Medtronic PLC (NYSE:MDT) Shares Bought by Park Avenue Securities LLC

Park Avenue Securities LLC grew its position in shares of Medtronic PLC (NYSE:MDT) by 32.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,989 shares of the medical technology company’s stock after purchasing an additional 4,191 shares during the period. Park Avenue Securities LLC’s holdings in Medtronic were worth $1,655,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Comerica Securities Inc. increased its position in shares of Medtronic by 3.8% during the fourth quarter. Comerica Securities Inc. now owns 13,521 shares of the medical technology company’s stock worth $1,237,000 after acquiring an additional 491 shares during the period. Geode Capital Management LLC increased its position in shares of Medtronic by 10.2% during the fourth quarter. Geode Capital Management LLC now owns 16,690,207 shares of the medical technology company’s stock worth $1,515,557,000 after acquiring an additional 1,538,130 shares during the period. Altfest L J & Co. Inc. increased its holdings in Medtronic by 83.9% in the first quarter. Altfest L J & Co. Inc. now owns 16,337 shares of the medical technology company’s stock valued at $825,000 after buying an additional 7,454 shares during the last quarter. Bridge Creek Capital Management LLC increased its holdings in Medtronic by 2.2% in the first quarter. Bridge Creek Capital Management LLC now owns 36,235 shares of the medical technology company’s stock valued at $3,300,000 after buying an additional 770 shares during the last quarter. Finally, Montecito Bank & Trust purchased a new position in Medtronic in the first quarter valued at $430,000. Institutional investors own 80.08% of the company’s stock.

In related news, Director Richard H. Anderson acquired 10,900 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was bought at an average price 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 of the company’s stock, valued at approximately $8,307,868.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Carol A. Surface sold 9,000 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $97.66, for a total transaction of $878,940.00. The disclosure for this sale can be found here. Insiders sold 91,701 shares of company stock valued at $8,917,504 in the last 90 days. 0.28% of the stock is currently owned by insiders.

Several equities analysts recently commented on the company. Needham & Company LLC reissued a “buy” rating on shares of Medtronic in a report on Tuesday, July 23rd. Northland Securities reissued a “hold” rating and issued a $100.00 target price on shares of Medtronic in a report on Thursday, June 20th. Barclays increased their target price on Medtronic from $104.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. UBS Group increased their target price on Medtronic to $112.00 and gave the company a “buy” rating in a report on Friday, June 14th. Finally, Wells Fargo & Co raised Medtronic from a “market perform” rating to an “outperform” rating and increased their target price for the company from $100.00 to $110.00 in a report on Tuesday, June 4th. Seven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $106.05.

NYSE MDT traded up $1.37 during trading hours on Tuesday, hitting $100.88. The company had a trading volume of 2,442,443 shares, compared to its average volume of 4,038,101. The company has a current ratio of 2.59, a quick ratio of 2.15 and a debt-to-equity ratio of 0.49. Medtronic PLC has a 1-year low of $81.66 and a 1-year high of $103.95. The stock has a market cap of $134.18 billion, a P/E ratio of 19.33, a PEG ratio of 2.62 and a beta of 0.67. The firm has a 50 day moving average of $99.86.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $8.12 billion. During the same quarter in the prior year, the firm posted $1.42 earnings per share. Medtronic’s revenue for the quarter was up .0% on a year-over-year basis. On average, sell-side analysts predict that Medtronic PLC will post 5.47 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 8th were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.14%. The ex-dividend date was Friday, July 5th. This is an increase from Medtronic’s previous quarterly dividend of $0.50. Medtronic’s dividend payout ratio is currently 41.38%.

Medtronic Company 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.

Featured Story: Cost of Equity For A Business, Investors

Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic PLC (NYSE:MDT).

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.