Beese Fulmer Investment Management Inc. trimmed its position in Medtronic PLC (NYSE:MDT) by 0.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,908 shares of the medical technology company’s stock after selling 161 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in Medtronic PLC were worth $5,051,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Farmers National Bank purchased a new stake in Medtronic PLC in the 1st quarter worth approximately $121,000. Israel Discount Bank of New York purchased a new stake in Medtronic PLC in the 1st quarter worth approximately $117,000. Birch Hill Investment Advisors LLC purchased a new stake in Medtronic PLC in the 1st quarter worth approximately $120,000. Proficio Capital Partners LLC increased its holdings in Medtronic PLC by 33.3% in the 1st quarter. Proficio Capital Partners LLC now owns 1,811 shares of the medical technology company’s stock worth $153,000 after acquiring an additional 452 shares in the last quarter. Finally, Harbour Capital Advisors LLC purchased a new stake in Medtronic PLC in the 1st quarter worth approximately $154,000. 80.62% of the stock is owned by institutional investors.
MDT has been the subject of several analyst reports. Evercore ISI reissued an “outperform” rating and issued a $91.00 target price (up from $88.50) on shares of Medtronic PLC in a report on Sunday, May 28th. Stifel Nicolaus reissued a “hold” rating and issued a $91.00 target price (up from $84.00) on shares of Medtronic PLC in a report on Sunday, May 28th. Cowen and Company reissued an “outperform” rating and issued a $95.00 target price (up from $86.00) on shares of Medtronic PLC in a report on Sunday, May 28th. Barclays PLC reissued an “overweight” rating and issued a $94.00 target price (up from $92.00) on shares of Medtronic PLC in a report on Sunday, May 28th. Finally, Morgan Stanley increased their target price on shares of Medtronic PLC from $84.00 to $86.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 30th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company. Medtronic PLC presently has a consensus rating of “Hold” and a consensus target price of $88.78.
Medtronic PLC (NYSE:MDT) traded up 0.21% during mid-day trading on Friday, reaching $79.70. The company’s stock had a trading volume of 4,593,164 shares. The firm’s 50 day moving average price is $82.04 and its 200 day moving average price is $83.67. The stock has a market cap of $107.96 billion, a price-to-earnings ratio of 26.83 and a beta of 1.03. 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 results on Tuesday, August 22nd. The medical technology company reported $1.12 EPS 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 analyst estimates of $7.44 billion. During the same quarter in the prior year, the company posted $1.03 EPS. The company’s quarterly revenue was up 3.1% on a year-over-year basis. On average, equities analysts predict that Medtronic PLC will post $4.77 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, September 29th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Thursday, September 28th. Medtronic PLC’s dividend payout ratio (DPR) is presently 61.95%.
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In other news, EVP Bryan C. Hanson sold 12,000 shares of the company’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $88.57, for a total value of $1,062,840.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Omar Ishrak sold 140,407 shares of the company’s 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 completion of the transaction, the chief executive officer now directly owns 668,503 shares in the company, valued at approximately $54,569,899.89. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.
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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