Parametric Portfolio Associates LLC Raises Stake in Medtronic PLC (MDT)
Parametric Portfolio Associates LLC boosted its stake in Medtronic PLC (NYSE:MDT) by 14.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,133,384 shares of the medical technology company’s stock after acquiring an additional 272,759 shares during the quarter. Parametric Portfolio Associates LLC owned about 0.16% of Medtronic PLC worth $189,338,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MDT. Roundview Capital LLC raised its position in shares of Medtronic PLC by 12.8% in the 2nd quarter. Roundview Capital LLC now owns 6,901 shares of the medical technology company’s stock valued at $612,000 after purchasing an additional 785 shares in the last quarter. WealthPLAN Partners LLC grew its stake in Medtronic PLC by 2,859.9% during the 2nd quarter. WealthPLAN Partners LLC now owns 26,580 shares of the medical technology company’s stock worth $2,359,000 after buying an additional 25,682 shares during the last quarter. Advisor Group Inc. grew its stake in Medtronic PLC by 21.0% during the 2nd quarter. Advisor Group Inc. now owns 81,884 shares of the medical technology company’s stock worth $7,178,000 after buying an additional 14,218 shares during the last quarter. Cibc World Markets Corp grew its stake in Medtronic PLC by 35.3% during the 2nd quarter. Cibc World Markets Corp now owns 193,428 shares of the medical technology company’s stock worth $17,167,000 after buying an additional 50,467 shares during the last quarter. Finally, Harfst & Associates Inc. grew its stake in shares of Medtronic PLC by 33.1% in the second quarter. Harfst & Associates Inc. now owns 4,675 shares of the medical technology company’s stock worth $414,000 after purchasing an additional 1,162 shares in the last quarter. Hedge funds and other institutional investors own 81.37% of the company’s stock.
Medtronic PLC (NYSE:MDT) opened at $79.33 on Monday. The company has a current ratio of 1.64, a quick ratio of 1.40 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $107,459.70, a P/E ratio of 16.92, a P/E/G ratio of 2.19 and a beta of 1.00. Medtronic PLC has a 52-week low of $69.35 and a 52-week high of $89.72.
Medtronic PLC (NYSE:MDT) last posted its earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 EPS 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 business had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.44 billion. During the same quarter last year, the company earned $1.03 EPS. Medtronic PLC’s revenue was up 3.1% on a year-over-year basis. analysts forecast that Medtronic PLC will post 4.66 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 20th. Shareholders of record on Friday, September 29th were given a $0.46 dividend. The ex-dividend date was Thursday, September 28th. This represents a $1.84 annualized dividend and a yield of 2.32%. Medtronic PLC’s payout ratio is 61.95%.
In other Medtronic PLC news, CEO Omar Ishrak sold 140,407 shares of Medtronic PLC 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 completion of the transaction, the chief executive officer now owns 668,503 shares in the company, valued at approximately $54,569,899.89. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Bryan C. Hanson sold 16,000 shares of Medtronic PLC stock in a transaction on 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.
Several research analysts recently weighed in on the company. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $96.00 target price on shares of Medtronic PLC in a research note on Monday, October 2nd. BidaskClub raised Medtronic PLC from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Jefferies Group LLC reissued a “buy” rating and issued a $96.00 price objective on shares of Medtronic PLC in a research note on Thursday, September 28th. Needham & Company LLC reissued a “buy” rating and set a $94.00 price objective on shares of Medtronic PLC in a report on Thursday. Finally, Zacks Investment Research lowered Medtronic PLC from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $87.88.
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.
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