Marble Harbor Investment Counsel LLC trimmed its position in Medtronic PLC (NYSE:MDT) by 9.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,108 shares of the medical technology company’s stock after selling 1,700 shares during the period. Marble Harbor Investment Counsel LLC’s holdings in Medtronic PLC were worth $1,430,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Parkside Financial Bank & Trust grew its position in Medtronic PLC by 22.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock valued at $102,000 after buying an additional 210 shares during the last quarter. BDO Wealth Advisors LLC purchased a new position in Medtronic PLC in the 2nd quarter valued at $103,000. Motco grew its position in Medtronic PLC by 8.7% in the 2nd quarter. Motco now owns 1,239 shares of the medical technology company’s stock valued at $110,000 after buying an additional 99 shares during the last quarter. Farmers National Bank purchased a new position in Medtronic PLC in the 1st quarter valued at $121,000. Finally, Norway Savings Bank grew its position in Medtronic PLC by 2.7% in the 2nd quarter. Norway Savings Bank now owns 1,427 shares of the medical technology company’s stock valued at $127,000 after buying an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 80.60% of the company’s stock.
A number of research firms recently weighed in on MDT. William Blair reiterated an “outperform” rating on shares of Medtronic PLC in a research report on Thursday, July 6th. Wells Fargo & Company reiterated an “outperform” rating on shares of Medtronic PLC in a research report on Wednesday, July 12th. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Medtronic PLC in a research report on Tuesday, July 18th. BidaskClub lowered shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Finally, Zacks Investment Research lowered shares of Medtronic PLC from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $87.88.
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In other news, CEO Omar Ishrak sold 140,407 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $81.63, for a total value of $11,461,423.41. Following the completion of the sale, the chief executive officer now owns 668,503 shares in the company, valued at $54,569,899.89. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction on 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. Corporate insiders own 0.31% of the company’s stock.
Medtronic PLC (NYSE MDT) opened at 78.34 on Friday. The stock’s 50 day moving average price is $79.37 and its 200 day moving average price is $83.11. The firm has a market cap of $106.12 billion, a P/E ratio of 26.37 and a beta of 1.01. Medtronic PLC has a 1-year low of $69.35 and a 1-year 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 the Thomson Reuters’ 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 earnings per share. Equities research analysts predict that Medtronic PLC will post $4.63 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 20th. Stockholders of record on Friday, September 29th were issued a $0.46 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.84 annualized dividend and a dividend yield of 2.35%. Medtronic PLC’s dividend payout ratio (DPR) is 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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