Medtronic PLC (MDT) Shares Bought by Schulhoff & Co. Inc.
Schulhoff & Co. Inc. lifted its stake in Medtronic PLC (NYSE:MDT) by 1.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,139 shares of the medical technology company’s stock after buying an additional 250 shares during the quarter. Schulhoff & Co. Inc.’s holdings in Medtronic PLC were worth $1,343,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in MDT. BlackRock Inc. lifted its holdings in shares of Medtronic PLC by 2,513.4% in the first quarter. BlackRock Inc. now owns 87,035,376 shares of the medical technology company’s stock worth $7,011,571,000 after buying an additional 83,705,052 shares in the last quarter. Lazard Asset Management LLC increased its position in Medtronic PLC by 1,061.4% in the first quarter. Lazard Asset Management LLC now owns 13,678,772 shares of the medical technology company’s stock worth $1,101,960,000 after purchasing an additional 12,500,992 shares during the last quarter. Vanguard Group Inc. increased its position in Medtronic PLC by 4.5% in the first quarter. Vanguard Group Inc. now owns 102,321,656 shares of the medical technology company’s stock worth $8,243,034,000 after purchasing an additional 4,412,536 shares during the last quarter. Sanders Capital LLC increased its position in Medtronic PLC by 43.7% in the second quarter. Sanders Capital LLC now owns 6,670,948 shares of the medical technology company’s stock worth $651,800,000 after purchasing an additional 2,027,147 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in Medtronic PLC by 3.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 58,646,070 shares of the medical technology company’s stock worth $4,724,526,000 after purchasing an additional 1,729,715 shares during the last quarter. 80.60% of the stock is currently owned by hedge funds and other institutional investors.
In other Medtronic PLC news, CEO Omar Ishrak sold 140,407 shares of Medtronic PLC stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 668,503 shares of the company’s stock, valued at approximately $54,569,899.89. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Bryan C. Hanson sold 16,000 shares of Medtronic PLC stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $78.03, for a total value of $1,248,480.00. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.
Shares of Medtronic PLC (MDT) opened at 78.00 on Wednesday. The stock’s 50 day moving average is $79.61 and its 200-day moving average is $83.24. The stock has a market capitalization of $105.66 billion, a price-to-earnings ratio of 26.25 and a beta of 1.01. Medtronic PLC has a 52 week low of $69.35 and a 52 week high of $89.72.
Medtronic PLC (NYSE:MDT) last released its earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.04. The company had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.44 billion. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. Medtronic PLC’s revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.03 EPS. On average, analysts anticipate that Medtronic PLC will post $4.64 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, September 29th will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.36%. The ex-dividend date is Thursday, September 28th. Medtronic PLC’s dividend payout ratio is currently 61.95%.
Medtronic PLC declared that its board has authorized a stock repurchase plan on Friday, June 23rd that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical technology company to repurchase up to 49% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Several brokerages recently weighed in on MDT. Jefferies Group LLC restated a “buy” rating and issued a $96.00 price target 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 price target on shares of Medtronic PLC in a research report on Monday, October 2nd. 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 analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the company. Medtronic PLC currently has a consensus rating of “Hold” and a consensus target price of $87.88.
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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