Pflug Koory LLC lessened its stake in Medtronic PLC (NYSE:MDT) by 0.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 11,830 shares of the medical technology company’s stock after selling 100 shares during the quarter. Pflug Koory LLC’s holdings in Medtronic were worth $1,152,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of MDT. Cornerstone Advisors Inc. increased its holdings in Medtronic by 8.1% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,621 shares of the medical technology company’s stock worth $158,000 after buying an additional 122 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its holdings in Medtronic by 3.1% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 4,129 shares of the medical technology company’s stock worth $376,000 after buying an additional 126 shares in the last quarter. Hanson & Doremus Investment Management increased its holdings in Medtronic by 0.9% in the 1st quarter. Hanson & Doremus Investment Management now owns 14,416 shares of the medical technology company’s stock worth $1,313,000 after buying an additional 128 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in Medtronic by 9.8% in the 1st quarter. Parkside Financial Bank & Trust now owns 1,432 shares of the medical technology company’s stock worth $131,000 after buying an additional 128 shares in the last quarter. Finally, Merit Financial Group LLC increased its holdings in Medtronic by 3.4% in the 1st quarter. Merit Financial Group LLC now owns 4,182 shares of the medical technology company’s stock worth $380,000 after buying an additional 136 shares in the last quarter. 80.65% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have issued reports on MDT. ValuEngine downgraded Medtronic from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Wells Fargo & Co upgraded Medtronic from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $100.00 to $110.00 in a research note on Tuesday, June 4th. Royal Bank of Canada boosted their price target on Medtronic to $110.00 and gave the company an “outperform” rating in a research note on Friday. Northland Securities restated a “hold” rating and set a $100.00 price target on shares of Medtronic in a research note on Thursday, June 20th. Finally, Oppenheimer set a $110.00 price target on Medtronic and gave the company a “buy” rating in a research note on Monday, July 15th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Medtronic currently has an average rating of “Buy” and a consensus target price of $106.86.
Shares of NYSE:MDT traded up $1.20 during mid-day trading on Friday, reaching $102.95. 2,233,458 shares of the company traded hands, compared to its average volume of 4,209,665. The company’s 50 day moving average price is $100.44 and its 200-day moving average price is $93.48. The firm has a market cap of $137.33 billion, a PE ratio of 19.72, a PEG ratio of 2.62 and a beta of 0.67. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.59 and a quick ratio of 2.15. Medtronic PLC has a 52 week low of $81.66 and a 52 week high of $103.95.
Medtronic (NYSE:MDT) last announced its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.07. The company had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.12 billion. Medtronic had a return on equity of 14.16% and a net margin of 15.15%. The firm’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the company posted $1.42 EPS. On average, research analysts predict that Medtronic PLC will post 5.48 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Monday, July 8th were paid a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, July 5th. This is an increase from Medtronic’s previous quarterly dividend of $0.50. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.10%. Medtronic’s payout ratio is 41.38%.
In related news, SVP Richard Kuntz sold 3,438 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $101.12, for a total transaction of $347,650.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard H. Anderson acquired 10,900 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were bought at an average price of $92.40 per share, with a total value of $1,007,160.00. Following the completion of the purchase, the director now owns 89,912 shares in the company, valued at approximately $8,307,868.80. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 95,701 shares of company stock valued at $9,318,744. 0.28% of the stock is currently owned by corporate insiders.
Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.
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