Trust Co trimmed its position in shares of Medtronic PLC (NYSE:MDT) by 10.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 24,785 shares of the medical technology company’s stock after selling 2,902 shares during the quarter. Trust Co’s holdings in Medtronic PLC were worth $1,997,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Israel Discount Bank of New York purchased a new stake in Medtronic PLC during the 1st quarter valued at about $117,000. Birch Hill Investment Advisors LLC purchased a new stake in Medtronic PLC during the 1st quarter valued at about $120,000. Farmers National Bank purchased a new stake in Medtronic PLC during the 1st quarter valued at about $121,000. Proficio Capital Partners LLC grew its position in Medtronic PLC by 33.3% during the 1st quarter. Proficio Capital Partners LLC now owns 1,811 shares of the medical technology company’s stock valued at $153,000 after purchasing an additional 452 shares during the last quarter. Finally, Harbour Capital Advisors LLC purchased a new stake in Medtronic PLC during the 1st quarter valued at about $154,000. 80.75% of the stock is currently owned by institutional investors.
Medtronic PLC (NYSE:MDT) traded up 0.39% during midday trading on Tuesday, reaching $81.88. 1,458,833 shares of the company’s stock were exchanged. The firm’s 50 day moving average is $82.58 and its 200 day moving average is $83.67. The firm has a market capitalization of $111.51 billion, a price-to-earnings ratio of 27.56 and a beta of 1.03. Medtronic PLC has a 52 week low of $69.35 and a 52 week high of $89.72.
Medtronic PLC (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 22nd. The medical technology company reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.04. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The firm had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.44 billion. During the same period in the prior year, the company earned $1.03 EPS. The firm’s revenue was up 3.1% compared to the same quarter last year. On average, equities analysts anticipate that Medtronic PLC will post $4.77 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, September 29th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Thursday, September 28th. Medtronic PLC’s dividend payout ratio is currently 61.95%.
Several analysts recently commented on MDT shares. BidaskClub raised shares of Medtronic PLC from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Zacks Investment Research downgraded shares of Medtronic PLC from a “hold” rating to a “sell” rating in a research report on Tuesday. Cowen and Company reissued an “outperform” rating and set a $95.00 price objective (up from $86.00) on shares of Medtronic PLC in a research report on Sunday, May 28th. CIBC reissued a “buy” rating on shares of Medtronic PLC in a research report on Friday, May 26th. Finally, Jefferies Group LLC restated a “buy” rating and set a $103.00 target price on shares of Medtronic PLC in a research note on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $88.78.
In other news, Director Richard H. Anderson acquired 5,600 shares of Medtronic PLC stock in a transaction that occurred on Wednesday, June 21st. The stock was purchased at an average cost of $88.90 per share, with a total value of $497,840.00. Following the purchase, the director now owns 71,910 shares in the company, valued at $6,392,799. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Bryan C. Hanson sold 12,000 shares of the stock in a transaction on Monday, July 17th. The shares were 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. 0.31% of the stock is currently owned by corporate insiders.
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Medtronic PLC 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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