State Treasurer State of Michigan Has $39.92 Million Position in Medtronic PLC (MDT)

State Treasurer State of Michigan boosted its stake in shares of Medtronic PLC (NYSE:MDT) by 0.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 449,838 shares of the medical technology company’s stock after buying an additional 200 shares during the period. State Treasurer State of Michigan’s holdings in Medtronic PLC were worth $39,923,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Jackson Grant Investment Advisers Inc. increased its position in shares of Medtronic PLC by 0.3% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 2,920 shares of the medical technology company’s stock valued at $235,000 after buying an additional 9 shares during the period. Hudock Capital Group LLC increased its position in shares of Medtronic PLC by 0.6% in the first quarter. Hudock Capital Group LLC now owns 2,184 shares of the medical technology company’s stock valued at $175,000 after buying an additional 12 shares during the period. Delta Asset Management LLC TN increased its position in shares of Medtronic PLC by 0.4% in the first quarter. Delta Asset Management LLC TN now owns 3,713 shares of the medical technology company’s stock valued at $299,000 after buying an additional 13 shares during the period. Bollard Group LLC increased its position in shares of Medtronic PLC by 0.4% in the first quarter. Bollard Group LLC now owns 3,637 shares of the medical technology company’s stock valued at $293,000 after buying an additional 14 shares during the period. Finally, Triangle Securities Wealth Management increased its position in shares of Medtronic PLC by 0.3% in the second quarter. Triangle Securities Wealth Management now owns 4,396 shares of the medical technology company’s stock valued at $390,000 after buying an additional 15 shares during the period. 83.36% of the stock is owned by institutional investors.

Medtronic PLC (NYSE:MDT) traded up 0.81% during mid-day trading on Friday, reaching $83.71. The company’s stock had a trading volume of 4,302,167 shares. The company has a market cap of $113.76 billion, a price-to-earnings ratio of 28.97 and a beta of 1.02. The stock’s 50 day moving average is $86.18 and its 200 day moving average is $82.87. Medtronic PLC has a 12 month low of $69.35 and a 12 month high of $89.72.

Medtronic PLC (NYSE:MDT) last issued its earnings results on Thursday, May 25th. The medical technology company reported $1.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.02. Medtronic PLC had a return on equity of 12.72% and a net margin of 13.56%. The firm had revenue of $7.92 billion for the quarter, compared to analysts’ expectations of $7.86 billion. During the same quarter last year, the business earned $1.27 earnings per share. The company’s revenue was up 4.6% compared to the same quarter last year. Equities research analysts predict that Medtronic PLC will post $4.81 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th were issued a dividend of $0.46 per share. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $1.84 dividend on an annualized basis and a yield of 2.20%. This is a boost from Medtronic PLC’s previous quarterly dividend of $0.43. Medtronic PLC’s dividend payout ratio (DPR) is 63.67%.

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Several equities analysts have recently issued reports on the stock. UBS AG reissued a “buy” rating and set a $95.00 price target (up previously from $94.00) on shares of Medtronic PLC in a report on Tuesday, May 30th. BidaskClub raised shares of Medtronic PLC from a “sell” rating to a “hold” rating in a report on Friday. Jefferies Group LLC reaffirmed a “buy” rating and issued a $103.00 price objective on shares of Medtronic PLC in a report on Thursday, August 3rd. CIBC reaffirmed a “buy” rating on shares of Medtronic PLC in a report on Friday, May 26th. Finally, Barclays PLC reaffirmed an “overweight” rating and issued a $94.00 price objective (up previously from $92.00) on shares of Medtronic PLC in a report on Sunday, May 28th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $89.84.

In other Medtronic PLC news, Director Richard H. Anderson purchased 5,600 shares of the company’s stock in a transaction dated Wednesday, June 21st. The shares were bought at an average price of $88.90 per share, with a total value of $497,840.00. Following the completion of the transaction, the director now directly owns 71,910 shares in the company, valued at approximately $6,392,799. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Bryan C. Hanson sold 12,000 shares of the firm’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $88.57, for a total value of $1,062,840.00. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company 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.

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

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