Court Place Advisors LLC lowered its position in Medtronic PLC (NYSE:MDT) by 3.9% during the second quarter, Holdings Channel reports. The firm owned 3,545 shares of the medical technology company’s stock after selling 143 shares during the period. Court Place Advisors LLC’s holdings in Medtronic PLC were worth $315,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Medtronic PLC by 2,513.4% in the first quarter. BlackRock Inc. now owns 87,035,376 shares of the medical technology company’s stock worth $7,011,571,000 after buying an additional 83,705,052 shares during the period. Lazard Asset Management LLC boosted its position in Medtronic PLC by 1,061.4% in the first quarter. Lazard Asset Management LLC now owns 13,678,772 shares of the medical technology company’s stock worth $1,101,960,000 after buying an additional 12,500,992 shares during the period. Vanguard Group Inc. boosted its position in Medtronic PLC by 4.5% in the first quarter. Vanguard Group Inc. now owns 102,321,656 shares of the medical technology company’s stock worth $8,243,034,000 after buying an additional 4,412,536 shares during the period. Wells Fargo & Company MN boosted its position in Medtronic PLC by 18.9% in the first quarter. Wells Fargo & Company MN now owns 11,932,572 shares of the medical technology company’s stock worth $961,288,000 after buying an additional 1,895,386 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in Medtronic PLC by 3.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 58,646,070 shares of the medical technology company’s stock worth $4,724,526,000 after buying an additional 1,729,715 shares during the period. 83.36% of the stock is owned by hedge funds and other institutional investors.

Medtronic PLC (NYSE MDT) traded down 0.71% on Thursday, hitting $83.35. The stock had a trading volume of 1,431,656 shares. The stock has a market capitalization of $113.27 billion, a price-to-earnings ratio of 28.84 and a beta of 1.02. The company has a 50-day moving average price of $86.49 and a 200-day moving average price of $82.81. Medtronic PLC has a 1-year low of $69.35 and a 1-year high of $89.72.

Medtronic PLC (NYSE:MDT) last announced its quarterly earnings data on Thursday, May 25th. The medical technology company reported $1.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.02. The company had revenue of $7.92 billion for the quarter, compared to analysts’ expectations of $7.86 billion. Medtronic PLC had a return on equity of 12.72% and a net margin of 13.56%. Medtronic PLC’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the firm posted $1.27 EPS. Equities analysts predict that Medtronic PLC will post $4.81 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Friday, July 7th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.19%. 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 dividend payout ratio (DPR) is currently 63.67%.

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MDT has been the subject of a number of research analyst reports. Evercore ISI lifted their price objective on shares of Medtronic PLC from $88.00 to $88.50 and gave the stock an “outperform” rating in a research report on Wednesday, April 19th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $85.00 price objective on shares of Medtronic PLC in a research report on Tuesday, April 18th. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Medtronic PLC in a research report on Tuesday, May 16th. They set a “neutral” rating and a $87.00 price objective for the company. Zacks Investment Research cut shares of Medtronic PLC from a “hold” rating to a “sell” rating in a research report on Tuesday, May 23rd. Finally, BMO Capital Markets lifted their price objective on shares of Medtronic PLC from $87.00 to $94.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 30th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company. Medtronic PLC has a consensus rating of “Hold” and an average target price of $89.84.

In related news, EVP Bryan C. Hanson sold 12,000 shares of the firm’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $88.57, for a total transaction of $1,062,840.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard H. Anderson acquired 5,600 shares of the firm’s stock in a transaction that occurred on Wednesday, June 21st. The shares were purchased at an average cost 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 approximately $6,392,799. The disclosure for this purchase can be found here. Company 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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Institutional Ownership by Quarter for Medtronic PLC (NYSE:MDT)

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