MML Investors Services LLC Boosts Stake in Medtronic PLC (MDT)
MML Investors Services LLC increased its position in Medtronic PLC (NYSE:MDT) by 19.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 34,870 shares of the medical technology company’s stock after purchasing an additional 5,606 shares during the period. MML Investors Services LLC’s holdings in Medtronic PLC were worth $3,095,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of MDT. Parkside Financial Bank & Trust raised its stake in Medtronic PLC by 22.4% during the 2nd 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 last quarter. BDO Wealth Advisors LLC purchased a new stake in Medtronic PLC during the 2nd quarter valued at approximately $103,000. Motco raised its stake in Medtronic PLC by 8.7% during the 2nd 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 last quarter. Farmers National Bank purchased a new stake in Medtronic PLC during the 1st quarter valued at approximately $121,000. Finally, Norway Savings Bank raised its stake in Medtronic PLC by 2.7% during the 2nd quarter. Norway Savings Bank now owns 1,427 shares of the medical technology company’s stock valued at $127,000 after acquiring an additional 38 shares during the last quarter. 80.91% of the stock is owned by institutional investors and hedge funds.
Shares of Medtronic PLC (MDT) opened at $79.33 on Friday. The company has a market capitalization of $109,464.49, a price-to-earnings ratio of 17.23, a price-to-earnings-growth ratio of 2.24 and a beta of 1.00. The company has a current ratio of 1.64, a quick ratio of 1.40 and a debt-to-equity ratio of 0.51. Medtronic PLC has a fifty-two week low of $69.35 and a fifty-two week high of $89.72.
Medtronic PLC (NYSE:MDT) last announced its earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.04. The firm had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.44 billion. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. Medtronic PLC’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.03 EPS. equities research analysts forecast that Medtronic PLC will post 4.64 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 20th. Shareholders of record on Friday, September 29th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend was Thursday, September 28th. Medtronic PLC’s dividend payout ratio (DPR) is presently 61.95%.
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In other Medtronic PLC news, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction on Monday, October 16th. The stock was sold at an average price of $78.03, for a total transaction of $1,248,480.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Omar Ishrak sold 140,407 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $81.63, for a total value of $11,461,423.41. Following the sale, the chief executive officer now owns 668,503 shares in the company, valued at approximately $54,569,899.89. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.
Several research firms have commented on MDT. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of Medtronic PLC in a research note on Tuesday, July 18th. BidaskClub downgraded Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Zacks Investment Research downgraded 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 Medtronic PLC and gave the company a “buy” rating in a research note on Monday, July 31st. Finally, Cowen and Company set a $95.00 price objective on Medtronic PLC and gave the company a “buy” rating in a research note on Tuesday, August 22nd. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the stock. Medtronic PLC presently has an average rating of “Hold” and a consensus 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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