Wafra Investment Advisory Group Inc. NY Purchases New Position in Medtronic PLC (MDT)
Wafra Investment Advisory Group Inc. NY purchased a new stake in Medtronic PLC (NYSE:MDT) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 99,711 shares of the medical technology company’s stock, valued at approximately $8,033,000.
Other hedge funds have also modified their holdings of the company. Israel Discount Bank of New York bought a new position in shares of Medtronic PLC during the first quarter valued at approximately $117,000. Birch Hill Investment Advisors LLC bought a new position in shares of Medtronic PLC during the first quarter valued at approximately $120,000. Baystate Wealth Management LLC raised its position in shares of Medtronic PLC by 40.9% in the first quarter. Baystate Wealth Management LLC now owns 1,959 shares of the medical technology company’s stock valued at $157,000 after buying an additional 569 shares in the last quarter. North Star Investment Management Corp. raised its position in shares of Medtronic PLC by 4.4% in the first quarter. North Star Investment Management Corp. now owns 1,973 shares of the medical technology company’s stock valued at $159,000 after buying an additional 83 shares in the last quarter. Finally, Hudock Capital Group LLC raised its position in shares of Medtronic PLC by 0.6% in the first quarter. Hudock Capital Group LLC now owns 2,184 shares of the medical technology company’s stock valued at $175,000 after buying an additional 12 shares in the last quarter. 80.49% of the stock is currently owned by institutional investors and hedge funds.
Medtronic PLC (NYSE:MDT) traded down 0.71% during midday trading on Friday, hitting $80.05. The company had a trading volume of 3,133,488 shares. Medtronic PLC has a one year low of $69.35 and a one year high of $89.72. The company’s 50 day moving average is $83.42 and its 200-day moving average is $83.52. The company has a market cap of $109.02 billion, a P/E ratio of 26.94 and a beta of 1.03.
Medtronic PLC (NYSE:MDT) last released its earnings results 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. The firm had revenue of $7.39 billion for the quarter, compared to analyst estimates of $7.44 billion. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The company’s revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.03 EPS. On average, equities analysts predict that Medtronic PLC will post $4.76 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, September 29th will be given 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 2.30%. Medtronic PLC’s dividend payout ratio is currently 61.95%.
Several brokerages have commented on MDT. UBS AG reiterated a “buy” rating and issued a $95.00 price target (up from $94.00) on shares of Medtronic PLC in a research note on Tuesday, May 30th. BidaskClub upgraded shares of Medtronic PLC from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $92.00 price target on shares of Medtronic PLC in a research note on Tuesday, August 22nd. Zacks Investment Research lowered shares of Medtronic PLC from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $90.00 price target on shares of Medtronic PLC in a research note on Monday, August 21st. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company’s stock. Medtronic PLC currently has a consensus rating of “Hold” and an average target price of $88.78.
In other Medtronic PLC news, EVP Bryan C. Hanson sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $88.57, for a total value of $1,062,840.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard H. Anderson acquired 5,600 shares of Medtronic PLC stock in a transaction on Wednesday, June 21st. The stock was purchased at an average price of $88.90 per share, with a total value of $497,840.00. Following the transaction, the director now directly owns 71,910 shares in the company, valued at approximately $6,392,799. The disclosure for this purchase can be found here. 0.25% of the stock is currently owned by company insiders.
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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