CCM Investment Advisers LLC Acquires 5,400 Shares of Medtronic PLC (MDT)
CCM Investment Advisers LLC raised its holdings in Medtronic PLC (NYSE:MDT) by 4.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 116,319 shares of the medical technology company’s stock after purchasing an additional 5,400 shares during the period. Medtronic PLC makes up about 2.0% of CCM Investment Advisers LLC’s portfolio, making the stock its 12th largest holding. CCM Investment Advisers LLC’s holdings in Medtronic PLC were worth $10,323,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. RMB Capital Management LLC bought a new stake in Medtronic PLC in the 1st quarter valued at about $4,576,000. Lazard Asset Management LLC raised its position in shares of Medtronic PLC by 1,061.4% in the 1st 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. WealthTrust Arizona LLC raised its position in shares of Medtronic PLC by 9.7% in the 2nd quarter. WealthTrust Arizona LLC now owns 4,994 shares of the medical technology company’s stock valued at $443,000 after buying an additional 441 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Medtronic PLC by 7.3% in the 1st 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. Finally, Epoch Investment Partners Inc. raised its position in shares of Medtronic PLC by 1,024.0% in the 1st 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. 80.63% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Omar Ishrak sold 140,407 shares of Medtronic PLC stock in a transaction on Friday, September 15th. The shares were sold at an average price of $81.63, for a total value of $11,461,423.41. Following the transaction, the chief executive officer now directly owns 668,503 shares of the company’s stock, valued at $54,569,899.89. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Bryan C. Hanson sold 12,000 shares of Medtronic PLC 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 disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.
Several equities analysts have recently commented on the stock. Jefferies Group LLC restated a “buy” rating and issued a $96.00 target price on shares of Medtronic PLC in a research report on Thursday, September 28th. William Blair restated an “outperform” rating on shares of Medtronic PLC in a research report on Thursday, July 6th. SunTrust Banks, Inc. restated a “buy” rating and issued a $96.00 target price on shares of Medtronic PLC in a research report on Monday. Zacks Investment Research cut shares of Medtronic PLC from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Finally, BidaskClub cut shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $88.98.
Medtronic PLC (NYSE MDT) opened at 78.63 on Thursday. The firm has a 50-day moving average of $80.40 and a 200 day moving average of $83.36. Medtronic PLC has a 12 month low of $69.35 and a 12 month high of $89.72. The firm has a market capitalization of $106.51 billion, a PE ratio of 26.47 and a beta of 1.01.
Medtronic PLC (NYSE:MDT) last posted its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.08 by $0.04. The firm 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%. The business’s revenue was up 3.1% compared to the same quarter last year. During the same period last year, the firm posted $1.03 earnings per share. Equities research analysts forecast that Medtronic PLC will post $4.77 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Thursday, September 28th. Medtronic PLC’s dividend payout ratio (DPR) is presently 61.95%.
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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.
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