Medtronic PLC (MDT) Shares Bought by Montag & Caldwell LLC
Montag & Caldwell LLC raised its stake in shares of Medtronic PLC (NYSE:MDT) by 16.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,318,700 shares of the medical technology company’s stock after buying an additional 324,802 shares during the period. Medtronic PLC makes up 4.1% of Montag & Caldwell LLC’s portfolio, making the stock its 7th largest position. Montag & Caldwell LLC owned 0.17% of Medtronic PLC worth $201,194,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Trillium Asset Management LLC increased its stake in Medtronic PLC by 1.4% in the second quarter. Trillium Asset Management LLC now owns 206,224 shares of the medical technology company’s stock valued at $17,894,000 after buying an additional 2,747 shares during the period. Huntington National Bank increased its position in shares of Medtronic PLC by 10.9% in the second quarter. Huntington National Bank now owns 227,847 shares of the medical technology company’s stock worth $19,769,000 after buying an additional 22,309 shares during the last quarter. Standard Life Investments LTD increased its position in shares of Medtronic PLC by 4,597.8% in the second quarter. Standard Life Investments LTD now owns 2,419,371 shares of the medical technology company’s stock worth $209,954,000 after buying an additional 2,367,871 shares during the last quarter. Park Avenue Securities LLC purchased a new position in shares of Medtronic PLC during the second quarter worth approximately $241,000. Finally, First National Trust Co. increased its position in shares of Medtronic PLC by 6.6% in the second quarter. First National Trust Co. now owns 27,657 shares of the medical technology company’s stock worth $2,400,000 after buying an additional 1,703 shares during the last quarter. Hedge funds and other institutional investors own 83.11% of the company’s stock.
Medtronic PLC (NYSE:MDT) traded up 0.01% on Friday, reaching $85.96. 3,182,362 shares of the company traded hands. The stock has a market capitalization of $118.79 billion, a price-to-earnings ratio of 33.45 and a beta of 0.88. Medtronic PLC has a 52-week low of $71.03 and a 52-week high of $89.27. The firm has a 50 day moving average price of $86.45 and a 200 day moving average price of $83.62.
Medtronic PLC (NYSE:MDT) last posted its quarterly earnings data on Thursday, August 25th. The medical technology company reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.02. The firm had revenue of $7.20 billion for the quarter, compared to the consensus estimate of $7.17 billion. Medtronic PLC had a return on equity of 12.06% and a net margin of 12.70%. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.02 EPS. Equities research analysts predict that Medtronic PLC will post $4.66 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 21st. Shareholders of record on Thursday, September 29th will be issued a dividend of $0.43 per share. The ex-dividend date is Tuesday, September 27th. This represents a $1.72 annualized dividend and a yield of 2.00%. Medtronic PLC’s payout ratio is presently 66.93%.
MDT has been the subject of a number of analyst reports. SunTrust Banks Inc. upped their price objective on shares of Medtronic PLC from $93.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, June 13th. Evercore ISI restated a “buy” rating and set a $86.50 price objective on shares of Medtronic PLC in a research report on Monday, June 27th. Zacks Investment Research upgraded shares of Medtronic PLC from a “hold” rating to a “buy” rating and set a $97.00 price objective for the company in a research report on Tuesday, August 9th. Needham & Company LLC restated a “buy” rating on shares of Medtronic PLC in a research report on Monday, June 27th. Finally, Citigroup Inc. initiated coverage on shares of Medtronic PLC in a research report on Tuesday, August 23rd. They set a “buy” rating and a $102.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $90.12.
In other Medtronic PLC news, CEO Omar Ishrak sold 61,925 shares of Medtronic PLC stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $84.93, for a total transaction of $5,259,290.25. Following the transaction, the chief executive officer now owns 565,916 shares of the company’s stock, valued at approximately $48,063,245.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Gary Lee Ellis sold 35,495 shares of Medtronic PLC stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $88.64, for a total value of $3,146,276.80. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.
About Medtronic PLC
Medtronic plc (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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