Indiana Trust & Investment Management CO held its position in Medtronic PLC (NYSE:MDT) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,775 shares of the medical technology company’s stock at the end of the 2nd quarter. Indiana Trust & Investment Management CO’s holdings in Medtronic PLC were worth $601,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of MDT. Waldron LP purchased a new stake in shares of Medtronic PLC in the first quarter valued at approximately $512,000. Acadian Asset Management LLC purchased a new stake in shares of Medtronic PLC in the first quarter valued at approximately $694,000. Mycio Wealth Partners LLC boosted its stake in shares of Medtronic PLC by 4.8% in the first quarter. Mycio Wealth Partners LLC now owns 3,350 shares of the medical technology company’s stock valued at $270,000 after buying an additional 153 shares in the last quarter. Cubic Asset Management LLC boosted its stake in shares of Medtronic PLC by 2.8% in the first quarter. Cubic Asset Management LLC now owns 58,820 shares of the medical technology company’s stock valued at $4,739,000 after buying an additional 1,600 shares in the last quarter. Finally, Dubuque Bank & Trust Co. boosted its stake in shares of Medtronic PLC by 15.5% in the first quarter. Dubuque Bank & Trust Co. now owns 112,350 shares of the medical technology company’s stock valued at $9,051,000 after buying an additional 15,088 shares in the last quarter. Hedge funds and other institutional investors own 80.52% of the company’s stock.
Medtronic PLC (NYSE MDT) traded up 2.60% during trading on Friday, reaching $82.03. The company had a trading volume of 7,881,013 shares. The company has a 50-day moving average price of $82.66 and a 200 day moving average price of $83.60. Medtronic PLC has a 52-week low of $69.35 and a 52-week high of $89.72. The stock has a market cap of $111.72 billion, a PE ratio of 27.61 and a beta of 1.03.
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, topping the consensus estimate of $1.08 by $0.04. The business had revenue of $7.39 billion during the quarter, compared to analyst estimates of $7.44 billion. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The company’s revenue was up 3.1% compared to the same quarter last year. During the same period last year, the company posted $1.03 EPS. On average, analysts anticipate that Medtronic PLC will post $4.76 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Thursday, September 28th. Medtronic PLC’s dividend payout ratio is presently 61.95%.
In other news, EVP Bryan C. Hanson sold 12,000 shares of the firm’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $88.57, for a total transaction of $1,062,840.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Richard H. Anderson acquired 5,600 shares of Medtronic PLC stock in a transaction dated Wednesday, June 21st. The shares were bought at an average cost of $88.90 per share, with a total value of $497,840.00. Following the completion of the purchase, the director now owns 71,910 shares in the company, valued at $6,392,799. The disclosure for this purchase can be found here. Company insiders own 0.31% of the company’s stock.
MDT has been the topic of a number of analyst reports. Goldman Sachs Group, Inc. (The) initiated coverage on Medtronic PLC in a research note on Tuesday, May 16th. They issued a “neutral” rating and a $87.00 price target on the stock. Zacks Investment Research downgraded Medtronic PLC from a “hold” rating to a “sell” rating in a research note on Tuesday, May 23rd. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $93.00 price target (up from $87.00) on shares of Medtronic PLC in a research note on Thursday, May 25th. Needham & Company LLC restated a “buy” rating and issued a $95.00 price target (up from $91.00) on shares of Medtronic PLC in a research note on Thursday, May 25th. Finally, CIBC restated a “buy” rating on shares of Medtronic PLC in a research note on Friday, May 26th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company. Medtronic PLC presently has an average rating of “Hold” and a consensus target price of $88.78.
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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