Appleton Partners Inc. MA Acquires 291 Shares of Medtronic PLC (NYSE:MDT)

Appleton Partners Inc. MA boosted its holdings in shares of Medtronic PLC (NYSE:MDT) by 0.4% during the third quarter, HoldingsChannel reports. The fund owned 79,511 shares of the medical technology company’s stock after purchasing an additional 291 shares during the quarter. Medtronic comprises 1.0% of Appleton Partners Inc. MA’s holdings, making the stock its 26th largest position. Appleton Partners Inc. MA’s holdings in Medtronic were worth $8,636,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Neville Rodie & Shaw Inc. grew its holdings in shares of Medtronic by 7.1% during the 2nd quarter. Neville Rodie & Shaw Inc. now owns 20,145 shares of the medical technology company’s stock valued at $1,962,000 after acquiring an additional 1,340 shares in the last quarter. South Texas Money Management Ltd. grew its holdings in shares of Medtronic by 10.6% during the 2nd quarter. South Texas Money Management Ltd. now owns 387,727 shares of the medical technology company’s stock valued at $37,761,000 after acquiring an additional 37,008 shares in the last quarter. Fulton Bank N.A. grew its holdings in shares of Medtronic by 1.0% during the 2nd quarter. Fulton Bank N.A. now owns 26,063 shares of the medical technology company’s stock valued at $2,539,000 after acquiring an additional 249 shares in the last quarter. Rockland Trust Co. purchased a new position in shares of Medtronic during the 2nd quarter valued at $651,000. Finally, BigSur Wealth Management LLC grew its holdings in shares of Medtronic by 5.6% during the 2nd quarter. BigSur Wealth Management LLC now owns 4,499 shares of the medical technology company’s stock valued at $441,000 after acquiring an additional 239 shares in the last quarter. 81.18% of the stock is currently owned by institutional investors.

MDT has been the topic of several research analyst reports. Needham & Company LLC restated a “buy” rating and set a $133.00 price target on shares of Medtronic in a report on Wednesday, August 28th. Morgan Stanley upped their price objective on shares of Medtronic from $105.00 to $111.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 21st. Deutsche Bank upped their price objective on shares of Medtronic from $100.00 to $111.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Raymond James upped their price objective on shares of Medtronic from $105.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Finally, Oppenheimer upped their price objective on shares of Medtronic from $110.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Medtronic currently has an average rating of “Buy” and an average price target of $114.33.

Shares of NYSE:MDT opened at $106.87 on Thursday. The stock has a market capitalization of $145.67 billion, a PE ratio of 20.47, a P/E/G ratio of 2.67 and a beta of 0.62. Medtronic PLC has a 1 year low of $81.66 and a 1 year high of $112.05. The firm has a fifty day moving average price of $107.79 and a 200 day moving average price of $100.47. The company has a current ratio of 2.67, a quick ratio of 2.20 and a debt-to-equity ratio of 0.49.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.08. The firm had revenue of $7.49 billion during the quarter, compared to analysts’ expectations of $7.40 billion. Medtronic had a net margin of 14.41% and a return on equity of 14.36%. Medtronic’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.17 earnings per share. On average, sell-side analysts forecast that Medtronic PLC will post 5.56 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, September 27th were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend was Thursday, September 26th. Medtronic’s dividend payout ratio is 41.38%.

In other Medtronic news, SVP Richard Kuntz sold 21,425 shares of the business’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $107.51, for a total transaction of $2,303,401.75. Following the completion of the transaction, the senior vice president now owns 78,916 shares of the company’s stock, valued at approximately $8,484,259.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Robert John White sold 52,165 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $109.33, for a total transaction of $5,703,199.45. The disclosure for this sale can be found here. In the last three months, insiders have sold 156,467 shares of company stock valued at $16,900,132. Company insiders own 0.28% of the company’s stock.

About Medtronic

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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