Moreno Evelyn V grew its position in Medtronic PLC (NYSE:MDT) by 0.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 80,268 shares of the medical technology company’s stock after purchasing an additional 575 shares during the quarter. Medtronic comprises about 2.4% of Moreno Evelyn V’s portfolio, making the stock its 14th largest holding. Moreno Evelyn V’s holdings in Medtronic were worth $7,817,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Rockefeller Capital Management L.P. raised its holdings in shares of Medtronic by 0.6% during the first quarter. Rockefeller Capital Management L.P. now owns 1,357,738 shares of the medical technology company’s stock worth $123,663,000 after acquiring an additional 7,939 shares during the period. Hayden Royal LLC bought a new position in shares of Medtronic in the 2nd quarter valued at about $275,000. Cim LLC grew its position in shares of Medtronic by 12.9% in the 2nd quarter. Cim LLC now owns 4,189 shares of the medical technology company’s stock valued at $408,000 after acquiring an additional 480 shares during the period. Belpointe Asset Management LLC grew its position in shares of Medtronic by 35.3% in the 1st quarter. Belpointe Asset Management LLC now owns 4,581 shares of the medical technology company’s stock valued at $417,000 after acquiring an additional 1,196 shares during the period. Finally, Aviva PLC grew its position in shares of Medtronic by 14.9% in the 2nd quarter. Aviva PLC now owns 920,341 shares of the medical technology company’s stock valued at $89,632,000 after acquiring an additional 119,018 shares during the period. Institutional investors own 80.65% of the company’s stock.

Several analysts have weighed in on MDT shares. Barclays lifted their price objective on shares of Medtronic from $104.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Zacks Investment Research upgraded shares of Medtronic from a “sell” rating to a “hold” rating in a research note on Monday, May 20th. Oppenheimer set a $110.00 price objective on shares of Medtronic and gave the stock a “buy” rating in a research note on Monday, July 15th. Northland Securities reiterated a “hold” rating and issued a $100.00 price objective on shares of Medtronic in a research note on Thursday, June 20th. Finally, Royal Bank of Canada dropped their price objective on shares of Medtronic to $100.00 and set an “outperform” rating for the company in a research note on Tuesday, May 28th. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $106.41.

In related news, SVP Carol A. Surface sold 9,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $97.66, for a total transaction of $878,940.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Bradley E. Lerman sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $100.31, for a total transaction of $401,240.00. Following the transaction, the senior vice president now owns 52,906 shares of the company’s stock, valued at $5,307,000.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,701 shares of company stock valued at $9,318,744. 0.28% of the stock is owned by corporate insiders.

Shares of NYSE:MDT traded up $0.57 during midday trading on Thursday, hitting $101.50. The stock had a trading volume of 1,685,610 shares, compared to its average volume of 4,206,267. The stock has a 50-day moving average price of $100.37. The company has a market capitalization of $135.66 billion, a P/E ratio of 19.44, a P/E/G ratio of 2.59 and a beta of 0.67. The company has a quick ratio of 2.15, a current ratio of 2.59 and a debt-to-equity ratio of 0.49. Medtronic PLC has a fifty-two week low of $81.66 and a fifty-two week high of $103.95.

Medtronic (NYSE:MDT) last issued its earnings results on Thursday, May 23rd. The medical technology company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.47 by $0.07. The company had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.12 billion. Medtronic had a net margin of 15.15% and a return on equity of 14.16%. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.42 EPS. As a group, equities research analysts expect that Medtronic PLC will post 5.48 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Monday, July 8th were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.13%. This is a boost from Medtronic’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, July 5th. Medtronic’s dividend payout ratio is currently 41.38%.

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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