Medtronic PLC (NYSE:MDT) CEO Omar Ishrak sold 140,407 shares of Medtronic PLC stock in a transaction on Friday, September 15th. The shares were sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the completion of the sale, the chief executive officer now owns 668,503 shares in the company, valued at $54,569,899.89. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of Medtronic PLC (NYSE:MDT) opened at 81.19 on Wednesday. The stock has a market capitalization of $109.98 billion, a PE ratio of 27.33 and a beta of 1.03. Medtronic PLC has a 52-week low of $69.35 and a 52-week high of $89.72. The firm has a 50-day moving average of $82.04 and a 200 day moving average of $83.67.
Medtronic PLC (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.04. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. The firm had revenue of $7.39 billion during the quarter, compared to analysts’ expectations of $7.44 billion. During the same period last year, the business earned $1.03 earnings per share. Medtronic PLC’s revenue was up 3.1% compared to the same quarter last year. Equities research analysts forecast that Medtronic PLC will post $4.77 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, September 29th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Thursday, September 28th. Medtronic PLC’s dividend payout ratio is presently 61.95%.
Institutional investors and hedge funds have recently made changes to their positions in the business. Parkside Financial Bank & Trust increased its position in shares of Medtronic PLC by 22.4% during the second quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock valued at $102,000 after acquiring an additional 210 shares during the last quarter. BDO Wealth Advisors LLC acquired a new stake in shares of Medtronic PLC during the second quarter valued at about $103,000. Motco increased its position in shares of Medtronic PLC by 8.7% during the second quarter. Motco now owns 1,239 shares of the medical technology company’s stock valued at $110,000 after acquiring an additional 99 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of Medtronic PLC by 21.5% during the second quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock valued at $114,000 after acquiring an additional 290 shares during the last quarter. Finally, Israel Discount Bank of New York acquired a new stake in shares of Medtronic PLC during the first quarter valued at about $117,000. Institutional investors and hedge funds own 80.62% of the company’s stock.
MDT has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Medtronic PLC from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. Evercore ISI reiterated an “outperform” rating and issued a $91.00 price target (up from $88.50) on shares of Medtronic PLC in a report on Sunday, May 28th. BMO Capital Markets lifted their price target on shares of Medtronic PLC from $87.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday, May 30th. Morgan Stanley lifted their price target on shares of Medtronic PLC from $84.00 to $86.00 and gave the company an “equal weight” rating in a report on Tuesday, May 30th. Finally, BidaskClub downgraded shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target 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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