Medtronic PLC (NYSE:MDT) Shares Acquired by Welch & Forbes LLC

Welch & Forbes LLC lifted its holdings in shares of Medtronic PLC (NYSE:MDT) by 4.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 152,315 shares of the medical technology company’s stock after acquiring an additional 6,658 shares during the period. Welch & Forbes LLC’s holdings in Medtronic were worth $16,544,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Burns J W & Co. Inc. NY boosted its position in shares of Medtronic by 2.7% during the third quarter. Burns J W & Co. Inc. NY now owns 8,433 shares of the medical technology company’s stock worth $916,000 after buying an additional 225 shares during the period. VeraBank N.A. boosted its position in shares of Medtronic by 1.8% during the third quarter. VeraBank N.A. now owns 6,827 shares of the medical technology company’s stock worth $742,000 after buying an additional 122 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its position in shares of Medtronic by 13.0% during the third quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 14,804 shares of the medical technology company’s stock worth $1,608,000 after buying an additional 1,708 shares during the period. Community Trust & Investment Co. acquired a new position in shares of Medtronic during the third quarter worth approximately $22,229,000. Finally, Rockland Trust Co. boosted its position in shares of Medtronic by 18.1% during the third quarter. Rockland Trust Co. now owns 7,892 shares of the medical technology company’s stock worth $844,000 after buying an additional 1,210 shares during the period. Institutional investors and hedge funds own 81.03% of the company’s stock.

In other news, SVP Richard Kuntz sold 3,438 shares of the stock in a transaction 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 is accessible through the SEC website. Also, EVP Hooman Hakami sold 82,877 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $107.31, for a total value of $8,893,530.87. Following the sale, the executive vice president now owns 30,761 shares of the company’s stock, valued at approximately $3,300,962.91. The disclosure for this sale can be found here. Insiders have sold a total of 118,339 shares of company stock valued at $12,619,053 in the last quarter. Insiders own 0.28% of the company’s stock.

Several equities analysts have recently issued reports on MDT shares. Wells Fargo & Co boosted their price objective on Medtronic from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Bank of America set a $118.00 price objective on Medtronic and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Cowen restated an “outperform” rating and issued a $111.00 target price (up from $99.00) on shares of Medtronic in a research report on Wednesday, August 14th. Oppenheimer upped their target price on Medtronic from $110.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Finally, BMO Capital Markets upped their target price on Medtronic from $107.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $113.84.

MDT traded up $0.84 during trading on Friday, reaching $108.26. The stock had a trading volume of 154,259 shares, compared to its average volume of 4,680,946. The firm has a market capitalization of $140.89 billion, a price-to-earnings ratio of 20.74, a price-to-earnings-growth ratio of 2.58 and a beta of 0.64. The company has a quick ratio of 2.20, a current ratio of 2.67 and a debt-to-equity ratio of 0.49. Medtronic PLC has a 1-year low of $81.66 and a 1-year high of $112.05. The stock has a 50 day moving average of $108.18 and a two-hundred day moving average of $97.98.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, August 20th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.08. Medtronic had a return on equity of 14.36% and a net margin of 14.41%. The firm had revenue of $7.49 billion during the quarter, compared to the consensus estimate of $7.40 billion. During the same period in the prior year, the firm posted $1.17 earnings per share. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, research analysts forecast that Medtronic PLC will post 5.56 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, September 27th will be given a dividend of $0.54 per share. The ex-dividend date is Thursday, September 26th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.00%. Medtronic’s dividend payout ratio (DPR) is presently 41.38%.

Medtronic Profile

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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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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