Medtronic PLC (MDT) Shares Sold by Public Employees Retirement Association of Colorado
Public Employees Retirement Association of Colorado reduced its stake in shares of Medtronic PLC (NYSE:MDT) by 0.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,781,058 shares of the medical technology company’s stock after selling 16,676 shares during the period. Medtronic PLC comprises approximately 1.3% of Public Employees Retirement Association of Colorado’s investment portfolio, making the stock its 6th largest position. Public Employees Retirement Association of Colorado owned 0.13% of Medtronic PLC worth $154,542,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of MDT. Dubuque Bank & Trust Co. raised its stake in Medtronic PLC by 77.6% in the first quarter. Dubuque Bank & Trust Co. now owns 56,147 shares of the medical technology company’s stock valued at $4,211,000 after buying an additional 24,533 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Medtronic PLC during the first quarter worth about $3,603,000. Ngam Advisors L.P. increased its position in shares of Medtronic PLC by 10.6% in the first quarter. Ngam Advisors L.P. now owns 361,080 shares of the medical technology company’s stock worth $27,080,000 after buying an additional 34,500 shares during the last quarter. Teachers Advisors Inc. increased its position in shares of Medtronic PLC by 5.0% in the first quarter. Teachers Advisors Inc. now owns 2,743,986 shares of the medical technology company’s stock worth $205,799,000 after buying an additional 131,741 shares during the last quarter. Finally, Stratos Wealth Partners LTD. increased its position in shares of Medtronic PLC by 14.4% in the first quarter. Stratos Wealth Partners LTD. now owns 11,238 shares of the medical technology company’s stock worth $843,000 after buying an additional 1,412 shares during the last quarter. Institutional investors and hedge funds own 83.11% of the company’s stock.
Medtronic PLC (NYSE:MDT) traded down 4.323% during midday trading on Tuesday, hitting $82.445. 6,051,830 shares of the stock were exchanged. The stock has a market cap of $113.93 billion, a P/E ratio of 32.080 and a beta of 0.88. Medtronic PLC has a one year low of $71.03 and a one year high of $89.27. The firm has a 50-day moving average price of $86.43 and a 200-day moving average price of $83.83.
Medtronic PLC (NYSE:MDT) last announced its earnings results on Thursday, August 25th. The medical technology company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.02. The business had revenue of $7.20 billion for the quarter, compared to analyst estimates of $7.17 billion. Medtronic PLC had a net margin of 12.70% and a return on equity of 12.06%. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period last year, the firm posted $1.02 earnings per share. On average, equities research analysts anticipate 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 given a $0.43 dividend. The ex-dividend date is Tuesday, September 27th. This represents a $1.72 dividend on an annualized basis and a yield of 2.00%. Medtronic PLC’s dividend payout ratio (DPR) is 66.93%.
MDT has been the topic of a number of analyst reports. SunTrust Banks Inc. lifted 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 reaffirmed a “buy” rating and issued a $86.50 price objective on shares of Medtronic PLC in a research report on Monday, June 27th. Zacks Investment Research raised shares of Medtronic PLC from a “hold” rating to a “buy” rating and set a $97.00 price objective on the stock in a research report on Tuesday, August 9th. Needham & Company LLC reaffirmed 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 issued a “buy” rating and a $102.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $90.12.
In related news, VP Richard Kuntz sold 25,199 shares of Medtronic PLC stock in a transaction on Monday, September 26th. The shares were sold at an average price of $86.67, for a total value of $2,183,997.33. Following the transaction, the vice president now directly owns 149,425 shares in the company, valued at approximately $12,950,664.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Gary Lee Ellis sold 35,495 shares of Medtronic PLC stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $88.64, for a total transaction of $3,146,276.80. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.
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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