KBC Group NV raised its stake in Medtronic PLC (NYSE:MDT) by 10.9% during the first quarter, Holdings Channel reports. The firm owned 1,085,269 shares of the medical technology company’s stock after buying an additional 106,706 shares during the period. Medtronic PLC comprises about 0.8% of KBC Group NV’s holdings, making the stock its 16th largest position. KBC Group NV’s holdings in Medtronic PLC were worth $87,429,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of MDT. Baystate Wealth Management LLC raised its position in Medtronic PLC by 40.9% in the first quarter. Baystate Wealth Management LLC now owns 1,959 shares of the medical technology company’s stock valued at $157,000 after buying an additional 569 shares in the last quarter. North Star Investment Management Corp. raised its position in Medtronic PLC by 4.4% in the first quarter. North Star Investment Management Corp. now owns 1,973 shares of the medical technology company’s stock valued at $159,000 after buying an additional 83 shares in the last quarter. LeJeune Puetz Investment Counsel LLC purchased a new position in Medtronic PLC during the fourth quarter valued at $167,000. Liberty Capital Management Inc. raised its position in Medtronic PLC by 45.6% in the first quarter. Liberty Capital Management Inc. now owns 2,111 shares of the medical technology company’s stock valued at $170,000 after buying an additional 661 shares in the last quarter. Finally, Hudock Capital Group LLC raised its position in Medtronic PLC by 0.6% in the first quarter. Hudock Capital Group LLC now owns 2,184 shares of the medical technology company’s stock valued at $175,000 after buying an additional 12 shares in the last quarter. 83.11% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Medtronic PLC (MDT) opened at 85.17 on Friday. Medtronic PLC has a one year low of $69.35 and a one year high of $89.72. The stock’s 50 day moving average is $87.57 and its 200-day moving average is $81.81. The company has a market cap of $115.75 billion, a P/E ratio of 29.47 and a beta of 1.04.
Medtronic PLC (NYSE:MDT) last issued its quarterly earnings data on Thursday, May 25th. The medical technology company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.31 by $0.02. The company had revenue of $7.92 billion during the quarter, compared to analysts’ expectations of $7.86 billion. Medtronic PLC had a net margin of 13.56% and a return on equity of 12.72%. Medtronic PLC’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.27 earnings per share. Equities research analysts forecast that Medtronic PLC will post $4.95 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Friday, July 7th will be paid a dividend of $0.46 per share. The ex-dividend date is Wednesday, July 5th. This represents a $1.84 annualized dividend and a yield of 2.16%. This is a boost from Medtronic PLC’s previous quarterly dividend of $0.43. Medtronic PLC’s payout ratio is currently 63.67%.
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MDT has been the topic of several recent analyst reports. Morgan Stanley boosted their price objective on shares of Medtronic PLC from $84.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 30th. Evercore ISI boosted their price objective on shares of Medtronic PLC from $88.00 to $88.50 and gave the stock an “outperform” rating in a research note on Wednesday, April 19th. Needham & Company LLC restated a “buy” rating and set a $95.00 price objective (up from $91.00) on shares of Medtronic PLC in a research note on Thursday, May 25th. Royal Bank Of Canada restated a “buy” rating and set a $85.00 price objective on shares of Medtronic PLC in a research note on Tuesday, April 18th. Finally, Northland Securities restated a “hold” rating and set a $80.00 price objective on shares of Medtronic PLC in a research note on Thursday, April 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $89.16.
In other news, Director Richard H. Anderson acquired 5,600 shares of Medtronic PLC stock in a transaction that occurred on Wednesday, June 21st. The stock was bought at an average price 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bryan C. Hanson sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $88.57, for a total transaction of $1,062,840.00. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.
About Medtronic PLC
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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