HL Financial Services LLC Cuts Position in Medtronic PLC (MDT)
HL Financial Services LLC cut its position in shares of Medtronic PLC (NYSE:MDT) by 25.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,537 shares of the medical technology company’s stock after selling 2,271 shares during the period. HL Financial Services LLC’s holdings in Medtronic PLC were worth $527,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in the stock. Edge Asset Management Inc. raised its position in Medtronic PLC by 19.3% in the fourth quarter. Edge Asset Management Inc. now owns 1,548,169 shares of the medical technology company’s stock valued at $110,276,000 after buying an additional 250,775 shares during the last quarter. Advisory Research Inc. raised its position in Medtronic PLC by 36.3% in the fourth quarter. Advisory Research Inc. now owns 59,108 shares of the medical technology company’s stock valued at $4,210,000 after buying an additional 15,730 shares during the last quarter. Bluestein R H & Co. raised its position in Medtronic PLC by 8,759.5% in the fourth quarter. Bluestein R H & Co. now owns 261,797 shares of the medical technology company’s stock valued at $18,648,000 after buying an additional 258,842 shares during the last quarter. Smith Shellnut Wilson LLC ADV acquired a new position in Medtronic PLC during the fourth quarter valued at $374,000. Finally, First Allied Advisory Services Inc. raised its position in Medtronic PLC by 2.9% in the fourth quarter. First Allied Advisory Services Inc. now owns 12,701 shares of the medical technology company’s stock valued at $905,000 after buying an additional 361 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.
Medtronic PLC (MDT) traded up 0.11% on Thursday, reaching $83.29. 5,944,272 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $87.24 and a 200-day moving average of $82.55. The firm has a market capitalization of $113.19 billion, a price-to-earnings ratio of 28.82 and a beta of 1.02. Medtronic PLC has a 12 month low of $69.35 and a 12 month high of $89.72.
Medtronic PLC (NYSE:MDT) last announced its earnings results on Thursday, May 25th. The medical technology company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.02. The business had revenue of $7.92 billion during the quarter, compared to analysts’ expectations of $7.86 billion. Medtronic PLC had a net margin of 13.56% and a return on equity of 12.72%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the company posted $1.27 EPS. On average, equities analysts expect that Medtronic PLC will post $4.95 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th were given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.21%. The ex-dividend date was Wednesday, July 5th. This is a boost from Medtronic PLC’s previous quarterly dividend of $0.43. Medtronic PLC’s dividend payout ratio (DPR) is presently 63.67%.
MDT has been the topic of several recent research reports. Royal Bank Of Canada restated a “buy” rating and set a $85.00 target price on shares of Medtronic PLC in a report on Tuesday, April 18th. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Medtronic PLC in a report on Tuesday, April 18th. Evercore ISI boosted their price objective on shares of Medtronic PLC from $88.00 to $88.50 and gave the stock an “outperform” rating in a report on Wednesday, April 19th. Northland Securities reiterated a “hold” rating and issued a $80.00 price objective on shares of Medtronic PLC in a report on Thursday, April 20th. Finally, Goldman Sachs Group, Inc. (The) initiated coverage on shares of Medtronic PLC in a report on Tuesday, May 16th. They issued a “neutral” rating and a $87.00 price objective on the stock. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Medtronic PLC presently has a consensus rating of “Buy” and a consensus price target of $89.84.
In other Medtronic PLC news, EVP Bryan C. Hanson sold 12,000 shares of the firm’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard H. Anderson acquired 5,600 shares of the stock in a transaction on Wednesday, June 21st. The stock was bought at an average price of $88.90 per share, with a total value of $497,840.00. Following the transaction, the director now directly owns 71,910 shares in the company, valued at approximately $6,392,799. The disclosure for this purchase can be found here. Company 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.
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