Stifel Financial Corp Raises Holdings in Medtronic PLC (MDT)

Stifel Financial Corp grew its position in Medtronic PLC (NYSE:MDT) by 8.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,049,727 shares of the medical technology company’s stock after acquiring an additional 82,275 shares during the period. Stifel Financial Corp owned about 0.08% of Medtronic PLC worth $93,197,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Parkside Financial Bank & Trust boosted its holdings in shares of Medtronic PLC by 22.4% in the second quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock valued at $102,000 after acquiring an additional 210 shares in the last quarter. BDO Wealth Advisors LLC purchased a new stake in shares of Medtronic PLC in the second quarter valued at about $103,000. Motco boosted its holdings in shares of Medtronic PLC by 8.7% in the second quarter. Motco now owns 1,239 shares of the medical technology company’s stock valued at $110,000 after acquiring an additional 99 shares in the last quarter. Israel Discount Bank of New York purchased a new stake in shares of Medtronic PLC in the first quarter valued at about $117,000. Finally, Birch Hill Investment Advisors LLC purchased a new stake in shares of Medtronic PLC in the first quarter valued at about $120,000. 81.37% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Medtronic PLC (NYSE MDT) opened at $79.16 on Wednesday. The stock has a market cap of $107,283.60, a P/E ratio of 16.89, a price-to-earnings-growth ratio of 2.15 and a beta of 1.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.40 and a current ratio of 1.64. Medtronic PLC has a 52 week low of $69.35 and a 52 week high of $89.72.

Medtronic PLC (NYSE:MDT) last announced its earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.04. The business had revenue of $7.39 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 earnings per share. sell-side analysts predict that Medtronic PLC will post 4.7 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 20th. Stockholders of record on Friday, September 29th were paid a $0.46 dividend. The ex-dividend date was Thursday, September 28th. This represents a $1.84 annualized dividend and a dividend yield of 2.32%. Medtronic PLC’s dividend payout ratio (DPR) is presently 61.95%.

In other news, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $78.03, for a total value of $1,248,480.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Omar Ishrak sold 140,407 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the completion of the transaction, the chief executive officer now owns 668,503 shares of the company’s stock, valued at $54,569,899.89. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

MDT has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $94.00 price objective on shares of Medtronic PLC in a report on Thursday, November 9th. BidaskClub downgraded shares of Medtronic PLC from a “hold” rating to a “sell” rating in a report on Saturday, August 26th. Zacks Investment Research downgraded shares of Medtronic PLC from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. Royal Bank Of Canada decreased their price objective on shares of Medtronic PLC from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, October 9th. Finally, SunTrust Banks, Inc. reissued a “buy” rating and set a $96.00 price objective on shares of Medtronic PLC in a report on Friday, November 3rd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $87.88.

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.

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Institutional Ownership by Quarter for Medtronic PLC (NYSE:MDT)

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