Medtronic PLC (MDT) Holdings Increased by Evergreen Capital Management LLC

Evergreen Capital Management LLC grew its holdings in Medtronic PLC (NYSE:MDT) by 6.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,612 shares of the medical technology company’s stock after purchasing an additional 2,413 shares during the period. Evergreen Capital Management LLC’s holdings in Medtronic PLC were worth $3,338,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Dupont Capital Management Corp increased its stake in Medtronic PLC by 28.8% in the second quarter. Dupont Capital Management Corp now owns 74,052 shares of the medical technology company’s stock worth $6,572,000 after purchasing an additional 16,562 shares during the period. RMB Capital Management LLC purchased a new stake in Medtronic PLC in the first quarter worth $4,576,000. Lazard Asset Management LLC increased its stake 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 period. WealthTrust Arizona LLC increased its stake in Medtronic PLC by 9.7% in the second quarter. WealthTrust Arizona LLC now owns 4,994 shares of the medical technology company’s stock worth $443,000 after purchasing an additional 441 shares during the period. Finally, Geode Capital Management LLC increased its stake in Medtronic PLC by 7.3% in the first quarter. Geode Capital Management LLC now owns 13,308,812 shares of the medical technology company’s stock worth $1,070,622,000 after purchasing an additional 906,581 shares during the period. Institutional investors and hedge funds own 80.60% of the company’s stock.

A number of analysts have weighed in on the company. Jefferies Group LLC reiterated a “buy” rating and issued a $96.00 target price on shares of Medtronic PLC in a research note on Thursday, September 28th. William Blair reiterated an “outperform” rating on shares of Medtronic PLC in a research note on Thursday, July 6th. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $96.00 target price on shares of Medtronic PLC in a research note on Monday, October 2nd. Zacks Investment Research lowered Medtronic PLC from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Finally, BidaskClub lowered Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $87.88.

WARNING: “Medtronic PLC (MDT) Holdings Increased by Evergreen Capital Management LLC” was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this news story on another website, it was stolen and republished in violation of US & international copyright & trademark laws. The correct version of this news story can be accessed at https://ledgergazette.com/2017/10/20/medtronic-plc-mdt-holdings-increased-by-evergreen-capital-management-llc.html.

In other news, CEO Omar Ishrak sold 140,407 shares of the 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 transaction, the chief executive officer now owns 668,503 shares in the company, valued at approximately $54,569,899.89. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Bryan C. Hanson sold 16,000 shares of the 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. Corporate insiders own 0.31% of the company’s stock.

Shares of Medtronic PLC (MDT) opened at 78.48 on Friday. Medtronic PLC has a one year low of $69.35 and a one year high of $89.72. The firm has a market cap of $106.31 billion, a P/E ratio of 26.42 and a beta of 1.01. The firm has a 50-day moving average price of $79.44 and a 200 day moving average price of $83.13.

Medtronic PLC (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 22nd. The medical technology company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $7.44 billion. During the same quarter in the prior year, the business posted $1.03 EPS. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, analysts forecast that Medtronic PLC will post $4.63 earnings per share for the current fiscal year.

Medtronic PLC declared that its board has approved a share repurchase plan on Friday, June 23rd that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the medical technology company to reacquire up to 49% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board belie

Other hedge funds have also added to or reduced their stakes in the company. Dupont Capital Management Corp increased its stake in Medtronic PLC by 28.8% in the second quarter. Dupont Capital Management Corp now owns 74,052 shares of the medical technology company’s stock worth $6,572,000 after purchasing an additional 16,562 shares during the period. RMB Capital Management LLC purchased a new stake in Medtronic PLC in the first quarter worth $4,576,000. Lazard Asset Management LLC increased its stake 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 period. WealthTrust Arizona LLC increased its stake in Medtronic PLC by 9.7% in the second quarter. WealthTrust Arizona LLC now owns 4,994 shares of the medical technology company’s stock worth $443,000 after purchasing an additional 441 shares during the period. Finally, Geode Capital Management LLC increased its stake in Medtronic PLC by 7.3% in the first quarter. Geode Capital Management LLC now owns 13,308,812 shares of the medical technology company’s stock worth $1,070,622,000 after purchasing an additional 906,581 shares during the period. Institutional investors and hedge funds own 80.60% of the company’s stock.

A number of analysts have weighed in on the company. Jefferies Group LLC reiterated a “buy” rating and issued a $96.00 target price on shares of Medtronic PLC in a research note on Thursday, September 28th. William Blair reiterated an “outperform” rating on shares of Medtronic PLC in a research note on Thursday, July 6th. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $96.00 target price on shares of Medtronic PLC in a research note on Monday, October 2nd. Zacks Investment Research lowered Medtronic PLC from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Finally, BidaskClub lowered Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $87.88.

WARNING: “Medtronic PLC (MDT) Holdings Increased by Evergreen Capital Management LLC” was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this news story on another website, it was stolen and republished in violation of US & international copyright & trademark laws. The correct version of this news story can be accessed at https://ledgergazette.com/2017/10/20/medtronic-plc-mdt-holdings-increased-by-evergreen-capital-management-llc.html.

In other news, CEO Omar Ishrak sold 140,407 shares of the 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 transaction, the chief executive officer now owns 668,503 shares in the company, valued at approximately $54,569,899.89. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Bryan C. Hanson sold 16,000 shares of the 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. Corporate insiders own 0.31% of the company’s stock.

Shares of Medtronic PLC (MDT) opened at 78.48 on Friday. Medtronic PLC has a one year low of $69.35 and a one year high of $89.72. The firm has a market cap of $106.31 billion, a P/E ratio of 26.42 and a beta of 1.01. The firm has a 50-day moving average price of $79.44 and a 200 day moving average price of $83.13.

Medtronic PLC (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 22nd. The medical technology company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $7.44 billion. During the same quarter in the prior year, the business posted $1.03 EPS. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, analysts forecast that Medtronic PLC will post $4.63 earnings per share for the current fiscal year.

Medtronic PLC declared that its board has approved a share repurchase plan on Friday, June 23rd that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the medical technology company to reacquire up to 49% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, September 29th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.34%. Medtronic PLC’s payout ratio is currently 61.95%.

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.

Institutional Ownership by Quarter for Medtronic PLC (NYSE:MDT)

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