Foresters Investment Management Company Inc. raised its stake in shares of Medtronic PLC (NYSE:MDT) by 1.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 268,805 shares of the medical technology company’s stock after buying an additional 2,948 shares during the period. Foresters Investment Management Company Inc.’s holdings in Medtronic PLC were worth $21,655,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of MDT. Israel Discount Bank of New York acquired a new stake in shares of Medtronic PLC during the first quarter valued at $117,000. Birch Hill Investment Advisors LLC acquired a new stake in shares of Medtronic PLC during the first quarter valued at $120,000. Baystate Wealth Management LLC raised its stake in shares of Medtronic PLC by 40.9% in the first quarter. Baystate Wealth Management LLC now owns 1,959 shares of the medical technology company’s stock valued at $157,000 after buying an additional 569 shares during the period. North Star Investment Management Corp. raised its stake in shares of Medtronic PLC by 4.4% in the first quarter. North Star Investment Management Corp. now owns 1,973 shares of the medical technology company’s stock valued at $159,000 after buying an additional 83 shares during the period. Finally, Hudock Capital Group LLC raised its stake in shares of Medtronic PLC by 0.6% in the first quarter. Hudock Capital Group LLC now owns 2,184 shares of the medical technology company’s stock valued at $175,000 after buying an additional 12 shares during the period. Institutional investors and hedge funds own 80.49% of the company’s stock.

Shares of Medtronic PLC (MDT) traded down 0.16% during midday trading on Tuesday, reaching $79.46. 1,155,660 shares of the company’s stock traded hands. Medtronic PLC has a 52-week low of $69.35 and a 52-week high of $89.72. The stock has a market cap of $108.22 billion, a P/E ratio of 26.75 and a beta of 1.02. The stock has a 50-day moving average price of $84.48 and a 200-day moving average price of $83.39.

Medtronic PLC (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share (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 return on equity of 12.92% and a net margin of 13.75%. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.03 earnings per share. Analysts forecast that Medtronic PLC will post $4.76 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, September 29th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.84 dividend on an annualized basis and a yield of 2.31%. Medtronic PLC’s dividend payout ratio (DPR) is 61.95%.

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Several analysts have recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Medtronic PLC from $84.00 to $86.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 30th. Stifel Nicolaus reiterated a “hold” rating and set a $91.00 target price (up from $84.00) on shares of Medtronic PLC in a research report on Sunday, May 28th. William Blair reiterated an “outperform” rating on shares of Medtronic PLC in a research report on Thursday, July 6th. Evercore ISI restated an “outperform” rating and issued a $91.00 price target (up from $88.50) on shares of Medtronic PLC in a research report on Sunday, May 28th. 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. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $88.78.

In other news, Director Richard H. Anderson acquired 5,600 shares of the firm’s stock in a transaction on Wednesday, June 21st. The stock was acquired at an average price of $88.90 per share, for a total transaction of $497,840.00. Following the completion of the acquisition, the director now owns 71,910 shares in the company, valued at $6,392,799. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bryan C. Hanson sold 12,000 shares of the firm’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $88.57, for a total value of $1,062,840.00. The disclosure for this sale 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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Institutional Ownership by Quarter for Medtronic PLC (NYSE:MDT)

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