Tiedemann Wealth Management LLC Has $2.64 Million Position in Medtronic PLC (NYSE:MDT)
Tiedemann Wealth Management LLC increased its stake in Medtronic PLC (NYSE:MDT) by 35.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,739 shares of the medical technology company’s stock after buying an additional 8,593 shares during the period. Tiedemann Wealth Management LLC’s holdings in Medtronic PLC were worth $2,637,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in MDT. Dodge & Cox bought a new stake in shares of Medtronic PLC during the fourth quarter valued at approximately $761,351,000. Norges Bank bought a new stake in shares of Medtronic PLC during the fourth quarter valued at approximately $757,324,000. Franklin Resources Inc. boosted its stake in shares of Medtronic PLC by 11.0% in the fourth quarter. Franklin Resources Inc. now owns 37,236,096 shares of the medical technology company’s stock valued at $2,652,348,000 after buying an additional 3,694,537 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of Medtronic PLC during the fourth quarter valued at approximately $202,568,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Medtronic PLC by 18.9% in the first quarter. Wells Fargo & Company MN now owns 11,932,572 shares of the medical technology company’s stock valued at $961,288,000 after buying an additional 1,895,386 shares during the last quarter. Institutional investors and hedge funds own 83.36% of the company’s stock.
Shares of Medtronic PLC (MDT) traded down 0.64% on Tuesday, hitting $83.83. 3,816,734 shares of the company were exchanged. Medtronic PLC has a 52-week low of $69.35 and a 52-week high of $89.72. The firm has a market cap of $113.93 billion, a P/E ratio of 29.01 and a beta of 1.02. The company has a 50-day moving average price of $86.89 and a 200 day moving average price of $82.57.
Medtronic PLC (NYSE:MDT) last posted its earnings results on Thursday, May 25th. The medical technology company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.02. The company had revenue of $7.92 billion for the quarter, compared to analysts’ expectations of $7.86 billion. Medtronic PLC had a return on equity of 12.72% and a net margin of 13.56%. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the business posted $1.27 earnings per share. Analysts predict that Medtronic PLC will post $4.81 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.19%. This is a boost from Medtronic PLC’s previous quarterly dividend of $0.43. The ex-dividend date was Wednesday, July 5th. Medtronic PLC’s dividend payout ratio (DPR) is presently 63.67%.
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MDT has been the topic of several research analyst reports. Evercore ISI boosted their price target on shares of Medtronic PLC from $88.00 to $88.50 and gave the stock an “outperform” rating in a research note on Wednesday, April 19th. Royal Bank Of Canada reiterated a “buy” rating and issued a $85.00 price target on shares of Medtronic PLC in a research note on Tuesday, April 18th. 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 target price on the stock. Zacks Investment Research downgraded shares of Medtronic PLC from a “hold” rating to a “sell” rating in a report on Tuesday, May 23rd. Finally, BMO Capital Markets upped their price target on shares of Medtronic PLC from $87.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday, May 30th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $89.84.
In related news, Director Richard H. Anderson purchased 5,600 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The shares were purchased at an average price of $88.90 per share, with a total value of $497,840.00. Following the purchase, the director now owns 71,910 shares of the company’s stock, valued at approximately $6,392,799. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Bryan C. Hanson sold 12,000 shares of Medtronic PLC 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 disclosure for this sale can be found here. Company 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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