Burke & Herbert Bank & Trust Co. lowered its position in shares of Medtronic PLC (NYSE:MDT) by 30.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,252 shares of the medical technology company’s stock after selling 2,270 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in Medtronic PLC were worth $466,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. RMB Capital Management LLC acquired a new position in Medtronic PLC in the 1st quarter valued at about $4,576,000. Lazard Asset Management LLC increased its position in Medtronic PLC by 1,061.4% in the 1st 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 acquiring an additional 12,500,992 shares during the period. Geode Capital Management LLC increased its position in Medtronic PLC by 7.3% in the 1st quarter. Geode Capital Management LLC now owns 13,308,812 shares of the medical technology company’s stock valued at $1,070,622,000 after acquiring an additional 906,581 shares during the period. Epoch Investment Partners Inc. increased its position in Medtronic PLC by 1,024.0% in the 1st quarter. Epoch Investment Partners Inc. now owns 302,703 shares of the medical technology company’s stock valued at $24,386,000 after acquiring an additional 275,771 shares during the period. Finally, Smith Salley & Associates increased its position in Medtronic PLC by 2.5% in the 1st quarter. Smith Salley & Associates now owns 5,853 shares of the medical technology company’s stock valued at $472,000 after acquiring an additional 141 shares during the period. Institutional investors and hedge funds own 80.62% of the company’s stock.
Shares of Medtronic PLC (MDT) traded up 0.11% during midday trading on Monday, hitting $82.21. The stock had a trading volume of 1,525,238 shares. The company has a market cap of $111.36 billion, a P/E ratio of 27.67 and a beta of 1.03. Medtronic PLC has a one year low of $69.35 and a one year high of $89.72. The firm has a 50 day moving average of $82.18 and a 200-day moving average of $83.65.
Medtronic PLC (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.04. The business had revenue of $7.39 billion during the quarter, compared to analysts’ expectations of $7.44 billion. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. The business’s revenue was up 3.1% on a year-over-year basis. During the same period last year, the firm posted $1.03 earnings per share. On average, analysts forecast that Medtronic PLC will post $4.77 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, September 29th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Thursday, September 28th. Medtronic PLC’s dividend payout ratio (DPR) is presently 61.95%.
In other news, EVP Bryan C. Hanson sold 12,000 shares of the stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $88.57, for a total value of $1,062,840.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard H. Anderson acquired 5,600 shares of the firm’s stock in a transaction dated 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 acquisition, the director now directly owns 71,910 shares of the company’s stock, valued at $6,392,799. The disclosure for this purchase can be found here. Company insiders own 0.31% of the company’s stock.
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Several equities analysts recently issued reports on the company. UBS AG restated a “buy” rating and issued a $95.00 price target (up previously from $94.00) on shares of Medtronic PLC in a research report on Tuesday, May 30th. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $92.00 price target on shares of Medtronic PLC in a research report on Tuesday, August 22nd. Jefferies Group LLC restated a “buy” rating and issued a $103.00 price target on shares of Medtronic PLC in a research report on Thursday, August 3rd. BMO Capital Markets boosted their price target on Medtronic PLC from $87.00 to $94.00 and gave the company an “outperform” rating in a research report on Tuesday, May 30th. Finally, CIBC restated a “buy” rating on shares of Medtronic PLC in a research report on Friday, May 26th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the stock. Medtronic PLC has an average rating of “Hold” and an average target price of $88.78.
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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