Endurance Wealth Management Inc. Lowers Stake in Medtronic PLC (MDT)

Endurance Wealth Management Inc. decreased its position in shares of Medtronic PLC (NYSE:MDT) by 7.4% during the first quarter, Holdings Channel reports. The fund owned 1,848 shares of the medical technology company’s stock after selling 147 shares during the period. Endurance Wealth Management Inc.’s holdings in Medtronic PLC were worth $149,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in MDT. Dodge & Cox acquired a new stake in Medtronic PLC during the fourth quarter worth approximately $761,351,000. Norges Bank acquired a new stake in Medtronic PLC during the fourth quarter worth approximately $757,324,000. Franklin Resources Inc. boosted its stake in Medtronic PLC by 11.0% in the fourth quarter. Franklin Resources Inc. now owns 37,236,096 shares of the medical technology company’s stock worth $2,652,348,000 after buying an additional 3,694,537 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Medtronic PLC during the fourth quarter worth approximately $202,568,000. Finally, Wells Fargo & Company MN boosted its stake in Medtronic PLC by 18.9% in the first quarter. Wells Fargo & Company MN now owns 11,932,572 shares of the medical technology company’s stock worth $961,288,000 after buying an additional 1,895,386 shares during the period. Institutional investors and hedge funds own 82.48% of the company’s stock.

Medtronic PLC (NYSE MDT) opened at 89.15 on Tuesday. Medtronic PLC has a one year low of $69.35 and a one year high of $89.72. The firm has a market capitalization of $122.05 billion, a PE ratio of 30.85 and a beta of 1.04. The stock’s 50 day moving average price is $85.16 and its 200 day moving average price is $79.55.

Medtronic PLC (NYSE:MDT) last released its quarterly earnings results on Thursday, May 25th. The medical technology company reported $1.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.02. Medtronic PLC had a net margin of 13.56% and a return on equity of 12.72%. The business had revenue of $7.92 billion for the quarter, compared to analyst estimates of $7.86 billion. During the same quarter in the previous year, the business earned $1.27 earnings per share. The firm’s revenue was up 4.6% compared to the same quarter last year. Analysts expect that Medtronic PLC will post $4.95 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.06%. This is a positive change from Medtronic PLC’s previous quarterly dividend of $0.43. Medtronic PLC’s payout ratio is currently 59.52%.

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A number of equities research analysts have recently commented on MDT shares. CIBC restated a “buy” rating on shares of Medtronic PLC in a research report on Friday, May 26th. Needham & Company LLC restated a “buy” rating and set a $95.00 target price (up from $91.00) on shares of Medtronic PLC in a research report on Thursday, May 25th. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $93.00 target price (up from $87.00) on shares of Medtronic PLC in a research report on Thursday, May 25th. Royal Bank Of Canada restated a “buy” rating and set a $85.00 target price on shares of Medtronic PLC in a research report on Tuesday, April 18th. Finally, Morgan Stanley raised their target price on Medtronic PLC from $84.00 to $86.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 30th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $88.88.

In other news, Director Richard H. Anderson purchased 5,600 shares of the business’s stock in a transaction dated Wednesday, June 21st. The shares were acquired at an average price of $88.90 per share, for a total transaction of $497,840.00. Following the completion of the acquisition, the director now directly owns 71,910 shares of the company’s stock, valued at $6,392,799. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is owned by 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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Institutional Ownership by Quarter for Medtronic PLC (NYSE:MDT)

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