Medtronic PLC (NYSE:MDT) Shares Acquired by Telos Capital Management Inc.

Telos Capital Management Inc. lifted its position in shares of Medtronic PLC (NYSE:MDT) by 2.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,439 shares of the medical technology company’s stock after buying an additional 2,016 shares during the period. Medtronic makes up approximately 2.0% of Telos Capital Management Inc.’s portfolio, making the stock its 7th largest position. Telos Capital Management Inc.’s holdings in Medtronic were worth $6,958,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cornerstone Advisors Inc. boosted its position in Medtronic by 8.1% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,621 shares of the medical technology company’s stock valued at $158,000 after buying an additional 122 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its position in Medtronic by 3.1% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 4,129 shares of the medical technology company’s stock valued at $376,000 after buying an additional 126 shares during the period. Hanson & Doremus Investment Management boosted its position in Medtronic by 0.9% in the 1st quarter. Hanson & Doremus Investment Management now owns 14,416 shares of the medical technology company’s stock valued at $1,313,000 after buying an additional 128 shares during the period. Parkside Financial Bank & Trust boosted its position in Medtronic by 9.8% in the 1st quarter. Parkside Financial Bank & Trust now owns 1,432 shares of the medical technology company’s stock valued at $131,000 after buying an additional 128 shares during the period. Finally, Triangle Securities Wealth Management boosted its position in Medtronic by 1.1% in the 1st quarter. Triangle Securities Wealth Management now owns 12,056 shares of the medical technology company’s stock valued at $1,098,000 after buying an additional 134 shares during the period. Institutional investors and hedge funds own 80.00% of the company’s stock.

In other news, Director Richard H. Anderson purchased 10,900 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were acquired at an average cost of $92.40 per share, for a total transaction of $1,007,160.00. Following the completion of the purchase, the director now directly owns 89,912 shares in the company, valued at approximately $8,307,868.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Richard Kuntz sold 3,438 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $101.12, for a total transaction of $347,650.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,102 shares of company stock worth $8,244,274. Company insiders own 0.28% of the company’s stock.

NYSE MDT traded down $1.50 during trading on Wednesday, reaching $102.25. The company’s stock had a trading volume of 227,729 shares, compared to its average volume of 3,511,845. The company has a current ratio of 2.59, a quick ratio of 2.15 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $138.97 billion, a price-to-earnings ratio of 19.69, a price-to-earnings-growth ratio of 2.63 and a beta of 0.68. Medtronic PLC has a twelve month low of $81.66 and a twelve month high of $103.87. The business’s fifty day moving average is $99.32.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.07. Medtronic had a net margin of 15.15% and a return on equity of 14.16%. The company had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.12 billion. During the same period in the previous year, the business posted $1.42 earnings per share. Medtronic’s quarterly revenue was up .0% on a year-over-year basis. On average, equities analysts predict that Medtronic PLC will post 5.47 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Monday, July 8th were paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.11%. This is a positive change from Medtronic’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, July 5th. Medtronic’s payout ratio is 41.38%.

Several equities analysts have commented on the stock. Royal Bank of Canada decreased their price target on shares of Medtronic to $100.00 and set an “outperform” rating for the company in a research report on Tuesday, May 28th. Oppenheimer set a $110.00 price target on shares of Medtronic and gave the company a “buy” rating in a research report on Monday, July 15th. Wells Fargo & Co raised shares of Medtronic from a “market perform” rating to an “outperform” rating and raised their price target for the company from $100.00 to $110.00 in a research report on Tuesday, June 4th. Zacks Investment Research raised shares of Medtronic from a “sell” rating to a “hold” rating in a research report on Monday, May 20th. Finally, Northland Securities reissued a “hold” rating and issued a $100.00 price target on shares of Medtronic in a research report on Thursday, June 20th. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Medtronic currently has a consensus rating of “Buy” and an average price target of $106.05.

Medtronic 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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