Mitsubishi UFJ Trust & Banking Corp Acquires 4,630 Shares of Medtronic PLC (MDT)
Mitsubishi UFJ Trust & Banking Corp increased its stake in Medtronic PLC (NYSE:MDT) by 0.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,858,463 shares of the medical technology company’s stock after buying an additional 4,630 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.21% of Medtronic PLC worth $230,278,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisory Research Inc. increased its stake 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 in the last quarter. Bluestein R H & Co. increased its stake 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 in the last quarter. Smith Shellnut Wilson LLC ADV acquired a new stake in Medtronic PLC during the fourth quarter valued at $374,000. First Allied Advisory Services Inc. increased its stake 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 in the last quarter. Finally, Lumina Fund Management LLC acquired a new stake in Medtronic PLC during the fourth quarter valued at $7,123,000. Institutional investors own 83.13% of the company’s stock.
Shares of Medtronic PLC (MDT) traded up 0.47% during midday trading on Friday, reaching $83.68. 3,414,725 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $87.24 and its 200 day moving average price is $82.55. Medtronic PLC has a 12-month low of $69.35 and a 12-month high of $89.72. The company has a market cap of $113.72 billion, a price-to-earnings ratio of 28.96 and a beta of 1.02.
Medtronic PLC (NYSE:MDT) last posted its quarterly earnings results on Thursday, May 25th. The medical technology company reported $1.33 EPS for the quarter, beating the 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 during the quarter, compared to analyst estimates of $7.86 billion. During the same quarter in the previous year, the business posted $1.27 EPS. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. Equities analysts anticipate that Medtronic PLC will post $4.81 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were issued a $0.46 dividend. The ex-dividend date was Wednesday, July 5th. This represents a $1.84 annualized dividend and a dividend yield of 2.20%. This is a positive change from Medtronic PLC’s previous quarterly dividend of $0.43. Medtronic PLC’s payout ratio is currently 63.67%.
Several analysts have weighed in on the stock. UBS AG reissued a “buy” rating and issued a $95.00 price target (up from $94.00) on shares of Medtronic PLC in a research note on Tuesday, May 30th. BidaskClub downgraded shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Jefferies Group LLC reissued a “buy” rating and issued a $103.00 price target on shares of Medtronic PLC in a research note on Thursday. Zacks Investment Research downgraded shares of Medtronic PLC from a “hold” rating to a “sell” rating in a research note on Monday. Finally, Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of Medtronic PLC in a research note on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $89.84.
In other news, EVP Bryan C. Hanson sold 12,000 shares of the business’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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard H. Anderson acquired 5,600 shares of the business’s stock in a transaction dated Wednesday, June 21st. The stock was purchased at an average cost of $88.90 per share, for a total transaction of $497,840.00. Following the transaction, the director now owns 71,910 shares in the company, valued at $6,392,799. The disclosure for this purchase can be found here. Insiders own 0.25% of the company’s stock.
Medtronic PLC Company Profile
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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