock after buying an additional 6,042 shares during the period. Medtronic PLC makes up about 2.2% of Community Trust & Investment Co.’s holdings, making the stock its 14th largest position. Community Trust & Investment Co.’s holdings in Medtronic PLC were worth $19,285,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Doyle Wealth Management bought a new stake in shares of Medtronic PLC during the first quarter valued at $1,230,000. Tompkins Financial Corp increased its stake in shares of Medtronic PLC by 29.5% in the first quarter. Tompkins Financial Corp now owns 6,693 shares of the medical technology company’s stock valued at $502,000 after buying an additional 1,525 shares during the period. Eastern Bank increased its stake in shares of Medtronic PLC by 316.2% in the first quarter. Eastern Bank now owns 14,666 shares of the medical technology company’s stock valued at $1,181,000 after buying an additional 11,142 shares during the period. First National Bank & Trust Co. of Newtown increased its stake in shares of Medtronic PLC by 0.3% in the first quarter. First National Bank & Trust Co. of Newtown now owns 15,107 shares of the medical technology company’s stock valued at $1,217,000 after buying an additional 43 shares during the period. Finally, Integrated Wealth Management bought a new stake in shares of Medtronic PLC during the first quarter valued at $279,000. 83.54% of the stock is currently owned by hedge funds and other institutional investors.
Medtronic PLC (NYSE:MDT) traded up 0.36% during trading on Tuesday, reaching $84.77. The company’s stock had a trading volume of 509,103 shares. Medtronic PLC has a 52 week low of $69.35 and a 52 week high of $89.72. The firm has a market capitalization of $115.20 billion, a P/E ratio of 29.33 and a beta of 1.02. The firm has a 50-day moving average price of $86.04 and a 200-day moving average price of $83.07.
Medtronic PLC (NYSE:MDT) last announced its quarterly earnings data on Thursday, May 25th. The medical technology company reported $1.33 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $7.86 billion. During the same quarter in the prior year, the firm earned $1.27 EPS. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, equities analysts anticipate that Medtronic PLC will post $4.81 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend was Wednesday, July 5th. This is an increase from Medtronic PLC’s previous quarterly dividend of $0.43. Medtronic PLC’s dividend payout ratio is 63.67%.
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MDT has been the topic of several recent research reports. Evercore ISI upped their price target on Medtronic PLC from $88.00 to $88.50 and gave the stock an “outperform” rating in a report on Wednesday, April 19th. Royal Bank Of Canada restated a “buy” rating and set a $85.00 price target on shares of Medtronic PLC in a report on Tuesday, April 18th. Goldman Sachs Group, Inc. (The) initiated coverage on Medtronic PLC in a report on Tuesday, May 16th. They set a “neutral” rating and a $87.00 price target on the stock. Zacks Investment Research downgraded Medtronic PLC from a “hold” rating to a “sell” rating in a report on Tuesday, May 23rd. Finally, BMO Capital Markets upped their price target on Medtronic PLC from $87.00 to $94.00 and gave the stock an “outperform” rating in a report on Tuesday, May 30th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $89.84.
In other Medtronic PLC news, 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard H. Anderson bought 5,600 shares of the business’s stock in a transaction on Wednesday, June 21st. The shares were purchased at an average cost of $88.90 per share, for a total transaction of $497,840.00. Following the completion of 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. 0.25% of the stock is currently owned by corporate insiders.
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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