Boston Financial Mangement LLC reduced its stake in shares of Medtronic PLC (NYSE:MDT) by 9.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,900 shares of the medical technology company’s stock after selling 1,525 shares during the quarter. Boston Financial Mangement LLC’s holdings in Medtronic PLC were worth $1,234,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Jackson Grant Investment Advisers Inc. grew its position in Medtronic PLC by 0.3% during the first quarter. Jackson Grant Investment Advisers Inc. now owns 2,920 shares of the medical technology company’s stock worth $235,000 after buying an additional 9 shares during the period. Hudock Capital Group LLC grew its position in Medtronic PLC by 0.6% during the first quarter. Hudock Capital Group LLC now owns 2,184 shares of the medical technology company’s stock worth $175,000 after buying an additional 12 shares during the period. Delta Asset Management LLC TN grew its position in Medtronic PLC by 0.4% during the first quarter. Delta Asset Management LLC TN now owns 3,713 shares of the medical technology company’s stock worth $299,000 after buying an additional 13 shares during the period. Bollard Group LLC grew its position in Medtronic PLC by 0.4% during the second quarter. Bollard Group LLC now owns 3,651 shares of the medical technology company’s stock worth $324,000 after buying an additional 14 shares during the period. Finally, Triangle Securities Wealth Management grew its position in Medtronic PLC by 0.3% during the second quarter. Triangle Securities Wealth Management now owns 4,396 shares of the medical technology company’s stock worth $390,000 after buying an additional 15 shares during the period. Institutional investors own 80.52% of the company’s stock.

Medtronic PLC (MDT) opened at 79.95 on Friday. Medtronic PLC has a 1-year low of $69.35 and a 1-year high of $89.72. The stock has a market cap of $108.88 billion, a P/E ratio of 26.91 and a beta of 1.03. The firm’s 50-day moving average is $82.76 and its 200-day moving average is $83.61.

Medtronic PLC (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 22nd. The medical technology company reported $1.12 EPS for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.04. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. The firm had revenue of $7.39 billion for the quarter, compared to the consensus estimate of $7.44 billion. During the same period in the previous year, the firm posted $1.03 earnings per share. The firm’s revenue was up 3.1% on a year-over-year basis. On average, analysts forecast that Medtronic PLC will post $4.76 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, September 29th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Thursday, September 28th. Medtronic PLC’s payout ratio is presently 61.95%.

Several analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Medtronic PLC from a “sell” rating to a “hold” rating in a research report on Wednesday. BidaskClub lowered shares of Medtronic PLC from a “hold” rating to a “sell” rating in a research report on Saturday, August 26th. UBS AG reiterated an “overweight” rating on shares of Medtronic PLC in a research report on Thursday, August 24th. Jefferies Group LLC lowered their price target on shares of Medtronic PLC from $103.00 to $96.00 and set a “buy” rating on the stock in a research report on Wednesday, August 23rd. Finally, Barclays PLC lowered their price target on shares of Medtronic PLC from $94.00 to $92.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 23rd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $88.78.

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In related news, EVP Bryan C. Hanson sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $88.57, for a total transaction of $1,062,840.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Richard H. Anderson acquired 5,600 shares of the stock in a transaction that occurred on 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 transaction, 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. Insiders own 0.31% of the company’s stock.

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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