Karen L. Parkhill Sells 702 Shares of Medtronic PLC (NYSE:MDT) Stock

Medtronic PLC (NYSE:MDT) CFO Karen L. Parkhill sold 702 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $107.78, for a total value of $75,661.56. Following the completion of the sale, the chief financial officer now directly owns 87,366 shares of the company’s stock, valued at approximately $9,416,307.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of MDT stock traded down $0.08 during trading hours on Wednesday, hitting $107.49. 3,685,569 shares of the company were exchanged, compared to its average volume of 6,011,681. The company has a current ratio of 1.87, a quick ratio of 1.53 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $144.49 billion, a price-to-earnings ratio of 33.06, a P/E/G ratio of 3.41 and a beta of 0.68. The firm has a fifty day simple moving average of $101.92 and a 200 day simple moving average of $96.42. Medtronic PLC has a 52-week low of $72.13 and a 52-week high of $122.15.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 25th. The medical technology company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.41. The business had revenue of $6.51 billion during the quarter, compared to analyst estimates of $5.48 billion. Medtronic had a return on equity of 10.47% and a net margin of 15.80%. Medtronic’s revenue was down 13.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.26 earnings per share. Sell-side analysts anticipate that Medtronic PLC will post 3.96 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 25th will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Thursday, September 24th. Medtronic’s dividend payout ratio (DPR) is currently 50.54%.

A number of equities analysts recently issued reports on the company. Citigroup increased their target price on Medtronic from $108.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, August 26th. Wolfe Research assumed coverage on shares of Medtronic in a research note on Friday, September 11th. They issued a “peer perform” rating and a $115.00 price objective on the stock. BTIG Research boosted their target price on shares of Medtronic from $102.00 to $111.00 and gave the stock a “buy” rating in a research report on Wednesday, August 26th. Cfra raised shares of Medtronic from a “buy” rating to a “strong-buy” rating and dropped their price target for the company from $127.00 to $121.00 in a research report on Thursday, May 21st. Finally, Oppenheimer reiterated a “buy” rating and set a $112.00 price target on shares of Medtronic in a research note on Tuesday, August 25th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $115.75.

A number of institutional investors have recently made changes to their positions in the stock. Nordea Investment Management AB lifted its holdings in Medtronic by 119.7% during the second quarter. Nordea Investment Management AB now owns 19,803,840 shares of the medical technology company’s stock valued at $1,770,662,000 after purchasing an additional 10,788,699 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Medtronic by 4.1% during the 2nd quarter. BlackRock Inc. now owns 111,209,886 shares of the medical technology company’s stock valued at $10,197,948,000 after buying an additional 4,352,426 shares in the last quarter. Two Sigma Advisers LP lifted its stake in shares of Medtronic by 393.8% during the 2nd quarter. Two Sigma Advisers LP now owns 1,574,920 shares of the medical technology company’s stock valued at $144,420,000 after buying an additional 1,255,988 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Medtronic by 25.2% in the 1st quarter. Alliancebernstein L.P. now owns 5,966,013 shares of the medical technology company’s stock worth $538,015,000 after buying an additional 1,200,683 shares during the period. Finally, APG Asset Management N.V. grew its stake in Medtronic by 118.0% in the 1st quarter. APG Asset Management N.V. now owns 2,101,865 shares of the medical technology company’s stock valued at $189,546,000 after buying an additional 1,137,886 shares in the last quarter. Institutional investors and hedge funds own 79.90% of the company’s stock.

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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