Medtronic PLC (NYSE:MDT) Shares Sold by Headinvest LLC
Headinvest LLC cut its stake in shares of Medtronic PLC (NYSE:MDT) by 2.7% during the second quarter, Holdings Channel reports. The fund owned 50,378 shares of the medical technology company’s stock after selling 1,385 shares during the period. Medtronic PLC accounts for 1.5% of Headinvest LLC’s holdings, making the stock its 22nd largest position. Headinvest LLC’s holdings in Medtronic PLC were worth $4,471,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Jackson Grant Investment Advisers Inc. increased its position in Medtronic PLC by 0.3% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 2,920 shares of the medical technology company’s stock valued at $235,000 after buying an additional 9 shares during the last quarter. Hudock Capital Group LLC increased its position in Medtronic PLC by 0.6% in the first quarter. Hudock Capital Group LLC now owns 2,184 shares of the medical technology company’s stock valued at $175,000 after buying an additional 12 shares during the last quarter. Delta Asset Management LLC TN increased its position in Medtronic PLC by 0.4% in the first quarter. Delta Asset Management LLC TN now owns 3,713 shares of the medical technology company’s stock valued at $299,000 after buying an additional 13 shares during the last quarter. Bollard Group LLC increased its position in Medtronic PLC by 0.4% in the first quarter. Bollard Group LLC now owns 3,637 shares of the medical technology company’s stock valued at $293,000 after buying an additional 14 shares during the last quarter. Finally, Triangle Securities Wealth Management increased its position in Medtronic PLC by 0.3% in the second quarter. Triangle Securities Wealth Management now owns 4,396 shares of the medical technology company’s stock valued at $390,000 after buying an additional 15 shares during the last quarter. 83.11% of the stock is owned by hedge funds and other institutional investors.
Medtronic PLC (MDT) opened at 85.17 on Friday. Medtronic PLC has a one year low of $69.35 and a one year high of $89.72. The company has a 50-day moving average price of $87.57 and a 200-day moving average price of $81.81. The firm has a market cap of $115.75 billion, a PE ratio of 29.47 and a beta of 1.04.
Medtronic PLC (NYSE:MDT) last posted its quarterly earnings results on Thursday, May 25th. The medical technology company reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.02. Medtronic PLC had a net margin of 13.56% and a return on equity of 12.72%. The business had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.86 billion. During the same period in the prior year, the business posted $1.27 earnings per share. Medtronic PLC’s revenue for the quarter was up 4.6% compared to the same quarter last year. Equities analysts predict that Medtronic PLC will post $4.95 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th will be paid a $0.46 dividend. The ex-dividend date is Wednesday, July 5th. This is an increase from Medtronic PLC’s previous quarterly dividend of $0.43. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.16%. Medtronic PLC’s dividend payout ratio is 63.67%.
ILLEGAL ACTIVITY NOTICE: This piece was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece on another site, it was stolen and reposted in violation of United States and international trademark & copyright legislation. The correct version of this piece can be accessed at https://www.thecerbatgem.com/2017/07/23/medtronic-plc-nysemdt-shares-sold-by-headinvest-llc.html.
Several research firms have weighed in on MDT. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Medtronic PLC in a research report on Tuesday, July 18th. Wells Fargo & Company reissued an “outperform” rating on shares of Medtronic PLC in a research report on Wednesday, July 12th. William Blair reissued an “outperform” rating on shares of Medtronic PLC in a research report on Thursday, July 6th. BidaskClub raised Medtronic PLC from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Finally, BMO Capital Markets raised their price target on Medtronic PLC from $87.00 to $94.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 30th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Medtronic PLC has a consensus rating of “Buy” and a consensus target price of $89.16.
In other news, EVP Bryan C. Hanson sold 12,000 shares of the company’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $88.57, for a total value of $1,062,840.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard H. Anderson purchased 5,600 shares of the company’s stock in a transaction dated Wednesday, June 21st. The stock was bought at an average cost of $88.90 per share, for a total transaction of $497,840.00. Following the completion of the purchase, the director now directly owns 71,910 shares of the company’s stock, valued at approximately $6,392,799. The disclosure for this purchase can be found here. Corporate insiders own 0.25% of the company’s stock.
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.
Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic PLC (NYSE:MDT).
Receive News & Stock Ratings for Medtronic PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic PLC and related stocks with our FREE daily email newsletter.