Green Square Capital LLC continued to hold its stake in Medtronic Inc. (NYSE:MDT) during the second quarter, Holdings Channel reports. The firm owned 2,794 shares of the medical technology company’s stock at the end of the second quarter. Green Square Capital LLC’s holdings in Medtronic were worth $242,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. Kelman Lazarov Inc. raised its stake in Medtronic by 17.4% in the second quarter. Kelman Lazarov Inc. now owns 1,517 shares of the medical technology company’s stock worth $132,000 after buying an additional 225 shares during the last quarter. Arcadia Investment Management Corp MI raised its stake in Medtronic by 70.0% in the second quarter. Arcadia Investment Management Corp MI now owns 1,700 shares of the medical technology company’s stock worth $148,000 after buying an additional 700 shares during the last quarter. Kistler Tiffany Companies LLC raised its stake in Medtronic by 2.1% in the second quarter. Kistler Tiffany Companies LLC now owns 1,776 shares of the medical technology company’s stock worth $154,000 after buying an additional 36 shares during the last quarter. Telemus Capital LLC purchased a new position in shares of Medtronic during the second quarter valued at $214,000. Finally, Kovitz Investment Group Partners LLC purchased a new position in shares of Medtronic during the first quarter valued at $215,000. 83.11% of the stock is owned by institutional investors and hedge funds.
Shares of Medtronic Inc. (NYSE:MDT) traded up 0.63% during trading on Tuesday, reaching $86.67. 3,722,731 shares of the company’s stock traded hands. The company has a 50 day moving average price of $86.75 and a 200 day moving average price of $83.15. Medtronic Inc. has a 1-year low of $66.24 and a 1-year high of $89.27. The stock has a market capitalization of $119.77 billion, a PE ratio of 33.72 and a beta of 0.88.
Medtronic (NYSE:MDT) last posted its quarterly earnings results on Thursday, August 25th. The medical technology company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.02. The firm had revenue of $7.20 billion for the quarter, compared to analyst estimates of $7.17 billion. Medtronic had a return on equity of 12.06% and a net margin of 12.70%. Medtronic’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.02 earnings per share. On average, equities analysts forecast that Medtronic Inc. will post $4.66 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Thursday, September 29th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 1.98%. The ex-dividend date is Tuesday, September 27th. Medtronic’s payout ratio is 66.93%.
MDT has been the topic of several recent research reports. BMO Capital Markets reissued a “buy” rating on shares of Medtronic in a research report on Tuesday, June 7th. SunTrust Banks Inc. boosted their price target on shares of Medtronic from $93.00 to $98.00 and gave the company a “buy” rating in a research report on Monday, June 13th. Evercore ISI reissued a “buy” rating and set a $86.50 price target on shares of Medtronic in a research report on Monday, June 27th. Wells Fargo & Co. reissued a “buy” rating on shares of Medtronic in a research report on Tuesday, June 7th. Finally, Zacks Investment Research raised shares of Medtronic from a “hold” rating to a “buy” rating and set a $97.00 price target on the stock in a research report on Tuesday, August 9th. Six analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $90.12.
In related news, CEO Omar Ishrak sold 61,925 shares of the company’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $84.93, for a total transaction of $5,259,290.25. Following the transaction, the chief executive officer now directly owns 565,916 shares of the company’s stock, valued at $48,063,245.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Shirley A. Jackson sold 2,104 shares of the company’s stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $88.64, for a total value of $186,498.56. Following the transaction, the director now directly owns 34,503 shares in the company, valued at $3,058,345.92. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.
Medtronic plc (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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