PFG Advisors raised its stake in Medtronic PLC (NYSE:MDT) by 2.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,859 shares of the medical technology company’s stock after acquiring an additional 130 shares during the quarter. PFG Advisors’ holdings in Medtronic were worth $601,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MDT. BlackRock Inc. boosted its stake in Medtronic by 7.9% in the first quarter. BlackRock Inc. now owns 106,778,084 shares of the medical technology company’s stock valued at $9,725,349,000 after acquiring an additional 7,856,946 shares during the last quarter. Nordea Investment Management AB boosted its stake in Medtronic by 35.4% in the first quarter. Nordea Investment Management AB now owns 8,622,525 shares of the medical technology company’s stock valued at $785,336,000 after acquiring an additional 2,255,412 shares during the last quarter. Thoroughbred Financial Services LLC boosted its stake in Medtronic by 10,079.7% in the second quarter. Thoroughbred Financial Services LLC now owns 1,044,944 shares of the medical technology company’s stock valued at $104,494,000 after acquiring an additional 1,034,679 shares during the last quarter. Boston Partners boosted its stake in Medtronic by 13.9% in the first quarter. Boston Partners now owns 8,405,239 shares of the medical technology company’s stock valued at $765,549,000 after acquiring an additional 1,028,238 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in Medtronic by 10.3% in the first quarter. California Public Employees Retirement System now owns 4,441,964 shares of the medical technology company’s stock valued at $404,574,000 after acquiring an additional 413,760 shares during the last quarter. Hedge funds and other institutional investors own 80.62% of the company’s stock.

In other news, SVP Bradley E. Lerman sold 6,599 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $102.02, for a total value of $673,229.98. Following the completion of the sale, the senior vice president now owns 105,960 shares of the company’s stock, valued at approximately $10,810,039.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Bradley E. Lerman sold 4,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $100.31, for a total transaction of $401,240.00. Following the completion of the sale, the senior vice president now directly owns 52,906 shares of the company’s stock, valued at approximately $5,307,000.86. The disclosure for this sale can be found here. In the last three months, insiders sold 95,701 shares of company stock valued at $9,318,744. Corporate insiders own 0.28% of the company’s stock.

A number of research firms have weighed in on MDT. Morgan Stanley boosted their target price on shares of Medtronic from $105.00 to $111.00 and gave the company an “equal weight” rating in a research note on Wednesday. ValuEngine lowered shares of Medtronic from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Barclays boosted their price target on shares of Medtronic from $110.00 to $117.00 and gave the company an “overweight” rating in a research report on Wednesday. Stifel Nicolaus boosted their price target on shares of Medtronic from $95.00 to $112.00 and gave the company a “hold” rating in a research report on Wednesday. Finally, Raymond James boosted their price target on shares of Medtronic from $105.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $112.18.

MDT stock traded down $0.29 during midday trading on Thursday, reaching $107.50. The company had a trading volume of 107,484 shares, compared to its average volume of 4,314,171. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.59 and a quick ratio of 2.15. Medtronic PLC has a 1 year low of $81.66 and a 1 year high of $109.70. The company has a market capitalization of $139.72 billion, a P/E ratio of 20.60, a P/E/G ratio of 2.67 and a beta of 0.67. The firm has a 50-day moving average price of $101.30 and a 200-day moving average price of $93.87.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.26 EPS for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.08. Medtronic had a net margin of 15.15% and a return on equity of 14.16%. The business had revenue of $7.49 billion during the quarter, compared to analysts’ expectations of $7.40 billion. During the same quarter in the previous year, the company earned $1.17 EPS. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, equities analysts predict that Medtronic PLC will post 5.57 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 8th were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Friday, July 5th. This is a boost from Medtronic’s previous quarterly dividend of $0.50. Medtronic’s payout ratio is currently 41.38%.

Medtronic Company Profile

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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