Moody Lynn & Lieberson LLC Boosts Position in Medtronic PLC (MDT)
Moody Lynn & Lieberson LLC raised its stake in shares of Medtronic PLC (NYSE:MDT) by 171.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,643 shares of the medical technology company’s stock after buying an additional 88,926 shares during the period. Medtronic PLC accounts for 1.6% of Moody Lynn & Lieberson LLC’s investment portfolio, making the stock its 21st largest position. Moody Lynn & Lieberson LLC’s holdings in Medtronic PLC were worth $12,482,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in MDT. BTIM Corp. increased its stake in shares of Medtronic PLC by 0.9% in the first quarter. BTIM Corp. now owns 493,837 shares of the medical technology company’s stock valued at $39,784,000 after buying an additional 4,476 shares in the last quarter. Crestwood Advisors Group LLC increased its stake in shares of Medtronic PLC by 6.1% in the first quarter. Crestwood Advisors Group LLC now owns 243,407 shares of the medical technology company’s stock valued at $19,609,000 after buying an additional 13,943 shares in the last quarter. Waldron LP purchased a new stake in shares of Medtronic PLC during the first quarter valued at $512,000. Gilman Hill Asset Management LLC increased its stake in shares of Medtronic PLC by 2.9% in the first quarter. Gilman Hill Asset Management LLC now owns 7,535 shares of the medical technology company’s stock valued at $607,000 after buying an additional 215 shares in the last quarter. Finally, Global Thematic Partners LLC increased its stake in shares of Medtronic PLC by 54.6% in the first quarter. Global Thematic Partners LLC now owns 505,928 shares of the medical technology company’s stock valued at $40,756,000 after buying an additional 178,714 shares in the last quarter. Institutional investors and hedge funds own 80.49% of the company’s stock.
Medtronic PLC (NYSE MDT) opened at 79.86 on Thursday. The stock has a market cap of $108.76 billion, a P/E ratio of 26.88 and a beta of 1.02. The firm’s 50-day moving average is $84.48 and its 200-day moving average is $83.39. Medtronic PLC has a 52-week low of $69.35 and a 52-week high of $89.72.
Medtronic PLC (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.04. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The company had revenue of $7.39 billion for the quarter, compared to the consensus estimate of $7.44 billion. During the same period in the previous year, the business earned $1.03 EPS. Medtronic PLC’s revenue for the quarter was up 3.1% compared to the same quarter last year. Equities research analysts predict that Medtronic PLC will post $4.76 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.84 annualized dividend and a yield of 2.30%. Medtronic PLC’s dividend payout ratio is presently 61.95%.
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Several brokerages have recently weighed in on MDT. Morgan Stanley increased their target price on shares of Medtronic PLC from $84.00 to $86.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 30th. Stifel Nicolaus reissued a “hold” rating and issued a $91.00 target price (up previously from $84.00) on shares of Medtronic PLC in a research note on Sunday, May 28th. William Blair reissued an “outperform” rating on shares of Medtronic PLC in a research note on Thursday, July 6th. Evercore ISI reissued an “outperform” rating and issued a $91.00 target price (up previously from $88.50) on shares of Medtronic PLC in a research note on Sunday, May 28th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $95.00 target price (up previously from $91.00) on shares of Medtronic PLC in a research note on Thursday, May 25th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company. Medtronic PLC presently has a consensus rating of “Hold” and an average target price of $88.78.
In other Medtronic PLC news, Director Richard H. Anderson acquired 5,600 shares of the company’s stock in a transaction on Wednesday, June 21st. The shares were bought at an average cost of $88.90 per share, for a total transaction of $497,840.00. Following the acquisition, the director now directly owns 71,910 shares of the company’s stock, valued at $6,392,799. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Bryan C. Hanson sold 12,000 shares of Medtronic PLC stock in a transaction that occurred on Monday, July 17th. The stock was 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. 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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