Duncker Streett & Co. Inc. Has $1,470,000 Stake in Medtronic PLC (MDT)
Duncker Streett & Co. Inc. continued to hold its position in shares of Medtronic PLC (NYSE:MDT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,564 shares of the medical technology company’s stock at the end of the second quarter. Duncker Streett & Co. Inc.’s holdings in Medtronic PLC were worth $1,470,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Howe & Rusling Inc. boosted its position in shares of Medtronic PLC by 59.9% in the first quarter. Howe & Rusling Inc. now owns 81,310 shares of the medical technology company’s stock worth $6,550,000 after buying an additional 30,470 shares during the last quarter. Pinnacle Bank bought a new position in shares of Medtronic PLC during the first quarter worth about $258,000. Berkshire Asset Management LLC PA boosted its position in shares of Medtronic PLC by 9.8% in the first quarter. Berkshire Asset Management LLC PA now owns 87,184 shares of the medical technology company’s stock worth $7,024,000 after buying an additional 7,764 shares during the last quarter. CWM LLC boosted its position in shares of Medtronic PLC by 2.3% in the first quarter. CWM LLC now owns 79,795 shares of the medical technology company’s stock worth $6,428,000 after buying an additional 1,818 shares during the last quarter. Finally, Doyle Wealth Management bought a new position in shares of Medtronic PLC during the first quarter worth about $1,230,000. Institutional investors and hedge funds own 83.54% of the company’s stock.
Medtronic PLC (NYSE MDT) traded up 0.20% during mid-day trading on Wednesday, reaching $84.76. The company’s stock had a trading volume of 1,833,187 shares. The stock has a 50-day moving average price of $85.91 and a 200-day moving average price of $83.14. Medtronic PLC has a one year low of $69.35 and a one year high of $89.72. The company has a market capitalization of $115.19 billion, a price-to-earnings ratio of 29.33 and a beta of 1.02.
Medtronic PLC (NYSE:MDT) last released its quarterly earnings data on Thursday, May 25th. The medical technology company reported $1.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.02. The business had revenue of $7.92 billion during the quarter, compared to analyst estimates of $7.86 billion. Medtronic PLC had a return on equity of 12.72% and a net margin of 13.56%. The company’s revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the business posted $1.27 EPS. Equities research analysts forecast that Medtronic PLC will post $4.81 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Friday, July 7th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend was Wednesday, July 5th. This is a positive change from Medtronic PLC’s previous quarterly dividend of $0.43. Medtronic PLC’s payout ratio is currently 63.67%.
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Several research analysts have recently weighed in on the company. William Blair restated an “outperform” rating on shares of Medtronic PLC in a research note on Thursday, July 6th. BidaskClub upgraded Medtronic PLC from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 17th. Wells Fargo & Company restated an “outperform” rating on shares of Medtronic PLC in a research note on Wednesday, July 12th. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Medtronic PLC in a research note on Tuesday, July 18th. Finally, Needham & Company LLC restated a “buy” rating and issued a $95.00 price target (up previously from $91.00) on shares of Medtronic PLC in a research note on Thursday, May 25th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Medtronic PLC has a consensus rating of “Hold” and an average price target of $89.84.
In related news, EVP Bryan C. Hanson sold 12,000 shares of Medtronic PLC stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $88.57, for a total value of $1,062,840.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard H. Anderson purchased 5,600 shares of the business’s stock in a transaction that occurred on Wednesday, June 21st. The stock was acquired 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 in the company, valued at $6,392,799. The disclosure for this purchase can be found here. 0.25% of the stock is owned by insiders.
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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