Trust Co. of Oklahoma Sells 87 Shares of Medtronic PLC (MDT)
Trust Co. of Oklahoma decreased its position in Medtronic PLC (NYSE:MDT) by 0.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,630 shares of the medical technology company’s stock after selling 87 shares during the quarter. Medtronic PLC accounts for approximately 1.2% of Trust Co. of Oklahoma’s holdings, making the stock its 24th largest holding. Trust Co. of Oklahoma’s holdings in Medtronic PLC were worth $2,363,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MDT. BlackRock Inc. raised its stake in shares of Medtronic PLC by 2,513.4% in the 1st quarter. BlackRock Inc. now owns 87,035,376 shares of the medical technology company’s stock valued at $7,011,571,000 after purchasing an additional 83,705,052 shares during the period. Lazard Asset Management LLC raised its stake in shares of Medtronic PLC by 1,061.4% in the 1st quarter. Lazard Asset Management LLC now owns 13,678,772 shares of the medical technology company’s stock valued at $1,101,960,000 after purchasing an additional 12,500,992 shares during the period. Vanguard Group Inc. raised its stake in shares of Medtronic PLC by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 102,321,656 shares of the medical technology company’s stock valued at $8,243,034,000 after purchasing an additional 4,412,536 shares during the period. Wells Fargo & Company MN raised its stake in shares of Medtronic PLC by 18.9% in the 1st quarter. Wells Fargo & Company MN now owns 11,932,572 shares of the medical technology company’s stock valued at $961,288,000 after purchasing an additional 1,895,386 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Medtronic PLC by 3.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 58,646,070 shares of the medical technology company’s stock valued at $4,724,526,000 after purchasing an additional 1,729,715 shares during the period. 80.62% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Medtronic PLC (NYSE MDT) traded up 0.21% during midday trading on Friday, hitting $79.70. The stock had a trading volume of 4,593,164 shares. The company has a market cap of $107.96 billion, a price-to-earnings ratio of 26.83 and a beta of 1.03. The stock’s 50-day moving average price is $82.04 and its 200 day moving average price is $83.67. Medtronic PLC has a 52 week low of $69.35 and a 52 week high of $89.72.
Medtronic PLC (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 22nd. The medical technology company reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.04. The firm had revenue of $7.39 billion during the quarter, compared to analyst estimates of $7.44 billion. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter last year, the business posted $1.03 EPS. On average, equities analysts forecast that Medtronic PLC will post $4.77 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.46 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.84 annualized dividend and a dividend yield of 2.31%. Medtronic PLC’s payout ratio is currently 61.95%.
In other news, EVP Bryan C. Hanson sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $88.57, for a total transaction of $1,062,840.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Omar Ishrak sold 140,407 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the sale, the chief executive officer now owns 668,503 shares of the company’s stock, valued at approximately $54,569,899.89. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.
Several analysts have issued reports on MDT shares. BidaskClub downgraded Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Medtronic PLC in a research note on Tuesday, July 18th. CIBC reissued a “buy” rating on shares of Medtronic PLC in a research note on Friday, May 26th. UBS AG reissued a “buy” rating and issued a $95.00 price target (up previously from $94.00) on shares of Medtronic PLC in a research note on Tuesday, May 30th. Finally, Deutsche Bank AG set a $96.00 price target on Medtronic PLC and gave the company a “buy” rating in a research note on Monday, July 31st. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company’s stock. Medtronic PLC has a consensus rating of “Hold” and an average price target of $88.78.
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About Medtronic PLC
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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