Sit Investment Associates Inc. cut its position in shares of Medtronic PLC (NYSE:MDT) by 52.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 815,475 shares of the medical technology company’s stock after selling 891,050 shares during the period. Medtronic PLC comprises 1.9% of Sit Investment Associates Inc.’s investment portfolio, making the stock its 3rd largest position. Sit Investment Associates Inc. owned 0.06% of Medtronic PLC worth $70,759,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in MDT. Kistler Tiffany Companies LLC increased its position in shares of Medtronic PLC by 2.1% in the second quarter. Kistler Tiffany Companies LLC now owns 1,776 shares of the medical technology company’s stock worth $154,000 after buying an additional 36 shares in the last quarter. Trust Co. of Toledo NA OH increased its position in shares of Medtronic PLC by 0.4% in the second quarter. Trust Co. of Toledo NA OH now owns 11,046 shares of the medical technology company’s stock worth $958,000 after buying an additional 40 shares in the last quarter. Shufro Rose & Co. LLC increased its position in shares of Medtronic PLC by 0.4% in the first quarter. Shufro Rose & Co. LLC now owns 13,325 shares of the medical technology company’s stock worth $999,000 after buying an additional 47 shares in the last quarter. Webster Bank N. A. increased its position in shares of Medtronic PLC by 0.6% in the second quarter. Webster Bank N. A. now owns 8,800 shares of the medical technology company’s stock worth $763,000 after buying an additional 51 shares in the last quarter. Finally, Ropes Wealth Advisors LLC increased its position in shares of Medtronic PLC by 1.7% in the first quarter. Ropes Wealth Advisors LLC now owns 3,132 shares of the medical technology company’s stock worth $235,000 after buying an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 83.11% of the company’s stock.

Institutional Ownership by Quarter for Medtronic PLC (NYSE:MDT)

Medtronic PLC (NYSE:MDT) traded up 0.413% during midday trading on Monday, hitting $86.315. 2,026,330 shares of the company traded hands. The stock has a market cap of $119.28 billion, a P/E ratio of 33.586 and a beta of 0.88. The stock has a 50 day moving average of $86.45 and a 200 day moving average of $83.62. Medtronic PLC has a 12-month low of $71.03 and a 12-month high of $89.27.

Medtronic PLC (NYSE:MDT) last announced 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. Medtronic PLC had a return on equity of 12.06% and a net margin of 12.70%. The firm had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same period last year, the business posted $1.02 earnings per share. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. Equities research analysts predict that Medtronic PLC will post $4.66 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Thursday, September 29th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Tuesday, September 27th. Medtronic PLC’s dividend payout ratio (DPR) is presently 66.93%.

A number of brokerages recently issued reports on MDT. Vetr downgraded shares of Medtronic PLC from a “buy” rating to a “hold” rating and set a $87.96 price target for the company. in a research note on Wednesday, June 29th. Needham & Company LLC restated a “buy” rating on shares of Medtronic PLC in a research report on Monday, June 27th. BTIG Research restated a “hold” rating on shares of Medtronic PLC in a research report on Monday, June 27th. Argus restated a “hold” rating on shares of Medtronic PLC in a research report on Monday, June 20th. Finally, SunTrust Banks Inc. boosted 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. Six research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $90.12.

In other Medtronic PLC news, EVP Gary Lee Ellis sold 35,495 shares of the firm’s stock in a transaction on Wednesday, July 13th. The stock was sold at an average price of $88.64, for a total value of $3,146,276.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Omar Ishrak sold 61,925 shares of the firm’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $84.93, for a total value of $5,259,290.25. Following the completion of the sale, the chief executive officer now owns 565,916 shares in the company, valued at $48,063,245.88. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Medtronic PLC Company Profile

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.

5 Day Chart for NYSE:MDT

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