First Trust Advisors LP Sells 97,530 Shares of Medtronic PLC (MDT)
First Trust Advisors LP lessened its stake in Medtronic PLC (NYSE:MDT) by 20.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 371,708 shares of the medical technology company’s stock after selling 97,530 shares during the period. First Trust Advisors LP’s holdings in Medtronic PLC were worth $32,989,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of MDT. Jackson Grant Investment Advisers Inc. increased its holdings in shares of Medtronic PLC by 0.3% during the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 2,920 shares of the medical technology company’s stock valued at $235,000 after purchasing an additional 9 shares in the last quarter. Bollard Group LLC boosted its holdings in Medtronic PLC by 0.4% during the second quarter. Bollard Group LLC now owns 3,651 shares of the medical technology company’s stock worth $324,000 after buying an additional 14 shares in the last quarter. Triangle Securities Wealth Management boosted its holdings in Medtronic PLC by 0.3% during the second quarter. Triangle Securities Wealth Management now owns 4,396 shares of the medical technology company’s stock worth $390,000 after buying an additional 15 shares in the last quarter. North Star Investment Management Corp. boosted its holdings in Medtronic PLC by 1.1% during the second quarter. North Star Investment Management Corp. now owns 1,995 shares of the medical technology company’s stock worth $177,000 after buying an additional 22 shares in the last quarter. Finally, Shufro Rose & Co. LLC boosted its holdings in Medtronic PLC by 0.3% during the first quarter. Shufro Rose & Co. LLC now owns 10,381 shares of the medical technology company’s stock worth $836,000 after buying an additional 28 shares in the last quarter. 80.63% of the stock is currently owned by institutional investors and hedge funds.
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Medtronic PLC (MDT) opened at 78.05 on Tuesday. The firm has a 50-day moving average of $80.75 and a 200 day moving average of $83.43. Medtronic PLC has a 12-month low of $69.35 and a 12-month high of $89.72. The firm has a market capitalization of $105.73 billion, a price-to-earnings ratio of 26.27 and a beta of 1.01.
Medtronic PLC (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 13.75% and a return on equity of 12.92%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.03 earnings per share. On average, equities analysts predict that Medtronic PLC will post $4.77 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, September 29th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Thursday, September 28th. Medtronic PLC’s payout ratio is 61.95%.
MDT has been the topic of several analyst reports. SunTrust Banks, Inc. restated a “buy” rating and set a $96.00 price target on shares of Medtronic PLC in a research report on Monday. 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. Zacks Investment Research lowered shares of Medtronic PLC from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Finally, UBS AG reissued an “overweight” rating on shares of Medtronic PLC in a research note on Thursday, August 24th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $89.12.
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 transaction of $1,062,840.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Omar Ishrak sold 140,407 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $81.63, for a total value of $11,461,423.41. Following the transaction, the chief executive officer now directly owns 668,503 shares in the company, valued at approximately $54,569,899.89. The disclosure for this sale can be found here. Corporate 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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