Investment Centers of America Inc. Acquires 2,584 Shares of Medtronic PLC (NYSE:MDT)
Investment Centers of America Inc. raised its stake in shares of Medtronic PLC (NYSE:MDT) by 18.4% during the first quarter, Holdings Channel reports. The institutional investor owned 16,596 shares of the medical technology company’s stock after buying an additional 2,584 shares during the period. Investment Centers of America Inc.’s holdings in Medtronic PLC were worth $1,334,000 as of its most recent filing with the SEC.
Other large investors have also bought and sold shares of the company. Gotham Asset Management LLC acquired a new stake in Medtronic PLC during the first quarter valued at approximately $18,118,000. Signaturefd LLC raised its stake in Medtronic PLC by 88.8% in the first quarter. Signaturefd LLC now owns 7,021 shares of the medical technology company’s stock valued at $566,000 after buying an additional 3,302 shares in the last quarter. Sii Investments Inc. WI raised its stake in Medtronic PLC by 1.2% in the first quarter. Sii Investments Inc. WI now owns 5,772 shares of the medical technology company’s stock valued at $464,000 after buying an additional 68 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Medtronic PLC during the first quarter valued at approximately $4,708,000. Finally, Edmond DE Rothschild Holding S.A. raised its stake in Medtronic PLC by 2.0% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 174,632 shares of the medical technology company’s stock valued at $14,069,000 after buying an additional 3,405 shares in the last quarter. Institutional investors and hedge funds own 83.36% of the company’s stock.
Medtronic PLC (NYSE:MDT) traded up 0.81% during mid-day trading on Friday, hitting $83.71. 4,302,167 shares of the stock traded hands. The company has a 50 day moving average of $86.18 and a 200-day moving average of $82.87. The stock has a market cap of $113.76 billion, a PE ratio of 28.97 and a beta of 1.02. Medtronic PLC has a 12-month low of $69.35 and a 12-month high of $89.72.
Medtronic PLC (NYSE:MDT) last announced its earnings results 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. The business had revenue of $7.92 billion for the quarter, compared to analysts’ expectations of $7.86 billion. Medtronic PLC had a net margin of 13.56% and a return on equity of 12.72%. The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.27 EPS. Equities research analysts forecast that Medtronic PLC will post $4.81 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.20%. This is a boost from Medtronic PLC’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Wednesday, July 5th. Medtronic PLC’s payout ratio is presently 63.67%.
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Several equities research analysts have recently commented on the stock. BidaskClub upgraded shares of Medtronic PLC from a “sell” rating to a “hold” rating in a report on Friday. Jefferies Group LLC restated a “buy” rating and issued a $103.00 price target on shares of Medtronic PLC in a report on Thursday, August 3rd. Zacks Investment Research lowered shares of Medtronic PLC from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Deutsche Bank AG set a $96.00 price objective on shares of Medtronic PLC and gave the stock a “buy” rating in a research note on Monday, July 31st. Finally, Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Medtronic PLC in a research note on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the stock. Medtronic PLC has a consensus rating of “Hold” and an average target price of $89.84.
In other Medtronic PLC news, Director Richard H. Anderson bought 5,600 shares of the business’s stock in a transaction dated Wednesday, June 21st. The shares were acquired at an average cost of $88.90 per share, with a total value of $497,840.00. Following the acquisition, the director now directly owns 71,910 shares of the company’s stock, valued at approximately $6,392,799. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Bryan C. Hanson sold 12,000 shares of Medtronic PLC 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. Insiders own 0.25% of the company’s stock.
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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