First Commonwealth Financial Corp PA Purchases Shares of 2,952 Medtronic plc. (MDT)
First Commonwealth Financial Corp PA purchased a new position in shares of Medtronic plc. (NYSE:MDT) in the fourth quarter, Holdings Channel reports. The fund purchased 2,952 shares of the medical technology company’s stock, valued at approximately $238,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Moors & Cabot Inc. raised its stake in shares of Medtronic by 0.4% during the second quarter. Moors & Cabot Inc. now owns 43,227 shares of the medical technology company’s stock worth $3,842,000 after buying an additional 178 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of Medtronic by 1.6% during the third quarter. Prudential Financial Inc. now owns 3,308,500 shares of the medical technology company’s stock worth $257,302,000 after buying an additional 53,474 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of Medtronic by 10.7% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 475,699 shares of the medical technology company’s stock worth $36,995,000 after buying an additional 45,826 shares during the last quarter. Koch Industries Inc. raised its stake in shares of Medtronic by 27,564.6% during the second quarter. Koch Industries Inc. now owns 1,403,151 shares of the medical technology company’s stock worth $1,388,000 after buying an additional 1,398,079 shares during the last quarter. Finally, Boston Research & Management Inc. raised its stake in shares of Medtronic by 4.5% during the third quarter. Boston Research & Management Inc. now owns 39,061 shares of the medical technology company’s stock worth $3,037,000 after buying an additional 1,676 shares during the last quarter. 81.19% of the stock is owned by institutional investors and hedge funds.
In related news, Director James T. Lenehan sold 1,306 shares of the stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $83.56, for a total transaction of $109,129.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Carol A. Surface sold 24,479 shares of the stock in a transaction on Monday, March 5th. The stock was sold at an average price of $78.18, for a total transaction of $1,913,768.22. The disclosure for this sale can be found here. Insiders sold 130,469 shares of company stock valued at $11,016,054 in the last quarter. Corporate insiders own 0.31% of the company’s stock.
Medtronic stock opened at $80.04 on Thursday. The firm has a market cap of $108,294.30, a P/E ratio of 17.04, a PEG ratio of 2.27 and a beta of 0.97. Medtronic plc. has a 1-year low of $76.51 and a 1-year high of $89.72. The company has a quick ratio of 2.09, a current ratio of 2.43 and a debt-to-equity ratio of 0.51.
Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.01. The company had revenue of $7.37 billion during the quarter, compared to analysts’ expectations of $7.20 billion. Medtronic had a net margin of 9.44% and a return on equity of 12.65%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.12 earnings per share. sell-side analysts expect that Medtronic plc. will post 4.75 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Friday, March 23rd will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Thursday, March 22nd. Medtronic’s dividend payout ratio (DPR) is presently 90.64%.
COPYRIGHT VIOLATION NOTICE: “First Commonwealth Financial Corp PA Purchases Shares of 2,952 Medtronic plc. (MDT)” was first reported by Watch List News and is owned by of Watch List News. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The legal version of this story can be read at https://www.watchlistnews.com/first-commonwealth-financial-corp-pa-purchases-shares-of-2952-medtronic-plc-mdt/1955956.html.
Medtronic 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.
Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic plc. (NYSE:MDT).
Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.