Medtronic plc. (NYSE:MDT) CEO Omar Ishrak sold 95,000 shares of the company’s stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $82.82, for a total transaction of $7,867,900.00. Following the completion of the sale, the chief executive officer now owns 645,616 shares in the company, valued at approximately $53,469,917.12. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Medtronic plc. (NYSE:MDT) opened at 81.42 on Tuesday. The company has a market capitalization of $111.45 billion, a P/E ratio of 28.74 and a beta of 0.97. Medtronic plc. has a 52-week low of $69.35 and a 52-week high of $89.27. The stock’s 50 day moving average is $79.29 and its 200-day moving average is $79.49.
Medtronic plc. (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 21st. The medical technology company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.11 by $0.01. Medtronic plc. had a net margin of 14.63% and a return on equity of 12.36%. The business had revenue of $7.28 billion for the quarter, compared to analyst estimates of $7.22 billion. During the same quarter in the previous year, the firm posted $1.06 earnings per share. Medtronic plc.’s quarterly revenue was up 5.0% on a year-over-year basis. Analysts predict that Medtronic plc. will post $4.58 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 13th. Investors of record on Friday, March 24th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 2.11%. The ex-dividend date is Wednesday, March 22nd. Medtronic plc.’s payout ratio is currently 57.14%.
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A number of large investors have recently bought and sold shares of MDT. Dodge & Cox acquired a new stake in Medtronic plc. during the fourth quarter valued at approximately $761,351,000. Norges Bank acquired a new stake in Medtronic plc. during the fourth quarter valued at approximately $757,324,000. The Manufacturers Life Insurance Company acquired a new stake in Medtronic plc. during the third quarter valued at approximately $429,674,000. Franklin Resources Inc. raised 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 valued at $2,652,348,000 after buying an additional 3,694,537 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in Medtronic plc. during the fourth quarter valued at approximately $214,311,000. 82.71% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on the stock. Deutsche Bank AG set a $96.00 target price on shares of Medtronic plc. and gave the stock a “buy” rating in a report on Sunday, January 8th. BTIG Research restated a “neutral” rating on shares of Medtronic plc. in a report on Monday. Zacks Investment Research upgraded shares of Medtronic plc. from a “sell” rating to a “hold” rating in a report on Thursday, February 23rd. Vetr lowered shares of Medtronic plc. from a “strong-buy” rating to a “buy” rating and set a $91.28 target price on the stock. in a report on Monday, November 21st. Finally, JPMorgan Chase & Co. lowered shares of Medtronic plc. from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $84.00 to $79.00 in a report on Tuesday, January 3rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Medtronic plc. has a consensus rating of “Buy” and an average price target of $87.57.
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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