Wealthfront Inc. grew its holdings in shares of Medtronic PLC (NYSE:MDT) by 41.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,532 shares of the medical technology company’s stock after purchasing an additional 8,594 shares during the quarter. Wealthfront Inc.’s holdings in Medtronic PLC were worth $2,621,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Parkside Financial Bank & Trust boosted its position in Medtronic PLC by 22.4% during the second quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock worth $102,000 after purchasing an additional 210 shares during the period. BDO Wealth Advisors LLC bought a new position in Medtronic PLC during the second quarter worth about $103,000. Motco boosted its position in Medtronic PLC by 8.7% during the second quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after purchasing an additional 99 shares during the period. Israel Discount Bank of New York bought a new position in Medtronic PLC during the first quarter worth about $117,000. Finally, Birch Hill Investment Advisors LLC bought a new position in Medtronic PLC during the first quarter worth about $120,000. Hedge funds and other institutional investors own 80.91% of the company’s stock.

In other news, EVP Bryan C. Hanson sold 16,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $78.03, for a total value of $1,248,480.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 completion of the transaction, 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 owned by company insiders.

A number of equities research analysts have recently issued reports on MDT shares. Jefferies Group LLC lowered their price target on shares of Medtronic PLC from $103.00 to $96.00 and set a “buy” rating on the stock in a report on Wednesday, August 23rd. Deutsche Bank AG set a $96.00 price target on shares of Medtronic PLC and gave the stock a “buy” rating in a report on Monday, July 31st. BidaskClub downgraded shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Medtronic PLC in a report on Tuesday, July 18th. Finally, Cowen and Company set a $95.00 price target on shares of Medtronic PLC and gave the stock a “buy” rating in a report on Tuesday, August 22nd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $87.88.

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Medtronic PLC (NYSE MDT) opened at $79.33 on Friday. Medtronic PLC has a 52-week low of $69.35 and a 52-week high of $89.72. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.40 and a current ratio of 1.64. The company has a market cap of $109,464.49, a P/E ratio of 17.23, a price-to-earnings-growth ratio of 2.24 and a beta of 1.00.

Medtronic PLC (NYSE:MDT) last issued its quarterly 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. 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 for the quarter, compared to analysts’ expectations of $7.44 billion. During the same period last year, the business earned $1.03 earnings per share. The business’s quarterly revenue was up 3.1% on a year-over-year basis. equities research analysts predict that Medtronic PLC will post 4.64 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 20th. Shareholders of record on Friday, September 29th were given 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 was Thursday, September 28th. Medtronic PLC’s payout ratio is currently 61.95%.

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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Institutional Ownership by Quarter for Medtronic PLC (NYSE:MDT)

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