Medtronic PLC (MDT) Position Held by Burns J W & Co. Inc. NY
Burns J W & Co. Inc. NY maintained its position in shares of Medtronic PLC (NYSE:MDT) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,738 shares of the medical technology company’s stock at the end of the second quarter. Burns J W & Co. Inc. NY’s holdings in Medtronic PLC were worth $775,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Lazard Asset Management LLC raised its holdings in Medtronic PLC by 1,061.4% during the first quarter. Lazard Asset Management LLC now owns 13,678,772 shares of the medical technology company’s stock valued at $1,101,960,000 after buying an additional 12,500,992 shares in the last quarter. RMB Capital Management LLC bought a new position in Medtronic PLC during the first quarter valued at about $4,576,000. Geode Capital Management LLC raised its holdings in Medtronic PLC by 7.3% during the first quarter. Geode Capital Management LLC now owns 13,308,812 shares of the medical technology company’s stock valued at $1,070,622,000 after buying an additional 906,581 shares in the last quarter. Epoch Investment Partners Inc. raised its holdings in Medtronic PLC by 1,024.0% during the first quarter. Epoch Investment Partners Inc. now owns 302,703 shares of the medical technology company’s stock valued at $24,386,000 after buying an additional 275,771 shares in the last quarter. Finally, Smith Salley & Associates raised its holdings in Medtronic PLC by 2.5% during the first quarter. Smith Salley & Associates now owns 5,853 shares of the medical technology company’s stock valued at $472,000 after buying an additional 141 shares in the last quarter. Institutional investors own 80.75% of the company’s stock.
Several equities analysts have weighed in on MDT shares. BidaskClub upgraded Medtronic PLC from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. Zacks Investment Research lowered Medtronic PLC from a “hold” rating to a “sell” rating in a report on Tuesday. Cowen and Company restated an “outperform” rating and set a $95.00 target price (up from $86.00) on shares of Medtronic PLC in a report on Sunday, May 28th. CIBC restated a “buy” rating on shares of Medtronic PLC in a report on Friday, May 26th. Finally, Jefferies Group LLC restated a “buy” rating and set a $103.00 target price on shares of Medtronic PLC in a report on Thursday, August 3rd. 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. The stock currently has a consensus rating of “Hold” and an average price target of $88.78.
Medtronic PLC (NYSE:MDT) traded down 0.577% during midday trading on Wednesday, reaching $81.825. The company’s stock had a trading volume of 1,791,621 shares. Medtronic PLC has a 52 week low of $69.35 and a 52 week high of $89.72. The firm has a 50 day moving average price of $82.48 and a 200-day moving average price of $83.66. The firm has a market cap of $110.84 billion, a P/E ratio of 27.541 and a beta of 1.03.
Medtronic PLC (NYSE:MDT) last announced its earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.04. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. The company had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.44 billion. During the same period last year, the firm earned $1.03 earnings per share. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, analysts forecast that Medtronic PLC will post $4.77 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.46 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.84 annualized dividend and a dividend yield of 2.24%. Medtronic PLC’s dividend payout ratio is presently 61.95%.
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In other news, EVP Bryan C. Hanson sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $88.57, for a total transaction of $1,062,840.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard H. Anderson bought 5,600 shares of the stock in a transaction dated Wednesday, June 21st. The shares were acquired at an average cost of $88.90 per share, for a total transaction of $497,840.00. Following the completion of the acquisition, the director now directly owns 71,910 shares of the company’s stock, valued at approximately $6,392,799. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by company insiders.
Medtronic PLC 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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