Medtronic PLC (MDT) Holdings Boosted by BTC Capital Management Inc.
BTC Capital Management Inc. boosted its stake in shares of Medtronic PLC (NYSE:MDT) by 1.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,499 shares of the medical technology company’s stock after purchasing an additional 505 shares during the period. BTC Capital Management Inc.’s holdings in Medtronic PLC were worth $2,797,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. RMB Capital Management LLC purchased a new position in Medtronic PLC in the first quarter valued at approximately $4,576,000. Lazard Asset Management LLC lifted its position in Medtronic PLC by 1,061.4% during the first quarter. Lazard Asset Management LLC now owns 13,678,772 shares of the medical technology company’s stock valued at $1,101,960,000 after buying an additional 12,500,992 shares in the last quarter. WealthTrust Arizona LLC lifted its position in Medtronic PLC by 9.7% during the second quarter. WealthTrust Arizona LLC now owns 4,994 shares of the medical technology company’s stock valued at $443,000 after buying an additional 441 shares in the last quarter. Geode Capital Management LLC lifted its position in Medtronic PLC by 7.3% during the first quarter. Geode Capital Management LLC now owns 13,308,812 shares of the medical technology company’s stock valued at $1,070,622,000 after buying an additional 906,581 shares in the last quarter. Finally, Epoch Investment Partners Inc. lifted its position in Medtronic PLC by 1,024.0% during the first quarter. Epoch Investment Partners Inc. now owns 302,703 shares of the medical technology company’s stock valued at $24,386,000 after buying an additional 275,771 shares in the last quarter. 80.63% of the stock is currently owned by institutional investors.
Medtronic PLC (NYSE:MDT) opened at 78.11 on Wednesday. The firm has a market cap of $105.81 billion, a price-to-earnings ratio of 26.29 and a beta of 1.01. Medtronic PLC has a 12 month low of $69.35 and a 12 month high of $89.72. The stock has a 50 day moving average price of $80.57 and a 200 day moving average price of $83.40.
Medtronic PLC (NYSE:MDT) last released its earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.04. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. The business had revenue of $7.39 billion during the quarter, compared to analysts’ expectations of $7.44 billion. During the same quarter last year, the company earned $1.03 earnings per share. The firm’s revenue was up 3.1% on a year-over-year basis. On average, equities analysts expect that Medtronic PLC will post $4.77 earnings per share for the current fiscal year.
The company also recently declared 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. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.84 annualized dividend and a yield of 2.36%. Medtronic PLC’s dividend payout ratio is 61.95%.
In other Medtronic PLC news, EVP Bryan C. Hanson sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $88.57, for a total value of $1,062,840.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Omar Ishrak sold 140,407 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 668,503 shares of the company’s stock, valued at approximately $54,569,899.89. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.
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Several equities research analysts have issued reports on MDT shares. Jefferies Group LLC reiterated a “buy” rating and set a $103.00 price objective on shares of Medtronic PLC in a research note on Thursday, August 3rd. Deutsche Bank AG set a $96.00 target price on shares of Medtronic PLC and gave the company a “buy” rating in a research note on Monday, July 31st. BidaskClub lowered shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Medtronic PLC in a report on Tuesday, July 18th. Finally, Cowen and Company set a $95.00 price target on shares of Medtronic PLC and gave the stock a “buy” rating in a research report on Tuesday, August 22nd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $89.12.
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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