Trading Report: The Medtronic PLC (MDT) Position Increased by Whittier Trust Co. of Nevada Inc.

The Medtronic PLC (MDT) Position Increased by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. increased its position in Medtronic PLC (NYSE:MDT) by 0.3% during the second quarter, Holdings Channel reports. The fund owned 18,122 shares of the medical technology company’s stock after buying an additional 60 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Medtronic PLC were worth $1,572,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of MDT. Gluskin Sheff & Assoc Inc. increased its position in shares of Medtronic PLC by 48.5% in the second quarter. Gluskin Sheff & Assoc Inc. now owns 32,220 shares of the medical technology company’s stock worth $2,796,000 after buying an additional 10,520 shares during the last quarter. Whittier Trust Co. increased its position in shares of Medtronic PLC by 4.9% in the second quarter. Whittier Trust Co. now owns 15,130 shares of the medical technology company’s stock worth $1,313,000 after buying an additional 710 shares during the last quarter. Montag & Caldwell LLC increased its position in shares of Medtronic PLC by 16.3% in the second quarter. Montag & Caldwell LLC now owns 2,318,700 shares of the medical technology company’s stock worth $201,194,000 after buying an additional 324,802 shares during the last quarter. Trillium Asset Management LLC increased its position in shares of Medtronic PLC by 1.4% in the second quarter. Trillium Asset Management LLC now owns 206,224 shares of the medical technology company’s stock worth $17,894,000 after buying an additional 2,747 shares during the last quarter. Finally, Huntington National Bank increased its position in shares of Medtronic PLC by 10.9% in the second quarter. Huntington National Bank now owns 227,847 shares of the medical technology company’s stock worth $19,769,000 after buying an additional 22,309 shares during the last quarter. Hedge funds and other institutional investors own 83.11% of the company’s stock.

Shares of Medtronic PLC (NYSE:MDT) traded up 0.01% on Friday, hitting $85.96. The stock had a trading volume of 3,182,362 shares. Medtronic PLC has a one year low of $71.03 and a one year high of $89.27. The stock has a market capitalization of $118.79 billion, a PE ratio of 33.45 and a beta of 0.88. The firm’s 50 day moving average is $86.45 and its 200-day moving average is $83.62.

Medtronic PLC (NYSE:MDT) last posted its earnings results on Thursday, August 25th. The medical technology company reported $1.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.02. The firm had revenue of $7.20 billion for the quarter, compared to analyst estimates of $7.17 billion. Medtronic PLC had a return on equity of 12.06% and a net margin of 12.70%. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.02 earnings per share. Equities research analysts expect that Medtronic PLC will post $4.66 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Shareholders of record on Thursday, September 29th will be issued a dividend of $0.43 per share. The ex-dividend date is Tuesday, September 27th. This represents a $1.72 annualized dividend and a yield of 2.00%. Medtronic PLC’s dividend payout ratio is presently 66.93%.

A number of research analysts have issued reports on MDT shares. Deutsche Bank AG reiterated a “buy” rating and set a $90.00 price target on shares of Medtronic PLC in a research report on Wednesday, June 15th. SunTrust Banks Inc. boosted their price target on Medtronic PLC from $93.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, June 13th. Credit Suisse Group AG reiterated a “buy” rating and set a $85.00 price target on shares of Medtronic PLC in a research report on Tuesday, June 28th. Evercore ISI reiterated a “buy” rating and set a $86.50 price target on shares of Medtronic PLC in a research report on Monday, June 27th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Medtronic PLC in a research report on Monday, June 27th. Six analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $90.12.

In other Medtronic PLC news, EVP Gary Lee Ellis sold 35,495 shares of Medtronic PLC stock in a transaction dated Wednesday, July 13th. The stock was sold at an average price of $88.64, for a total transaction of $3,146,276.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Omar Ishrak sold 61,925 shares of Medtronic PLC stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $84.93, for a total value of $5,259,290.25. Following the transaction, the chief executive officer now owns 565,916 shares in the company, valued at $48,063,245.88. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

About Medtronic PLC

Medtronic plc (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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