HealthCor Management L.P. Sells 45,600 Shares of Medtronic PLC (MDT)
HealthCor Management L.P. reduced its stake in shares of Medtronic PLC (NYSE:MDT) by 21.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 167,430 shares of the medical technology company’s stock after selling 45,600 shares during the period. HealthCor Management L.P.’s holdings in Medtronic PLC were worth $14,859,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently modified their holdings of the company. Parkside Financial Bank & Trust boosted its stake in shares of 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 buying an additional 210 shares during the last quarter. BDO Wealth Advisors LLC purchased a new position in shares of Medtronic PLC in the 2nd quarter worth approximately $103,000. Motco boosted its stake in shares of 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 buying an additional 99 shares during the last quarter. Farmers National Bank purchased a new position in shares of Medtronic PLC in the 1st quarter worth approximately $121,000. Finally, Israel Discount Bank of New York purchased a new position in shares of Medtronic PLC in the 1st quarter worth approximately $117,000. 81.37% of the stock is owned by hedge funds and other institutional investors.
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In related news, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction on Monday, October 16th. The stock was sold at an average price of $78.03, for a total value of $1,248,480.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Omar Ishrak sold 140,407 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $81.63, for a total value of $11,461,423.41. Following the completion of the transaction, 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. Corporate insiders own 0.31% of the company’s stock.
A number of equities analysts have recently weighed in on MDT shares. BidaskClub downgraded Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Deutsche Bank AG set a $96.00 target price on Medtronic PLC and gave the stock a “buy” rating in a research note on Monday, July 31st. Zacks Investment Research downgraded Medtronic PLC from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Jefferies Group LLC restated a “buy” rating and issued a $103.00 target price on shares of Medtronic PLC in a research note on Thursday, August 3rd. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $90.00 price objective on shares of Medtronic PLC in a research note on Monday, August 21st. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company’s stock. Medtronic PLC presently has an average rating of “Hold” and an average price target of $87.88.
Medtronic PLC (NYSE:MDT) opened at $78.68 on Thursday. The firm has a market cap of $107,229.42, a price-to-earnings ratio of 16.88, a PEG ratio of 2.16 and a beta of 1.00. Medtronic PLC has a 1-year low of $69.35 and a 1-year high of $89.72. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.64 and a quick ratio of 1.40.
Medtronic PLC (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.04. The firm had revenue of $7.39 billion for 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 quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 earnings per share. research analysts expect that Medtronic PLC will post 4.7 EPS for the current year.
The company 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. The ex-dividend date was Thursday, September 28th. This represents a $1.84 annualized dividend and a dividend yield of 2.34%. Medtronic PLC’s payout ratio is currently 61.95%.
Medtronic PLC 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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