Medtronic PLC (NYSE:MDT) EVP Bryan C. Hanson sold 16,000 shares of Medtronic PLC stock in a transaction on Monday, October 16th. The shares were sold at an average price of $78.03, for a total value of $1,248,480.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Medtronic PLC (NYSE:MDT) opened at 81.30 on Friday. Medtronic PLC has a 52-week low of $69.35 and a 52-week high of $89.72. The firm has a market capitalization of $110.13 billion, a PE ratio of 27.36 and a beta of 1.01. The stock’s 50 day moving average price is $79.31 and its 200 day moving average price is $83.10.
Medtronic PLC (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.04. The company had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.44 billion. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 earnings per share. Analysts expect that Medtronic PLC will post $4.63 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 20th. Stockholders of record on Friday, September 29th were issued a dividend of $0.46 per share. The ex-dividend date was Thursday, September 28th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.26%. Medtronic PLC’s dividend payout ratio (DPR) is presently 61.95%.
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A number of large investors have recently made changes to their positions in the stock. Schwartz Investment Counsel Inc. raised its holdings in Medtronic PLC by 1.9% during the third quarter. Schwartz Investment Counsel Inc. now owns 533,907 shares of the medical technology company’s stock worth $41,522,000 after purchasing an additional 10,000 shares in the last quarter. Mosaic Family Wealth LLC raised its holdings in Medtronic PLC by 11.9% during the third quarter. Mosaic Family Wealth LLC now owns 11,546 shares of the medical technology company’s stock worth $898,000 after purchasing an additional 1,224 shares in the last quarter. Lee Danner & Bass Inc. raised its holdings in Medtronic PLC by 4.3% during the third quarter. Lee Danner & Bass Inc. now owns 58,368 shares of the medical technology company’s stock worth $4,539,000 after purchasing an additional 2,397 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in Medtronic PLC during the third quarter worth approximately $24,543,000. Finally, Sumitomo Mitsui Asset Management Company LTD raised its holdings in Medtronic PLC by 1.4% during the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 273,300 shares of the medical technology company’s stock worth $21,254,000 after purchasing an additional 3,683 shares in the last quarter. 80.75% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on the company. Jefferies Group LLC restated a “buy” rating and issued a $96.00 target price on shares of Medtronic PLC in a research report on Thursday, September 28th. William Blair restated an “outperform” rating on shares of Medtronic PLC in a research report on Thursday, July 6th. SunTrust Banks, Inc. restated a “buy” rating and issued a $96.00 target price on shares of Medtronic PLC in a research report on Monday, October 2nd. Zacks Investment Research downgraded Medtronic PLC from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Finally, BidaskClub downgraded Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the stock. Medtronic PLC presently has an average rating of “Hold” and a consensus price target of $87.88.
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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