Wayne Hummer Investments L.L.C. boosted its stake in shares of Medtronic PLC (NYSE:MDT) by 31.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,214 shares of the medical technology company’s stock after buying an additional 1,010 shares during the period. Wayne Hummer Investments L.L.C.’s holdings in Medtronic PLC were worth $339,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in MDT. Dodge & Cox purchased a new position in Medtronic PLC during the fourth quarter valued at $761,351,000. Norges Bank purchased a new position in Medtronic PLC during the fourth quarter valued at $757,324,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in Medtronic PLC during the fourth quarter valued at $202,568,000. Wells Fargo & Company MN increased its position in Medtronic PLC by 18.9% in the first quarter. Wells Fargo & Company MN now owns 11,932,572 shares of the medical technology company’s stock valued at $961,288,000 after buying an additional 1,895,386 shares in the last quarter. Finally, Swiss National Bank increased its position in Medtronic PLC by 24.8% in the first quarter. Swiss National Bank now owns 5,459,663 shares of the medical technology company’s stock valued at $439,830,000 after buying an additional 1,085,400 shares in the last quarter. 83.17% of the stock is owned by institutional investors.
Medtronic PLC (NYSE:MDT) opened at 85.93 on Wednesday. Medtronic PLC has a 12-month low of $69.35 and a 12-month high of $89.72. The stock has a 50 day moving average price of $87.52 and a 200-day moving average price of $82.10. The firm has a market cap of $116.78 billion, a price-to-earnings ratio of 29.73 and a beta of 1.04.
Medtronic PLC (NYSE:MDT) last announced its quarterly earnings results on Thursday, May 25th. The medical technology company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.02. The business had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.86 billion. Medtronic PLC had a return on equity of 12.72% and a net margin of 13.56%. The business’s revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the business posted $1.27 EPS. Equities analysts forecast that Medtronic PLC will post $4.95 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Friday, July 7th will be issued a $0.46 dividend. This is an increase from Medtronic PLC’s previous quarterly dividend of $0.43. The ex-dividend date is Wednesday, July 5th. This represents a $1.84 annualized dividend and a dividend yield of 2.14%. Medtronic PLC’s dividend payout ratio (DPR) is 63.67%.
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Several equities analysts have weighed in on MDT shares. Evercore ISI lifted their target price on Medtronic PLC from $88.00 to $88.50 and gave the company an “outperform” rating in a research report on Wednesday, April 19th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $85.00 target price on shares of Medtronic PLC in a research report on Tuesday, April 18th. Goldman Sachs Group, Inc. (The) started coverage on Medtronic PLC in a research report on Tuesday, May 16th. They issued a “neutral” rating and a $87.00 target price for the company. Zacks Investment Research downgraded Medtronic PLC from a “hold” rating to a “sell” rating in a research report on Tuesday, May 23rd. Finally, BMO Capital Markets lifted their price objective on Medtronic PLC from $87.00 to $94.00 and gave the company an “outperform” rating in a research note on Tuesday, May 30th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $89.16.
In related news, EVP Bryan C. Hanson sold 12,000 shares of the firm’s stock in a transaction that occurred 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 filing with the SEC, which is accessible through the SEC website. Also, Director Richard H. Anderson purchased 5,600 shares of the business’s stock in a transaction that occurred on Wednesday, June 21st. The stock was bought at an average cost of $88.90 per share, for a total transaction of $497,840.00. Following the acquisition, the director now owns 71,910 shares in the company, valued at approximately $6,392,799. The disclosure for this purchase can be found here. Company insiders own 0.25% of the company’s stock.
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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