Medtronic PLC (MDT) Shares Bought by Veritable L.P.

Veritable L.P. increased its stake in Medtronic PLC (NYSE:MDT) by 3.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 45,991 shares of the medical technology company’s stock after buying an additional 1,666 shares during the quarter. Veritable L.P.’s holdings in Medtronic PLC were worth $4,082,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Hudock Capital Group LLC lifted its holdings in Medtronic PLC by 0.5% during the second quarter. Hudock Capital Group LLC now owns 2,195 shares of the medical technology company’s stock valued at $194,000 after purchasing an additional 11 shares during the last quarter. Bollard Group LLC lifted its holdings in Medtronic PLC by 0.4% during the second quarter. Bollard Group LLC now owns 3,651 shares of the medical technology company’s stock valued at $324,000 after purchasing an additional 14 shares during the last quarter. Triangle Securities Wealth Management lifted its holdings in Medtronic PLC by 0.3% during the second quarter. Triangle Securities Wealth Management now owns 4,396 shares of the medical technology company’s stock valued at $390,000 after purchasing an additional 15 shares during the last quarter. IFC Holdings Incorporated FL lifted its holdings in Medtronic PLC by 0.3% during the second quarter. IFC Holdings Incorporated FL now owns 5,673 shares of the medical technology company’s stock valued at $501,000 after purchasing an additional 17 shares during the last quarter. Finally, North Star Investment Management Corp. lifted its holdings in Medtronic PLC by 1.1% during the second quarter. North Star Investment Management Corp. now owns 1,995 shares of the medical technology company’s stock valued at $177,000 after purchasing an additional 22 shares during the last quarter. 81.37% of the stock is currently owned by institutional investors.

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Several research firms have commented on MDT. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $96.00 price objective on shares of Medtronic PLC in a report on Monday, October 2nd. BidaskClub raised shares of Medtronic PLC from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Jefferies Group LLC reaffirmed a “buy” rating and set a $96.00 price objective on shares of Medtronic PLC in a report on Thursday, September 28th. Needham & Company LLC reiterated a “buy” rating and set a $94.00 price target on shares of Medtronic PLC in a research report on Thursday, November 9th. Finally, Zacks Investment Research cut 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 assigned a hold rating and thirteen have given a buy rating to the company. Medtronic PLC currently has an average rating of “Hold” and a consensus price target of $87.88.

In other news, CEO Omar Ishrak sold 140,407 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 668,503 shares of the company’s stock, valued at $54,569,899.89. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction that occurred 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. 0.31% of the stock is owned by corporate insiders.

Shares of Medtronic PLC (NYSE:MDT) opened at $79.20 on Tuesday. The stock has a market capitalization of $107,459.70, a P/E ratio of 16.92, a price-to-earnings-growth ratio of 2.19 and a beta of 1.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.64 and a quick ratio of 1.40. Medtronic PLC has a 52 week low of $69.35 and a 52 week high of $89.72.

Medtronic PLC (NYSE:MDT) last issued its earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, topping 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%. Medtronic PLC’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.03 earnings per share. equities analysts expect that Medtronic PLC will post 4.66 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 20th. Shareholders of record on Friday, September 29th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Thursday, September 28th. Medtronic PLC’s dividend payout ratio is currently 61.95%.

Medtronic PLC Company 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)

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