Medtronic PLC (MDT) Holdings Raised by Oarsman Capital Inc.
Oarsman Capital Inc. raised its position in shares of Medtronic PLC (NYSE:MDT) by 0.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,343 shares of the medical technology company’s stock after acquiring an additional 130 shares during the period. Oarsman Capital Inc.’s holdings in Medtronic PLC were worth $1,362,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in MDT. Parkside Financial Bank & Trust boosted its holdings in Medtronic PLC by 22.4% during the second quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock valued at $102,000 after acquiring an additional 210 shares during the period. BDO Wealth Advisors LLC bought a new stake in Medtronic PLC during the second quarter valued at about $103,000. Motco boosted its holdings in Medtronic PLC by 8.7% during the second quarter. Motco now owns 1,239 shares of the medical technology company’s stock valued at $110,000 after acquiring an additional 99 shares during the period. Israel Discount Bank of New York bought a new stake in Medtronic PLC during the first quarter valued at about $117,000. Finally, Birch Hill Investment Advisors LLC bought a new stake in Medtronic PLC during the first quarter valued at about $120,000. Institutional investors own 80.81% of the company’s stock.
Medtronic PLC (NYSE:MDT) last issued its earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 EPS for the quarter, beating the consensus estimate of $1.08 by $0.04. The company had revenue of $7.39 billion during the quarter, compared to analysts’ expectations of $7.44 billion. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.03 EPS.
The company also recently announced a quarterly dividend, which was paid on Friday, October 20th. Stockholders of record on Friday, September 29th were given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was Thursday, September 28th. Medtronic PLC’s payout ratio is presently 61.95%.
In other news, EVP Bryan C. Hanson sold 16,000 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $78.03, for a total value of $1,248,480.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Omar Ishrak sold 140,407 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the completion of the transaction, the chief executive officer now owns 668,503 shares of the company’s stock, valued at $54,569,899.89. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.
Several equities research analysts recently weighed in on MDT shares. William Blair reiterated an “outperform” rating on shares of Medtronic PLC in a research note on Thursday, July 6th. Wells Fargo & Company reiterated an “outperform” rating on shares of Medtronic PLC in a research note on Wednesday, July 12th. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Medtronic PLC in a research note on Tuesday, July 18th. BidaskClub cut shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Finally, 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. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $87.88.
Medtronic PLC 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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