Schmidt P J Investment Management Inc. boosted its position in shares of Medtronic PLC (NYSE:MDT) by 3.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,594 shares of the medical technology company’s stock after buying an additional 652 shares during the period. Schmidt P J Investment Management Inc.’s holdings in Medtronic PLC were worth $1,916,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Medtronic PLC by 2,513.4% in the first quarter. BlackRock Inc. now owns 87,035,376 shares of the medical technology company’s stock valued at $7,011,571,000 after buying an additional 83,705,052 shares during the period. Lazard Asset Management LLC increased its stake in shares of Medtronic PLC by 1,061.4% in the first quarter. Lazard Asset Management LLC now owns 13,678,772 shares of the medical technology company’s stock valued at $1,101,960,000 after buying an additional 12,500,992 shares during the period. Vanguard Group Inc. increased its stake in shares of Medtronic PLC by 4.5% in the first quarter. Vanguard Group Inc. now owns 102,321,656 shares of the medical technology company’s stock valued at $8,243,034,000 after buying an additional 4,412,536 shares during the period. Wells Fargo & Company MN increased its stake in shares of 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 during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Medtronic PLC by 3.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 58,646,070 shares of the medical technology company’s stock valued at $4,724,526,000 after buying an additional 1,729,715 shares during the period. Institutional investors and hedge funds own 83.36% of the company’s stock.
Medtronic PLC (MDT) traded down 0.7071% during trading on Thursday, reaching $83.3564. 1,431,356 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $86.49 and its 200-day moving average price is $82.81. The firm has a market cap of $113.28 billion, a price-to-earnings ratio of 28.8430 and a beta of 1.02. Medtronic PLC has a 12 month low of $69.35 and a 12 month high of $89.72.
Medtronic PLC (NYSE:MDT) last released its quarterly earnings results on Thursday, May 25th. The medical technology company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.02. The business had revenue of $7.92 billion during the quarter, compared to analyst estimates 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 period in the prior year, the firm posted $1.27 EPS. On average, equities research analysts anticipate that Medtronic PLC will post $4.81 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend was Wednesday, July 5th. This is an increase from Medtronic PLC’s previous quarterly dividend of $0.43. Medtronic PLC’s dividend payout ratio is 63.67%.
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Several brokerages have commented on MDT. UBS AG restated a “buy” rating and set a $95.00 target price (up from $94.00) on shares of Medtronic PLC in a report on Tuesday, May 30th. Jefferies Group LLC restated a “buy” rating and set a $103.00 target price on shares of Medtronic PLC in a report on Thursday, August 3rd. BidaskClub downgraded shares of Medtronic PLC from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Zacks Investment Research downgraded shares of Medtronic PLC from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, Deutsche Bank AG set a $96.00 target price on shares of Medtronic PLC and gave the stock a “buy” rating in a report on Monday, July 31st. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $89.84.
In other Medtronic PLC news, EVP Bryan C. Hanson sold 12,000 shares of the company’s stock in a transaction 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 Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard H. Anderson purchased 5,600 shares of the business’s stock in a transaction dated 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 purchase, the director now directly owns 71,910 shares in the company, valued at approximately $6,392,799. The disclosure for this purchase can be found here. 0.25% of the stock is owned by corporate insiders.
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.
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