Atlantic Trust Group LLC Acquires 1,795 Shares of Medtronic PLC (NYSE:MDT)

Atlantic Trust Group LLC raised its position in shares of Medtronic PLC (NYSE:MDT) by 0.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,798,308 shares of the medical technology company’s stock after buying an additional 1,795 shares during the period. Atlantic Trust Group LLC owned approximately 0.13% of Medtronic PLC worth $144,870,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Jackson Grant Investment Advisers Inc. increased its position in shares of Medtronic PLC by 0.3% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 2,920 shares of the medical technology company’s stock worth $235,000 after buying an additional 9 shares during the last quarter. Hudock Capital Group LLC increased its position in shares of 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 worth $175,000 after buying an additional 12 shares during the last quarter. Delta Asset Management LLC TN increased its position in shares of Medtronic PLC by 0.4% in the first quarter. Delta Asset Management LLC TN now owns 3,713 shares of the medical technology company’s stock worth $299,000 after buying an additional 13 shares during the last quarter. Bollard Group LLC increased its position in shares of Medtronic PLC by 0.4% in the first quarter. Bollard Group LLC now owns 3,637 shares of the medical technology company’s stock worth $293,000 after buying an additional 14 shares during the last quarter. Finally, Tarbox Group Inc. increased its position in shares of Medtronic PLC by 0.4% in the first quarter. Tarbox Group Inc. now owns 5,180 shares of the medical technology company’s stock worth $417,000 after buying an additional 20 shares during the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Medtronic PLC (MDT) opened at 83.68 on Friday. The stock has a market cap of $113.72 billion, a PE ratio of 28.96 and a beta of 1.02. Medtronic PLC has a 52-week low of $69.35 and a 52-week high of $89.72. The company’s 50 day moving average price is $87.24 and its 200 day moving average price is $82.55.

Medtronic PLC (NYSE:MDT) last released its quarterly earnings results on Thursday, May 25th. The medical technology company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 12.72% and a net margin of 13.56%. Medtronic PLC’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.27 EPS. On average, analysts anticipate that Medtronic PLC will post $4.81 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Friday, July 7th were issued a $0.46 dividend. This is a boost from Medtronic PLC’s previous quarterly dividend of $0.43. The ex-dividend date was Wednesday, July 5th. This represents a $1.84 dividend on an annualized basis and a yield of 2.20%. Medtronic PLC’s dividend payout ratio is presently 63.67%.

A number of brokerages have recently issued reports on MDT. UBS AG reaffirmed a “buy” rating and set a $95.00 price target (up from $94.00) on shares of Medtronic PLC in a report on Tuesday, May 30th. Jefferies Group LLC reaffirmed a “buy” rating and set a $103.00 price target on shares of Medtronic PLC in a report on Thursday. CIBC reaffirmed a “buy” rating on shares of Medtronic PLC in a report on Friday, May 26th. Barclays PLC reaffirmed an “overweight” rating and set a $94.00 price target (up from $92.00) on shares of Medtronic PLC in a report on Sunday, May 28th. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $95.00 price target (up from $86.00) on shares of Medtronic PLC in a report on Sunday, May 28th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $89.84.

In other Medtronic PLC news, EVP Bryan C. Hanson sold 12,000 shares of the business’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 transaction of $1,062,840.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard H. Anderson acquired 5,600 shares of the business’s stock in a transaction on Wednesday, June 21st. The shares were purchased 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 approximately $6,392,799. The disclosure for this purchase can be found here. Corporate insiders own 0.25% of the company’s stock.

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.