Roundview Capital LLC raised its stake in Medtronic PLC (NYSE:MDT) by 53.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,116 shares of the medical technology company’s stock after buying an additional 2,125 shares during the period. Roundview Capital LLC’s holdings in Medtronic PLC were worth $493,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Baystate Wealth Management LLC increased its stake in shares of Medtronic PLC by 40.9% in the first quarter. Baystate Wealth Management LLC now owns 1,959 shares of the medical technology company’s stock valued at $157,000 after buying an additional 569 shares in the last quarter. North Star Investment Management Corp. increased its stake in shares of Medtronic PLC by 4.4% in the first quarter. North Star Investment Management Corp. now owns 1,973 shares of the medical technology company’s stock valued at $159,000 after buying an additional 83 shares in the last quarter. Liberty Capital Management Inc. increased its stake in shares of Medtronic PLC by 45.6% in the first quarter. Liberty Capital Management Inc. now owns 2,111 shares of the medical technology company’s stock valued at $170,000 after buying an additional 661 shares in the last quarter. Hudock Capital Group LLC increased its stake in shares of Medtronic PLC by 0.6% in the first quarter. Hudock Capital Group LLC now owns 2,184 shares of the medical technology company’s stock valued at $175,000 after buying an additional 12 shares in the last quarter. Finally, Patten & Patten Inc. TN purchased a new stake in shares of Medtronic PLC during the first quarter valued at approximately $206,000. Hedge funds and other institutional investors own 83.36% of the company’s stock.
Medtronic PLC (NYSE MDT) opened at 83.71 on Friday. The stock has a 50 day moving average of $86.18 and a 200-day moving average of $82.87. The company has a market capitalization of $113.76 billion, a price-to-earnings ratio of 28.97 and a beta of 1.02. Medtronic PLC has a 52-week low of $69.35 and a 52-week high of $89.72.
Medtronic PLC (NYSE:MDT) last issued its quarterly earnings data on Thursday, May 25th. The medical technology company reported $1.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.02. The business had revenue of $7.92 billion for the quarter, compared to analysts’ expectations of $7.86 billion. Medtronic PLC had a return on equity of 12.72% and a net margin of 13.56%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.27 EPS. On average, equities research analysts anticipate that Medtronic PLC will post $4.81 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.20%. This is a boost from Medtronic PLC’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Wednesday, July 5th. Medtronic PLC’s dividend payout ratio is 63.67%.
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MDT has been the subject of several analyst reports. Deutsche Bank AG set a $96.00 target price on shares of Medtronic PLC and gave the company a “buy” rating in a report on Monday, July 31st. Morgan Stanley increased their target price on shares of Medtronic PLC from $84.00 to $86.00 and gave the company an “equal weight” rating in a report on Tuesday, May 30th. Evercore ISI increased their target price on shares of Medtronic PLC from $88.00 to $88.50 and gave the company an “outperform” rating in a report on Wednesday, April 19th. BidaskClub downgraded shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $95.00 target price (up previously from $91.00) on shares of Medtronic PLC in a report on Thursday, May 25th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $89.84.
In other news, EVP Bryan C. Hanson sold 12,000 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Richard H. Anderson acquired 5,600 shares of the firm’s stock in a transaction dated Wednesday, June 21st. The shares were purchased at an average cost of $88.90 per share, for a total transaction of $497,840.00. Following the completion of the acquisition, the director now directly owns 71,910 shares in the company, valued at $6,392,799. The disclosure for this purchase can be found here. 0.25% of the stock is owned by corporate 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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