United Services Automobile Association raised its stake in shares of Medtronic PLC (NYSE:MDT) by 0.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,555,897 shares of the medical technology company’s stock after buying an additional 12,466 shares during the period. Medtronic PLC accounts for about 0.6% of United Services Automobile Association’s holdings, making the stock its 29th largest position. United Services Automobile Association owned 0.19% of Medtronic PLC worth $205,903,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Quadrature Capital Ltd acquired a new position in shares of Medtronic PLC during the fourth quarter valued at about $513,000. Macquarie Group Ltd. raised its position in shares of Medtronic PLC by 41.2% in the fourth quarter. Macquarie Group Ltd. now owns 452,515 shares of the medical technology company’s stock valued at $32,233,000 after buying an additional 132,006 shares during the last quarter. Burns J W & Co. Inc. NY raised its position in shares of Medtronic PLC by 0.8% in the first quarter. Burns J W & Co. Inc. NY now owns 8,738 shares of the medical technology company’s stock valued at $704,000 after buying an additional 66 shares during the last quarter. Confluence Investment Management LLC raised its position in shares of Medtronic PLC by 32.9% in the first quarter. Confluence Investment Management LLC now owns 185,877 shares of the medical technology company’s stock valued at $14,974,000 after buying an additional 46,056 shares during the last quarter. Finally, Osborn Williams & Donohoe LLC raised its position in shares of Medtronic PLC by 11.5% in the first quarter. Osborn Williams & Donohoe LLC now owns 31,357 shares of the medical technology company’s stock valued at $2,526,000 after buying an additional 3,231 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.
Medtronic PLC (NYSE MDT) opened at 83.68 on Friday. Medtronic PLC has a 52 week low of $69.35 and a 52 week high of $89.72. The firm has a market capitalization of $113.72 billion, a P/E ratio of 28.96 and a beta of 1.02. The stock has a 50 day moving average price of $87.24 and a 200-day moving average price of $82.55.
Medtronic PLC (NYSE:MDT) last announced its quarterly earnings data on Thursday, May 25th. The medical technology company reported $1.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.02. Medtronic PLC had a return on equity of 12.72% and a net margin of 13.56%. The firm had revenue of $7.92 billion for the quarter, compared to analysts’ expectations of $7.86 billion. During the same period last year, the firm earned $1.27 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. Analysts anticipate that Medtronic PLC will post $4.81 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were paid a dividend of $0.46 per share. This is a boost from Medtronic PLC’s previous quarterly dividend of $0.43. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend was Wednesday, July 5th. Medtronic PLC’s dividend payout ratio (DPR) is 63.67%.
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Several equities analysts have recently issued reports on MDT shares. Royal Bank Of Canada reiterated a “buy” rating and issued a $85.00 price target on shares of Medtronic PLC in a research note on Tuesday, April 18th. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Medtronic PLC in a research note on Tuesday, April 18th. Evercore ISI lifted their price target on Medtronic PLC from $88.00 to $88.50 and gave the company an “outperform” rating in a research note on Wednesday, April 19th. Northland Securities reiterated a “hold” rating and issued a $80.00 price target on shares of Medtronic PLC in a research note on Thursday, April 20th. Finally, Goldman Sachs Group, Inc. (The) started coverage on Medtronic PLC in a research note on Tuesday, May 16th. They issued a “neutral” rating and a $87.00 price target on the stock. Two analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $89.84.
In other news, EVP Bryan C. Hanson sold 12,000 shares of the firm’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $88.57, for a total transaction of $1,062,840.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard H. Anderson acquired 5,600 shares of Medtronic PLC stock in a transaction dated Wednesday, June 21st. The shares were bought at an average cost of $88.90 per share, for a total transaction of $497,840.00. Following the completion of the purchase, the director now directly owns 71,910 shares of the company’s stock, valued at approximately $6,392,799. The disclosure for this purchase can be found here. 0.25% of the stock is currently owned by company insiders.
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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