Captrust Financial Advisors Has $2.07 Million Stock Position in Medtronic PLC (NYSE:MDT)

Captrust Financial Advisors raised its holdings in shares of Medtronic PLC (NYSE:MDT) by 10.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,257 shares of the medical technology company’s stock after buying an additional 2,028 shares during the quarter. Captrust Financial Advisors’ holdings in Medtronic were worth $2,070,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also bought and sold shares of the stock. BlackRock Inc. raised its position in shares of Medtronic by 7.9% in the 1st quarter. BlackRock Inc. now owns 106,778,084 shares of the medical technology company’s stock worth $9,725,349,000 after acquiring an additional 7,856,946 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in Medtronic by 9.4% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,499,865 shares of the medical technology company’s stock valued at $1,412,142,000 after buying an additional 1,251,830 shares in the last quarter. Wells Fargo & Company MN increased its position in Medtronic by 4.6% during the 2nd quarter. Wells Fargo & Company MN now owns 14,350,496 shares of the medical technology company’s stock valued at $1,397,595,000 after buying an additional 635,871 shares in the last quarter. Nordea Investment Management AB increased its position in Medtronic by 35.4% during the 1st quarter. Nordea Investment Management AB now owns 8,622,525 shares of the medical technology company’s stock valued at $785,336,000 after buying an additional 2,255,412 shares in the last quarter. Finally, Boston Partners increased its position in Medtronic by 13.9% during the 1st quarter. Boston Partners now owns 8,405,239 shares of the medical technology company’s stock valued at $765,549,000 after buying an additional 1,028,238 shares in the last quarter. Institutional investors and hedge funds own 81.03% of the company’s stock.

Shares of NYSE:MDT opened at $107.32 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.67 and a quick ratio of 2.20. The firm has a market capitalization of $144.39 billion, a PE ratio of 20.56, a price-to-earnings-growth ratio of 2.65 and a beta of 0.65. The business has a 50 day simple moving average of $106.92 and a two-hundred day simple moving average of $97.00. Medtronic PLC has a 1 year low of $81.66 and a 1 year high of $112.05.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.08. The firm had revenue of $7.49 billion during the quarter, compared to analyst estimates of $7.40 billion. Medtronic had a return on equity of 14.36% and a net margin of 14.41%. Medtronic’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.17 earnings per share. Equities research analysts expect that Medtronic PLC will post 5.56 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Friday, September 27th will be 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 of this dividend is Thursday, September 26th. Medtronic’s dividend payout ratio (DPR) is 41.38%.

In other news, SVP Richard Kuntz sold 3,438 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $101.12, for a total transaction of $347,650.56. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Hooman Hakami sold 82,877 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $107.31, for a total transaction of $8,893,530.87. Following the completion of the sale, the executive vice president now directly owns 30,761 shares in the company, valued at $3,300,962.91. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 96,914 shares of company stock worth $10,315,651. Insiders own 0.28% of the company’s stock.

A number of research analysts recently weighed in on the company. Bank of America set a $118.00 price objective on Medtronic and gave the company a “buy” rating in a research report on Wednesday, August 21st. Morgan Stanley raised their price target on Medtronic from $105.00 to $111.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 21st. BTIG Research raised their price target on Medtronic to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Wells Fargo & Co raised their price target on Medtronic from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. Finally, Northland Securities reaffirmed a “hold” rating and issued a $100.00 target price on shares of Medtronic in a report on Wednesday, August 21st. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $114.15.

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.

Further Reading: Why are percentage gainers important?

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply