North Star Asset Management Inc. held its stake in shares of Medtronic PLC (NYSE:MDT) during the second quarter, according to its most recent filing with the SEC. The fund owned 25,417 shares of the medical technology company’s stock at the end of the second quarter. North Star Asset Management Inc.’s holdings in Medtronic PLC were worth $1,906,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Dubuque Bank & Trust Co. raised its stake in shares of Medtronic PLC by 77.6% in the first quarter. Dubuque Bank & Trust Co. now owns 56,147 shares of the medical technology company’s stock worth $4,211,000 after buying an additional 24,533 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Medtronic PLC during the first quarter valued at $3,603,000. Ngam Advisors L.P. raised its position in Medtronic PLC by 10.6% in the first quarter. Ngam Advisors L.P. now owns 361,080 shares of the medical technology company’s stock valued at $27,080,000 after buying an additional 34,500 shares during the last quarter. Teachers Advisors Inc. raised its position in Medtronic PLC by 5.0% in the first quarter. Teachers Advisors Inc. now owns 2,743,986 shares of the medical technology company’s stock valued at $205,799,000 after buying an additional 131,741 shares during the last quarter. Finally, Stratos Wealth Partners LTD. raised its position in Medtronic PLC by 14.4% in the first quarter. Stratos Wealth Partners LTD. now owns 11,238 shares of the medical technology company’s stock valued at $843,000 after buying an additional 1,412 shares during the last quarter. Institutional investors and hedge funds own 83.11% of the company’s stock.
Medtronic PLC (NYSE:MDT) traded down 4.33% during mid-day trading on Tuesday, reaching $82.44. The company had a trading volume of 5,740,433 shares. Medtronic PLC has a 12-month low of $71.03 and a 12-month high of $89.27. The firm has a 50-day moving average price of $86.43 and a 200 day moving average price of $83.83. The firm has a market capitalization of $113.93 billion, a price-to-earnings ratio of 32.08 and a beta of 0.88.
Medtronic PLC (NYSE:MDT) last announced its quarterly earnings results on Thursday, August 25th. The medical technology company reported $1.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.02. Medtronic PLC had a net margin of 12.70% and a return on equity of 12.06%. The firm earned $7.20 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same period last year, the firm earned $1.02 EPS. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. Analysts expect that Medtronic PLC will post $4.66 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Shareholders of record on Thursday, September 29th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 2.00%. The ex-dividend date is Tuesday, September 27th. Medtronic PLC’s payout ratio is 66.93%.
Several analysts have recently issued reports on the company. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Medtronic PLC in a research note on Wednesday, July 6th. Argus reiterated a “hold” rating on shares of Medtronic PLC in a research note on Monday, June 20th. Zacks Investment Research upgraded Medtronic PLC from a “hold” rating to a “buy” rating and set a $97.00 price target for the company in a research note on Tuesday, August 9th. Credit Suisse Group AG reiterated an “outperform” rating and set a $92.00 price target on shares of Medtronic PLC in a research note on Thursday, August 25th. Finally, Citigroup Inc. assumed coverage on Medtronic PLC in a research note on Tuesday, August 23rd. They set a “buy” rating and a $102.00 price target for the company. Six research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $90.12.
In other Medtronic PLC news, EVP Gary Lee Ellis sold 35,495 shares of the firm’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 $3,146,276.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Omar Ishrak sold 61,925 shares of the firm’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $84.93, for a total transaction of $5,259,290.25. Following the completion of the transaction, the chief executive officer now directly owns 565,916 shares of the company’s stock, valued at $48,063,245.88. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.
About Medtronic PLC
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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