Beach Investment Counsel Inc. PA boosted its position in Medtronic PLC (NYSE:MDT) by 2.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 282,436 shares of the medical technology company’s stock after buying an additional 5,510 shares during the period. Medtronic PLC accounts for approximately 2.9% of Beach Investment Counsel Inc. PA’s portfolio, making the stock its 10th largest position. Beach Investment Counsel Inc. PA’s holdings in Medtronic PLC were worth $24,507,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MDT. Emerald Acquisition Ltd. bought a new stake in shares of Medtronic PLC during the second quarter worth approximately $363,065,000. Janus Capital Management LLC raised its stake in shares of Medtronic PLC by 356.8% in the second quarter. Janus Capital Management LLC now owns 4,004,962 shares of the medical technology company’s stock worth $347,508,000 after buying an additional 3,128,250 shares during the last quarter. Standard Life Investments LTD raised its stake 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. Bank of Montreal Can bought a new stake in shares of Medtronic PLC during the second quarter worth approximately $168,956,000. Finally, Vanguard Group Inc. raised its stake in shares of Medtronic PLC by 1.6% in the second quarter. Vanguard Group Inc. now owns 95,677,703 shares of the medical technology company’s stock worth $8,301,954,000 after buying an additional 1,489,823 shares during the last quarter. 82.21% of the stock is currently owned by institutional investors.

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

Medtronic PLC (NYSE:MDT) opened at 82.07 on Monday. The firm has a market capitalization of $113.42 billion, a PE ratio of 31.93 and a beta of 1.01. Medtronic PLC has a 12 month low of $71.03 and a 12 month high of $89.27. The stock has a 50 day moving average of $83.91 and a 200 day moving average of $84.69.

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 analysts’ consensus estimates of $1.01 by $0.02. Medtronic PLC had a net margin of 12.70% and a return on equity of 12.06%. The business earned $7.20 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter last year, the company posted $1.02 earnings per share. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. On average, equities analysts predict that Medtronic PLC will post $4.66 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 21st. Investors of record on Thursday, September 29th were issued a dividend of $0.43 per share. The ex-dividend date was Tuesday, September 27th. This represents a $1.72 dividend on an annualized basis and a yield of 2.10%. Medtronic PLC’s dividend payout ratio (DPR) is presently 66.93%.

A number of brokerages recently commented on MDT. Deutsche Bank AG restated a “buy” rating on shares of Medtronic PLC in a report on Monday, October 31st. Vetr upgraded shares of Medtronic PLC from a “buy” rating to a “strong-buy” rating and set a $90.83 price objective on the stock in a report on Tuesday, November 1st. Cowen and Company set a $94.00 price target on shares of Medtronic PLC and gave the company a “buy” rating in a research note on Tuesday, August 23rd. Needham & Company LLC lifted their price target on shares of Medtronic PLC from $93.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, August 25th. Finally, Jefferies Group reiterated a “buy” rating and issued a $93.00 price target on shares of Medtronic PLC in a research note on Thursday, August 25th. Six investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $90.02.

In related news, CEO Omar Ishrak sold 61,925 shares of the firm’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $84.93, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Richard Kuntz sold 17,141 shares of the firm’s stock in a transaction dated Tuesday, September 27th. The stock was sold at an average price of $86.70, for a total transaction of $1,486,124.70. Following the sale, the vice president now owns 149,425 shares of the company’s stock, valued at approximately $12,955,147.50. The disclosure for this sale can be found here. Corporate 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.

5 Day Chart for NYSE:MDT

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