Legacy Private Trust Co. reduced its position in Medtronic PLC (NYSE:MDT) by 29.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,370 shares of the medical technology company’s stock after selling 2,690 shares during the period. Legacy Private Trust Co.’s holdings in Medtronic PLC were worth $565,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Jackson Grant Investment Advisers Inc. boosted its holdings in shares of Medtronic PLC by 0.3% in the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 2,920 shares of the medical technology company’s stock valued at $235,000 after buying an additional 9 shares in the last quarter. Triangle Securities Wealth Management boosted its holdings in shares of Medtronic PLC by 0.3% in the 2nd quarter. Triangle Securities Wealth Management now owns 4,396 shares of the medical technology company’s stock valued at $390,000 after buying an additional 15 shares in the last quarter. Tarbox Group Inc. boosted its holdings in shares of Medtronic PLC by 0.4% in the 1st quarter. Tarbox Group Inc. now owns 5,180 shares of the medical technology company’s stock valued at $417,000 after buying an additional 20 shares in the last quarter. Shufro Rose & Co. LLC boosted its holdings in shares of Medtronic PLC by 0.3% in the 1st quarter. Shufro Rose & Co. LLC now owns 10,381 shares of the medical technology company’s stock valued at $836,000 after buying an additional 28 shares in the last quarter. Finally, Guardian Life Insurance Co. of America boosted its holdings in shares of Medtronic PLC by 0.6% in the 1st quarter. Guardian Life Insurance Co. of America now owns 5,288 shares of the medical technology company’s stock valued at $426,000 after buying an additional 29 shares in the last quarter. Institutional investors and hedge funds own 80.63% of the company’s stock.

In related news, EVP Bryan C. Hanson sold 12,000 shares of the stock in a transaction on Monday, July 17th. The stock was sold at an average price of $88.57, for a total transaction of $1,062,840.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Omar Ishrak sold 140,407 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $81.63, for a total value of $11,461,423.41. Following the sale, the chief executive officer now directly owns 668,503 shares of the company’s stock, valued at $54,569,899.89. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Medtronic PLC (MDT) traded down 2.15% during trading on Monday, hitting $77.99. 3,520,936 shares of the stock traded hands. The firm’s 50-day moving average is $82.04 and its 200-day moving average is $83.67. Medtronic PLC has a 12 month low of $69.35 and a 12 month high of $89.72. The stock has a market cap of $105.64 billion, a P/E ratio of 26.25 and a beta of 1.03.

Medtronic PLC (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.44 billion. During the same period last year, the company earned $1.03 earnings per share. The company’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 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Investors 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 2.31%. The ex-dividend date is Thursday, September 28th. Medtronic PLC’s dividend payout ratio is presently 61.95%.

A number of analysts recently commented on the stock. Zacks Investment Research cut shares of Medtronic PLC from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. Evercore ISI reiterated an “outperform” rating and issued a $91.00 target price (up from $88.50) on shares of Medtronic PLC in a research note on Sunday, May 28th. BMO Capital Markets lifted their target price on shares of Medtronic PLC from $87.00 to $94.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 30th. Morgan Stanley lifted their target price on shares of Medtronic PLC from $84.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 30th. Finally, BidaskClub cut shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $88.78.

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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.

Institutional Ownership by Quarter for Medtronic PLC (NYSE:MDT)

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