Stock Yards Bank & Trust Co. raised its position in Medtronic PLC (NYSE:MDT) by 33.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,367 shares of the medical technology company’s stock after buying an additional 835 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Medtronic were worth $332,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Ballew Advisors Inc acquired a new position in Medtronic in the second quarter valued at about $100,000. BDO Wealth Advisors LLC boosted its position in Medtronic by 99.6% in the first quarter. BDO Wealth Advisors LLC now owns 1,427 shares of the medical technology company’s stock valued at $115,000 after buying an additional 712 shares in the last quarter. Fort L.P. acquired a new position in Medtronic in the second quarter valued at about $121,000. Global Trust Asset Management LLC boosted its position in Medtronic by 112.1% in the second quarter. Global Trust Asset Management LLC now owns 1,523 shares of the medical technology company’s stock valued at $130,000 after buying an additional 805 shares in the last quarter. Finally, Trustcore Financial Services LLC boosted its position in Medtronic by 97.3% in the second quarter. Trustcore Financial Services LLC now owns 1,760 shares of the medical technology company’s stock valued at $151,000 after buying an additional 868 shares in the last quarter. Hedge funds and other institutional investors own 79.90% of the company’s stock.

In other Medtronic news, Director Richard H. Anderson acquired 2,600 shares of the business’s stock in a transaction that occurred on Thursday, August 23rd. The shares were acquired at an average cost of $95.88 per share, for a total transaction of $249,288.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael J. Coyle sold 145,544 shares of the stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $95.50, for a total transaction of $13,899,452.00. Following the completion of the transaction, the executive vice president now owns 190,680 shares in the company, valued at $18,209,940. The disclosure for this sale can be found here. Insiders sold 268,678 shares of company stock worth $25,818,353 over the last 90 days. 0.28% of the stock is currently owned by company insiders.

A number of equities analysts have commented on the stock. Needham & Company LLC upgraded shares of Medtronic from a “buy” rating to a “strong-buy” rating and boosted their price target for the company from $103.00 to $119.00 in a research report on Monday, August 13th. Wells Fargo & Co upped their target price on shares of Medtronic from $95.00 to $101.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 22nd. Stifel Nicolaus upped their target price on shares of Medtronic from $87.00 to $96.00 and gave the stock a “hold” rating in a research report on Wednesday, August 22nd. Morgan Stanley upped their target price on shares of Medtronic from $95.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 22nd. Finally, Argus upped their target price on shares of Medtronic from $95.00 to $108.00 and gave the stock a “buy” rating in a research report on Monday, August 27th. Eight equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Medtronic presently has an average rating of “Buy” and a consensus price target of $101.50.

Shares of MDT stock opened at $93.82 on Tuesday. Medtronic PLC has a 1 year low of $76.41 and a 1 year high of $100.15. The company has a market cap of $132.85 billion, a PE ratio of 19.67, a P/E/G ratio of 2.61 and a beta of 0.92. The company has a current ratio of 2.46, a quick ratio of 2.06 and a debt-to-equity ratio of 0.47.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 21st. The medical technology company reported $1.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.06. Medtronic had a net margin of 10.56% and a return on equity of 12.98%. The business had revenue of $7.38 billion for the quarter, compared to analyst estimates of $7.24 billion. During the same period in the prior year, the business posted $1.12 earnings per share. Medtronic’s revenue was down .1% compared to the same quarter last year. Research analysts predict that Medtronic PLC will post 5.12 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 19th. Investors of record on Friday, September 28th will be issued a $0.50 dividend. The ex-dividend date is Thursday, September 27th. This represents a $2.00 annualized dividend and a yield of 2.13%. Medtronic’s dividend payout ratio is currently 41.93%.

Medtronic Profile

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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