Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in shares of Medtronic PLC (NYSE:MDT) by 3.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 348,394 shares of the medical technology company’s stock after selling 13,489 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Medtronic PLC were worth $30,920,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Dupont Capital Management Corp grew its holdings in Medtronic PLC by 28.8% during the second quarter. Dupont Capital Management Corp now owns 74,052 shares of the medical technology company’s stock worth $6,572,000 after acquiring an additional 16,562 shares during the period. RMB Capital Management LLC acquired a new position in Medtronic PLC during the first quarter worth $4,576,000. Lazard Asset Management LLC grew its holdings in Medtronic PLC by 1,061.4% during the first quarter. Lazard Asset Management LLC now owns 13,678,772 shares of the medical technology company’s stock worth $1,101,960,000 after acquiring an additional 12,500,992 shares during the period. WealthTrust Arizona LLC grew its holdings in Medtronic PLC by 9.7% during the second quarter. WealthTrust Arizona LLC now owns 4,994 shares of the medical technology company’s stock worth $443,000 after acquiring an additional 441 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Medtronic PLC by 7.3% during the first quarter. Geode Capital Management LLC now owns 13,308,812 shares of the medical technology company’s stock worth $1,070,622,000 after acquiring an additional 906,581 shares during the period. 80.75% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on MDT. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $96.00 price objective on shares of Medtronic PLC in a report on Monday, October 2nd. BidaskClub raised Medtronic PLC from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Jefferies Group LLC reaffirmed a “buy” rating and set a $96.00 price objective on shares of Medtronic PLC in a report on Thursday, September 28th. Zacks Investment Research lowered Medtronic PLC from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, UBS AG reissued an “overweight” rating on shares of Medtronic PLC in a report on Thursday, August 24th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the company. Medtronic PLC has a consensus rating of “Hold” and a consensus price target of $87.88.
In other news, EVP Bryan C. Hanson sold 16,000 shares of Medtronic PLC stock in a transaction on Monday, October 16th. The stock was sold at an average price of $78.03, for a total transaction of $1,248,480.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Omar Ishrak sold 140,407 shares of Medtronic PLC stock in a transaction on Friday, September 15th. The shares were sold at an average price of $81.63, for a total value of $11,461,423.41. Following the transaction, the chief executive officer now owns 668,503 shares in the company, valued at approximately $54,569,899.89. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.
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Medtronic PLC (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 stock has a market capitalization of $110.13 billion, a P/E ratio of 27.36 and a beta of 1.01. The company’s 50-day moving average price is $79.31 and its 200 day moving average price is $83.10.
Medtronic PLC (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.04. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The business had revenue of $7.39 billion for the quarter, compared to the consensus estimate of $7.44 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. Medtronic PLC’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, equities research analysts anticipate 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 of this dividend 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 is 61.95%.
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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