Livingston Group Asset Management CO operating as Southport Capital Management raised its stake in shares of Medtronic PLC (NYSE:MDT) by 8.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,103 shares of the medical technology company’s stock after buying an additional 603 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Medtronic PLC were worth $719,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in MDT. Summit Global Investments bought a new position in shares of Medtronic PLC during the fourth quarter valued at approximately $421,000. Shepherd Financial Partners LLC bought a new position in shares of Medtronic PLC during the fourth quarter valued at approximately $272,000. ARS Investment Partners LLC bought a new position in shares of Medtronic PLC during the fourth quarter valued at approximately $6,133,000. Pinnacle Financial Partners Inc. boosted its position in shares of Medtronic PLC by 1.1% in the fourth quarter. Pinnacle Financial Partners Inc. now owns 33,439 shares of the medical technology company’s stock valued at $2,382,000 after buying an additional 356 shares during the last quarter. Finally, Lebenthal Asset Management LLC boosted its position in shares of Medtronic PLC by 51.2% in the fourth quarter. Lebenthal Asset Management LLC now owns 25,777 shares of the medical technology company’s stock valued at $1,836,000 after buying an additional 8,730 shares during the last quarter. Institutional investors own 83.54% of the company’s stock.
Medtronic PLC (NYSE:MDT) traded down 0.31% on Friday, hitting $83.41. 4,440,985 shares of the stock traded hands. The stock has a market cap of $113.36 billion, a price-to-earnings ratio of 28.86 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 firm’s 50 day moving average is $85.48 and its 200 day moving average is $83.22.
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, topping analysts’ consensus estimates of $1.31 by $0.02. Medtronic PLC had a net margin of 13.56% and a return on equity of 12.72%. The business had revenue of $7.92 billion for the quarter, compared to analyst estimates of $7.86 billion. During the same period last year, the firm earned $1.27 earnings per share. Medtronic PLC’s revenue for the quarter was up 4.6% compared to the same quarter last year. Equities analysts anticipate that Medtronic PLC will post $4.80 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 given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.21%. This is a positive change from Medtronic PLC’s previous quarterly dividend of $0.43. The ex-dividend date was Wednesday, July 5th. Medtronic PLC’s dividend payout ratio (DPR) is currently 63.67%.
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MDT has been the topic of several research analyst reports. Northland Securities reaffirmed a “hold” rating and set a $80.00 price target on shares of Medtronic PLC in a research report on Thursday, April 20th. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Medtronic PLC in a report on Tuesday, May 16th. They issued a “neutral” rating and a $87.00 target price on the stock. Zacks Investment Research cut Medtronic PLC from a “hold” rating to a “sell” rating in a report on Tuesday, May 23rd. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $93.00 price target (up previously from $87.00) on shares of Medtronic PLC in a report on Thursday, May 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $95.00 price target (up previously from $91.00) on shares of Medtronic PLC in a report on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the stock. Medtronic PLC presently has a consensus rating of “Hold” and a consensus target price of $89.84.
In other news, Director Richard H. Anderson bought 5,600 shares of the firm’s stock in a transaction on Wednesday, June 21st. The shares were purchased at an average cost of $88.90 per share, with a total value of $497,840.00. Following the acquisition, the director now directly owns 71,910 shares in the company, valued at $6,392,799. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Bryan C. Hanson sold 12,000 shares of the firm’s stock in a transaction dated 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 company 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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