Employees Retirement System of Texas boosted its position in Medtronic PLC (NYSE:MDT) by 3.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 458,690 shares of the medical technology company’s stock after buying an additional 13,700 shares during the quarter. Medtronic PLC makes up about 0.6% of Employees Retirement System of Texas’ holdings, making the stock its 29th biggest position. Employees Retirement System of Texas’ holdings in Medtronic PLC were worth $40,709,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Parkside Financial Bank & Trust grew its position in Medtronic PLC by 22.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock worth $102,000 after purchasing an additional 210 shares during the last quarter. BDO Wealth Advisors LLC acquired a new stake in Medtronic PLC in the 2nd quarter worth $103,000. Motco grew its position in Medtronic PLC by 8.7% in the 2nd quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after purchasing an additional 99 shares during the last quarter. Farmers National Bank acquired a new stake in Medtronic PLC in the 1st quarter worth $121,000. Finally, Israel Discount Bank of New York acquired a new stake in Medtronic PLC in the 1st quarter worth $117,000. Institutional investors and hedge funds own 81.37% of the company’s stock.
Medtronic PLC (MDT) opened at $79.26 on Friday. The stock has a market cap of $106,579.22, a P/E ratio of 16.78, a P/E/G ratio of 2.14 and a beta of 1.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.40 and a current ratio of 1.64. Medtronic PLC has a 1-year low of $69.35 and a 1-year high of $89.72.
Medtronic PLC (NYSE:MDT) last issued its quarterly earnings data on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.04. The firm had revenue of $7.39 billion during the quarter, compared to analysts’ expectations of $7.44 billion. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.03 earnings per share. equities analysts forecast that Medtronic PLC will post 4.69 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 20th. Stockholders of record on Friday, September 29th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend was Thursday, September 28th. Medtronic PLC’s dividend payout ratio (DPR) is presently 61.95%.
In other news, EVP Bryan C. Hanson sold 16,000 shares of the business’s 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Omar Ishrak sold 140,407 shares of the business’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the completion of the sale, the chief executive officer now directly owns 668,503 shares in the company, valued at approximately $54,569,899.89. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.
Several brokerages have recently weighed in on MDT. BidaskClub lowered shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Deutsche Bank AG set a $96.00 target price on shares of Medtronic PLC and gave the company a “buy” rating in a research report on Monday, July 31st. Zacks Investment Research lowered shares of Medtronic PLC from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Jefferies Group LLC reiterated a “buy” rating and set a $103.00 target price on shares of Medtronic PLC in a research report on Thursday, August 3rd. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $90.00 target price on shares of Medtronic PLC in a research report on Monday, August 21st. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average 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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