F&V Capital Management LLC Lowers Holdings in Medtronic PLC (MDT)
F&V Capital Management LLC lessened its position in shares of Medtronic PLC (NYSE:MDT) by 0.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 71,575 shares of the medical technology company’s stock after selling 500 shares during the period. Medtronic PLC comprises 3.6% of F&V Capital Management LLC’s investment portfolio, making the stock its 8th biggest holding. F&V Capital Management LLC’s holdings in Medtronic PLC were worth $6,352,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of MDT. BlackRock Inc. grew its holdings in Medtronic PLC by 2,513.4% during the 1st quarter. BlackRock Inc. now owns 87,035,376 shares of the medical technology company’s stock worth $7,011,571,000 after acquiring an additional 83,705,052 shares in the last quarter. Lazard Asset Management LLC grew its holdings in Medtronic PLC by 1,061.4% during the 1st quarter. Lazard Asset Management LLC now owns 13,678,772 shares of the medical technology company’s stock worth $1,101,960,000 after acquiring an additional 12,500,992 shares in the last quarter. Vanguard Group Inc. grew its holdings in Medtronic PLC by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 102,321,656 shares of the medical technology company’s stock worth $8,243,034,000 after acquiring an additional 4,412,536 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Medtronic PLC by 18.9% during the 1st quarter. Wells Fargo & Company MN now owns 11,932,572 shares of the medical technology company’s stock worth $961,288,000 after acquiring an additional 1,895,386 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Medtronic PLC by 3.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 58,646,070 shares of the medical technology company’s stock worth $4,724,526,000 after acquiring an additional 1,729,715 shares in the last quarter. Institutional investors own 80.75% of the company’s stock.
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Shares of Medtronic PLC (NYSE:MDT) traded up 0.39% during trading on Friday, reaching $82.12. 9,563,374 shares of the company’s stock were exchanged. The company’s 50-day moving average is $82.18 and its 200 day moving average is $83.65. Medtronic PLC has a 52 week low of $69.35 and a 52 week high of $89.72. The stock has a market capitalization of $111.24 billion, a PE ratio of 27.64 and a beta of 1.03.
Medtronic PLC (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, beating the 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 during the quarter, compared to the consensus estimate of $7.44 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, analysts forecast that Medtronic PLC will post $4.77 earnings per share for the current year.
The company also recently declared 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. This represents a $1.84 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Thursday, September 28th. Medtronic PLC’s dividend payout ratio (DPR) is 61.95%.
MDT has been the subject of several research analyst reports. William Blair restated an “outperform” rating on shares of Medtronic PLC in a report on Thursday, July 6th. BidaskClub upgraded shares of Medtronic PLC from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. Wells Fargo & Company restated an “outperform” rating on shares of Medtronic PLC in a report on Wednesday, July 12th. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Medtronic PLC in a report on Tuesday, July 18th. Finally, Needham & Company LLC restated a “buy” rating and issued a $95.00 target price (up previously from $91.00) on shares of Medtronic PLC in a report on Thursday, May 25th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $88.78.
In other news, Director Richard H. Anderson purchased 5,600 shares of Medtronic PLC stock in a transaction dated Wednesday, June 21st. The stock was bought at an average price of $88.90 per share, with a total value of $497,840.00. Following the completion of the acquisition, the director now owns 71,910 shares in the company, valued at approximately $6,392,799. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Bryan C. Hanson sold 12,000 shares of the business’s stock in a transaction 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 disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.
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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