Farr Miller & Washington LLC DC Has $26.78 Million Stake in Medtronic PLC (MDT)

Farr Miller & Washington LLC DC reduced its stake in Medtronic PLC (NYSE:MDT) by 0.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 301,765 shares of the medical technology company’s stock after selling 2,146 shares during the quarter. Medtronic PLC comprises about 2.6% of Farr Miller & Washington LLC DC’s portfolio, making the stock its 16th largest holding. Farr Miller & Washington LLC DC’s holdings in Medtronic PLC were worth $26,782,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Boyer & Corporon Wealth Management LLC raised its position in shares of Medtronic PLC by 2.2% in the 2nd quarter. Boyer & Corporon Wealth Management LLC now owns 44,126 shares of the medical technology company’s stock valued at $3,916,000 after purchasing an additional 942 shares during the last quarter. Synovus Financial Corp raised its position in shares of Medtronic PLC by 16.9% in the 2nd quarter. Synovus Financial Corp now owns 32,422 shares of the medical technology company’s stock valued at $2,876,000 after purchasing an additional 4,679 shares during the last quarter. Flagship Harbor Advisors LLC raised its position in shares of Medtronic PLC by 1.0% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 4,724 shares of the medical technology company’s stock valued at $410,000 after purchasing an additional 47 shares during the last quarter. Chilton Investment Co. LLC raised its position in shares of Medtronic PLC by 6.1% in the 2nd quarter. Chilton Investment Co. LLC now owns 26,842 shares of the medical technology company’s stock valued at $2,382,000 after purchasing an additional 1,538 shares during the last quarter. Finally, Intact Investment Management Inc. raised its position in shares of Medtronic PLC by 55.1% in the 2nd quarter. Intact Investment Management Inc. now owns 12,099 shares of the medical technology company’s stock valued at $1,074,000 after purchasing an additional 4,300 shares during the last quarter. 80.91% of the stock is owned by hedge funds and other institutional investors.

Shares of Medtronic PLC (NYSE MDT) traded down $1.48 during mid-day trading on Friday, reaching $79.33. The company’s stock had a trading volume of 6,416,300 shares, compared to its average volume of 4,903,786. The company has a quick ratio of 1.40, a current ratio of 1.64 and a debt-to-equity ratio of 0.51. The stock has a market cap of $109,464.49, a price-to-earnings ratio of 17.23, a P/E/G ratio of 2.24 and a beta of 1.00. Medtronic PLC has a 12 month low of $69.35 and a 12 month high of $89.72.

Medtronic PLC (NYSE:MDT) last announced its quarterly earnings data 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 company had revenue of $7.39 billion for the quarter, compared to analyst estimates of $7.44 billion. During the same quarter last year, the firm posted $1.03 EPS. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. equities research analysts predict that Medtronic PLC will post 4.64 earnings per share for the current year.

The business 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 annualized dividend and a dividend yield of 2.32%. Medtronic PLC’s dividend payout ratio is presently 61.95%.

In other news, CEO Omar Ishrak sold 140,407 shares of Medtronic PLC stock in a transaction on Friday, September 15th. The stock was sold at an average price of $81.63, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $1,248,480.00. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

WARNING: “Farr Miller & Washington LLC DC Has $26.78 Million Stake in Medtronic PLC (MDT)” was first reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this news story on another publication, it was illegally copied and republished in violation of U.S. and international trademark & copyright laws. The original version of this news story can be read at https://www.dispatchtribunal.com/2017/11/11/farr-miller-washington-llc-dc-has-26-78-million-position-in-medtronic-plc-mdt.html.

Several equities analysts recently weighed in on MDT shares. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $96.00 price target on shares of Medtronic PLC in a report on Monday, October 2nd. BidaskClub upgraded shares of Medtronic PLC from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Cowen and Company reiterated a “buy” rating and issued a $95.00 price target on shares of Medtronic PLC in a report on Friday, November 3rd. Jefferies Group LLC reiterated a “buy” rating and issued a $96.00 price target on shares of Medtronic PLC in a report on Thursday, September 28th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $94.00 price target on shares of Medtronic PLC in a report on Thursday. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $87.88.

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.

Institutional Ownership by Quarter for Medtronic PLC (NYSE:MDT)

Receive News & Ratings for Medtronic PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic PLC and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply