Medtronic PLC (MDT) Shares Bought by Rhumbline Advisers
Rhumbline Advisers increased its holdings in shares of Medtronic PLC (NYSE:MDT) by 0.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,360,204 shares of the medical technology company’s stock after purchasing an additional 3,031 shares during the quarter. Rhumbline Advisers owned 0.17% of Medtronic PLC worth $209,468,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of MDT. Parkside Financial Bank & Trust increased its holdings in Medtronic PLC by 22.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock valued at $102,000 after purchasing an additional 210 shares during the last quarter. Israel Discount Bank of New York purchased a new stake in Medtronic PLC in the first quarter valued at approximately $117,000. Birch Hill Investment Advisors LLC purchased a new stake in Medtronic PLC in the first quarter valued at approximately $120,000. Farmers National Bank acquired a new position in Medtronic PLC during the first quarter worth $121,000. Finally, Norway Savings Bank lifted its stake in Medtronic PLC by 2.7% during the second quarter. Norway Savings Bank now owns 1,427 shares of the medical technology company’s stock worth $127,000 after purchasing an additional 38 shares in the last quarter. 80.63% of the stock is owned by hedge funds and other institutional investors.
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Medtronic PLC (MDT) opened at 78.11 on Wednesday. The stock has a 50 day moving average of $80.57 and a 200 day moving average of $83.40. Medtronic PLC has a one year low of $69.35 and a one year high of $89.72. The firm has a market cap of $105.81 billion, a PE ratio of 26.29 and a beta of 1.01.
Medtronic PLC (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the business posted $1.03 earnings per share. Medtronic PLC’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, equities analysts forecast that Medtronic PLC will post $4.77 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 2.36%. Medtronic PLC’s dividend payout ratio is presently 61.95%.
In other news, EVP Bryan C. Hanson sold 12,000 shares of the stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Omar Ishrak sold 140,407 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $81.63, for a total transaction 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 approximately $54,569,899.89. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.
MDT has been the subject of a number of research reports. William Blair reiterated an “outperform” rating on shares of Medtronic PLC in a report on Thursday, July 6th. BidaskClub raised Medtronic PLC from a “buy” rating to a “strong-buy” rating in a research note 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, Zacks Investment Research downgraded Medtronic PLC from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $89.12.
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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