Capital International Investors reduced its stake in shares of Medtronic PLC (NYSE:MDT) by 4.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,286,646 shares of the medical technology company’s stock after selling 317,062 shares during the quarter. Capital International Investors owned 0.54% of Medtronic PLC worth $646,690,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. AHL Partners LLP increased its stake in shares of Medtronic PLC by 5.0% in the second quarter. AHL Partners LLP now owns 187,778 shares of the medical technology company’s stock valued at $16,665,000 after buying an additional 8,943 shares in the last quarter. Sectoral Asset Management Inc acquired a new stake in shares of Medtronic PLC in the second quarter valued at $35,354,000. Zurich Insurance Group Ltd FI acquired a new stake in shares of Medtronic PLC in the second quarter valued at $22,508,000. Salem Investment Counselors Inc. increased its stake in shares of Medtronic PLC by 6.2% in the second quarter. Salem Investment Counselors Inc. now owns 2,114 shares of the medical technology company’s stock valued at $188,000 after buying an additional 123 shares in the last quarter. Finally, Miles Capital Inc. increased its stake in shares of Medtronic PLC by 3.4% in the second quarter. Miles Capital Inc. now owns 2,581 shares of the medical technology company’s stock valued at $229,000 after buying an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 81.37% of the company’s stock.
MDT has been the subject of a number of research reports. Jefferies Group LLC lowered their target price on Medtronic PLC from $103.00 to $96.00 and set a “buy” rating for the company in a research note on Wednesday, August 23rd. Deutsche Bank AG set a $96.00 target price on Medtronic PLC and gave the company a “buy” rating in a research note on Monday, July 31st. BidaskClub lowered Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Cowen and Company set a $95.00 target price on Medtronic PLC and gave the company a “buy” rating in a research note on Tuesday, August 22nd. Finally, Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $92.00 target price on shares of Medtronic PLC in a research note on Tuesday, August 22nd. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $87.88.
In other news, CEO Omar Ishrak sold 140,407 shares of Medtronic PLC stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Bryan C. Hanson sold 16,000 shares of Medtronic PLC stock in a transaction dated Monday, October 16th. The shares were 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. Insiders have sold a total of 172,407 shares of company stock worth $13,974,223 in the last quarter. 0.31% of the stock is currently owned by company insiders.
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Medtronic PLC (NYSE MDT) opened at $79.49 on Friday. The company has a current ratio of 1.64, a quick ratio of 1.40 and a debt-to-equity ratio of 0.51. Medtronic PLC has a 1-year low of $69.35 and a 1-year high of $89.72. The stock has a market capitalization of $107,676.43, a PE ratio of 16.95, a price-to-earnings-growth ratio of 2.17 and a beta of 1.00.
Medtronic PLC (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 analysts’ expectations of $7.44 billion. During the same quarter in the previous year, the business posted $1.03 EPS. Medtronic PLC’s revenue for the quarter was up 3.1% on a year-over-year basis. sell-side analysts expect that Medtronic PLC will post 4.7 EPS for the current year.
The firm also recently disclosed 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. This represents a $1.84 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend was Thursday, September 28th. Medtronic PLC’s dividend payout ratio (DPR) is presently 61.95%.
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.
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