Trust Co. of Vermont Acquires 712 Shares of Medtronic PLC (MDT)
Trust Co. of Vermont raised its holdings in Medtronic PLC (NYSE:MDT) by 4.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,625 shares of the medical technology company’s stock after acquiring an additional 712 shares during the quarter. Trust Co. of Vermont’s holdings in Medtronic PLC were worth $1,476,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in MDT. Jackson Grant Investment Advisers Inc. boosted its position in shares of Medtronic PLC by 0.3% during the first quarter. Jackson Grant Investment Advisers Inc. now owns 2,920 shares of the medical technology company’s stock worth $235,000 after purchasing an additional 9 shares in the last quarter. Triangle Securities Wealth Management boosted its position in shares of Medtronic PLC by 0.3% during the second quarter. Triangle Securities Wealth Management now owns 4,396 shares of the medical technology company’s stock worth $390,000 after purchasing an additional 15 shares in the last quarter. Tarbox Group Inc. boosted its position in shares of Medtronic PLC by 0.4% during the first quarter. Tarbox Group Inc. now owns 5,180 shares of the medical technology company’s stock worth $417,000 after purchasing an additional 20 shares in the last quarter. Shufro Rose & Co. LLC boosted its position in shares of Medtronic PLC by 0.3% during the first quarter. Shufro Rose & Co. LLC now owns 10,381 shares of the medical technology company’s stock worth $836,000 after purchasing an additional 28 shares in the last quarter. Finally, Guardian Life Insurance Co. of America boosted its position in shares of Medtronic PLC by 0.6% during the first quarter. Guardian Life Insurance Co. of America now owns 5,288 shares of the medical technology company’s stock worth $426,000 after purchasing an additional 29 shares in the last quarter. 80.62% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Bryan C. Hanson sold 12,000 shares of the business’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 value of $1,062,840.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Omar Ishrak sold 140,407 shares of Medtronic PLC stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 668,503 shares in the company, valued at $54,569,899.89. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.
MDT has been the topic of a number of recent analyst reports. CIBC reissued a “buy” rating on shares of Medtronic PLC in a research report on Friday, May 26th. Needham & Company LLC reissued a “buy” rating and set a $95.00 price target (up from $91.00) on shares of Medtronic PLC in a research report on Thursday, May 25th. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $93.00 price target (up from $87.00) on shares of Medtronic PLC in a research report on Thursday, May 25th. UBS AG reaffirmed a “buy” rating and issued a $95.00 price objective (up from $94.00) on shares of Medtronic PLC in a research report on Tuesday, May 30th. Finally, BidaskClub cut shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $88.78.
Medtronic PLC (NYSE MDT) traded down 0.87% during trading on Wednesday, reaching $80.48. 2,573,892 shares of the company were exchanged. The company has a market capitalization of $109.02 billion, a P/E ratio of 27.09 and a beta of 1.03. Medtronic PLC has a one year low of $69.35 and a one year high of $89.72. The firm’s 50-day moving average is $82.04 and its 200 day moving average is $83.67.
Medtronic PLC (NYSE:MDT) last announced its earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, beating the 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 business had revenue of $7.39 billion during the quarter, compared to analyst estimates of $7.44 billion. During the same period in the previous year, the business posted $1.03 earnings per share. Medtronic PLC’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, analysts anticipate that Medtronic PLC will post $4.77 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, September 29th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.27%. Medtronic PLC’s payout ratio is 61.95%.
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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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