Medtronic PLC (MDT) Holdings Increased by Gateway Investment Advisers LLC
Gateway Investment Advisers LLC grew its stake in shares of Medtronic PLC (NYSE:MDT) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,014,447 shares of the medical technology company’s stock after buying an additional 21,864 shares during the quarter. Gateway Investment Advisers LLC owned about 0.07% of Medtronic PLC worth $90,032,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Farmers National Bank bought a new stake in shares of Medtronic PLC during the 1st quarter worth about $121,000. Israel Discount Bank of New York bought a new stake in shares of Medtronic PLC during the 1st quarter worth about $117,000. Birch Hill Investment Advisors LLC bought a new stake in shares of Medtronic PLC during the 1st quarter worth about $120,000. Proficio Capital Partners LLC raised its position in shares of Medtronic PLC by 33.3% during the 1st quarter. Proficio Capital Partners LLC now owns 1,811 shares of the medical technology company’s stock worth $153,000 after buying an additional 452 shares in the last quarter. Finally, Harbour Capital Advisors LLC bought a new stake in shares of Medtronic PLC during the 1st quarter worth about $154,000. Institutional investors own 80.62% of the company’s stock.
In related news, EVP Bryan C. Hanson sold 12,000 shares of the stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $88.57, for a total value of $1,062,840.00. The sale was disclosed in a filing with the SEC, which can be accessed 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 purchased at an average price of $88.90 per share, for a total transaction of $497,840.00. Following the completion of the transaction, the director now directly owns 71,910 shares in the company, valued at $6,392,799. The disclosure for this purchase can be found here. Company insiders own 0.31% of the company’s stock.
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Medtronic PLC (MDT) traded up 0.11% on Monday, hitting $82.21. 1,525,171 shares of the stock traded hands. Medtronic PLC has a 12-month low of $69.35 and a 12-month high of $89.72. The company’s 50 day moving average price is $82.18 and its 200-day moving average price is $83.65. The stock has a market capitalization of $111.36 billion, a P/E ratio of 27.67 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 for the quarter, beating analysts’ consensus estimates of $1.08 by $0.04. The business had revenue of $7.39 billion for the quarter, compared to the consensus estimate of $7.44 billion. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. Medtronic PLC’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period last year, the company posted $1.03 EPS. Analysts predict that Medtronic PLC will post $4.77 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, September 29th will be given a $0.46 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.24%. Medtronic PLC’s dividend payout ratio is 61.95%.
A number of analysts have commented on MDT shares. Zacks Investment Research downgraded shares of Medtronic PLC from a “hold” rating to a “sell” rating in a research report on Tuesday, May 23rd. Evercore ISI restated an “outperform” rating and set a $91.00 price target (up from $88.50) on shares of Medtronic PLC in a research report on Sunday, May 28th. BMO Capital Markets boosted their price target on shares of Medtronic PLC from $87.00 to $94.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 30th. Morgan Stanley boosted their price target on shares of Medtronic PLC from $84.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 30th. Finally, BidaskClub downgraded shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $88.78.
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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