Suntrust Banks Inc. Lowers Holdings in Medtronic PLC (MDT)
Suntrust Banks Inc. lessened its stake in Medtronic PLC (NYSE:MDT) by 2.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 391,943 shares of the medical technology company’s stock after selling 10,775 shares during the quarter. Suntrust Banks Inc.’s holdings in Medtronic PLC were worth $34,783,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of MDT. First National Trust Co. increased its position in Medtronic PLC by 3.9% in the 1st quarter. First National Trust Co. now owns 28,184 shares of the medical technology company’s stock valued at $2,271,000 after acquiring an additional 1,059 shares in the last quarter. Motley Fool Asset Management LLC increased its position in Medtronic PLC by 125.7% in the 1st quarter. Motley Fool Asset Management LLC now owns 133,772 shares of the medical technology company’s stock valued at $10,777,000 after acquiring an additional 74,500 shares in the last quarter. Clifford Swan Investment Counsel LLC increased its position in Medtronic PLC by 0.9% in the 1st quarter. Clifford Swan Investment Counsel LLC now owns 14,260 shares of the medical technology company’s stock valued at $1,149,000 after acquiring an additional 125 shares in the last quarter. Baird Financial Group Inc. grew its position in shares of Medtronic PLC by 6.6% during the 1st quarter. Baird Financial Group Inc. now owns 106,967 shares of the medical technology company’s stock worth $8,617,000 after buying an additional 6,632 shares during the period. Finally, Abbrea Capital LLC grew its position in shares of Medtronic PLC by 1.3% during the 1st quarter. Abbrea Capital LLC now owns 3,469 shares of the medical technology company’s stock worth $281,000 after buying an additional 45 shares during the period. Hedge funds and other institutional investors own 80.91% of the company’s stock.
In other news, CEO Omar Ishrak sold 140,407 shares of Medtronic PLC stock in a transaction that occurred 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 directly owns 668,503 shares in the company, valued at $54,569,899.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bryan C. Hanson sold 16,000 shares of Medtronic PLC stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $78.03, for a total transaction of $1,248,480.00. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.
Several equities research analysts have recently commented on the stock. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Medtronic PLC in a research report on Tuesday, July 18th. BidaskClub cut shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Zacks Investment Research cut shares of Medtronic PLC from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Deutsche Bank AG set a $96.00 price target on shares of Medtronic PLC and gave the stock a “buy” rating in a research report on Monday, July 31st. 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, ten have issued a hold rating and thirteen have issued a buy rating to the company. Medtronic PLC has an average rating of “Hold” and a consensus price target of $87.88.
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Medtronic PLC (NYSE:MDT) opened at $79.33 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.64 and a debt-to-equity ratio of 0.51. Medtronic PLC has a one year low of $69.35 and a one year high of $89.72. The firm has a market cap of $107,459.70, a P/E ratio of 16.91, a price-to-earnings-growth ratio of 2.20 and a beta of 1.00.
Medtronic PLC (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $7.39 billion for the quarter, compared to the consensus estimate of $7.44 billion. During the same period last year, the company earned $1.03 earnings per share. The firm’s revenue was up 3.1% compared to the same quarter last year. equities research analysts expect that Medtronic PLC will post 4.66 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 20th. Stockholders of record on Friday, September 29th were issued a $0.46 dividend. The ex-dividend date was Thursday, September 28th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.32%. Medtronic PLC’s dividend payout ratio (DPR) is presently 61.95%.
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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