Mogy Joel R Investment Counsel Inc. held its stake in Medtronic PLC (NYSE:MDT) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 21,020 shares of the medical technology company’s stock at the close of the second quarter. Mogy Joel R Investment Counsel Inc.’s holdings in Medtronic PLC were worth $1,866,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in MDT. Waldron LP acquired a new position in Medtronic PLC during the first quarter worth about $512,000. Boston Partners raised its position in Medtronic PLC by 2.9% during the first quarter. Boston Partners now owns 1,327,553 shares of the medical technology company’s stock worth $106,947,000 after acquiring an additional 37,028 shares during the last quarter. HPM Partners LLC acquired a new position in Medtronic PLC during the first quarter worth about $1,352,000. Princeton Alpha Management LP acquired a new position in Medtronic PLC during the first quarter worth about $557,000. Finally, Pinnacle Financial Partners Inc. raised its position in Medtronic PLC by 7.4% during the first quarter. Pinnacle Financial Partners Inc. now owns 35,915 shares of the medical technology company’s stock worth $2,893,000 after acquiring an additional 2,476 shares during the last quarter. Institutional investors own 80.63% of the company’s stock.

Shares of Medtronic PLC (NYSE MDT) opened at 77.29 on Wednesday. Medtronic PLC has a 12-month low of $69.35 and a 12-month high of $89.72. The stock has a market capitalization of $104.70 billion, a P/E ratio of 26.01 and a beta of 1.01. The company has a 50-day moving average of $79.78 and a 200-day moving average of $83.30.

Medtronic PLC (NYSE:MDT) last posted its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. The business had revenue of $7.39 billion during the quarter, compared to analyst estimates of $7.44 billion. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. The firm’s revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 earnings per share. Equities analysts expect that Medtronic PLC will post $4.69 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, September 29th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Thursday, September 28th. Medtronic PLC’s dividend payout ratio (DPR) is 61.95%.

Medtronic PLC announced that its board has initiated a share repurchase program on Friday, June 23rd that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the medical technology company to repurchase up to 49% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

In other 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Omar Ishrak sold 140,407 shares of the 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 completion of 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 corporate insiders.

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A number of research firms have recently weighed in on MDT. Jefferies Group LLC reissued a “buy” rating and issued a $96.00 price objective on shares of Medtronic PLC in a research report on Thursday, September 28th. William Blair reissued an “outperform” rating on shares of Medtronic PLC in a research report on Thursday, July 6th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $96.00 price objective on shares of Medtronic PLC in a research report on Monday, October 2nd. Zacks Investment Research lowered shares of Medtronic PLC from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Finally, BidaskClub lowered shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $87.79.

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.

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

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