Community Bank N.A. Increases Stock Position in Medtronic PLC (NYSE:MDT)

Community Bank N.A. boosted its stake in shares of Medtronic PLC (NYSE:MDT) by 84.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,194 shares of the medical technology company’s stock after buying an additional 3,742 shares during the quarter. Community Bank N.A.’s holdings in Medtronic were worth $798,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Regal Investment Advisors LLC lifted its position in shares of Medtronic by 10.2% during the second quarter. Regal Investment Advisors LLC now owns 44,206 shares of the medical technology company’s stock worth $4,305,000 after purchasing an additional 4,088 shares in the last quarter. First Bank & Trust lifted its position in shares of Medtronic by 313.3% during the second quarter. First Bank & Trust now owns 806 shares of the medical technology company’s stock worth $78,000 after purchasing an additional 611 shares in the last quarter. KMG Fiduciary Partners LLC lifted its position in shares of Medtronic by 7.3% during the second quarter. KMG Fiduciary Partners LLC now owns 3,875 shares of the medical technology company’s stock worth $377,000 after purchasing an additional 265 shares in the last quarter. SNS Financial Group LLC lifted its position in shares of Medtronic by 36.9% during the second quarter. SNS Financial Group LLC now owns 12,673 shares of the medical technology company’s stock worth $1,234,000 after purchasing an additional 3,415 shares in the last quarter. Finally, PGGM Investments lifted its position in shares of Medtronic by 7.6% during the second quarter. PGGM Investments now owns 597,262 shares of the medical technology company’s stock worth $58,167,000 after purchasing an additional 42,000 shares in the last quarter. 80.08% of the stock is owned by institutional investors.

Shares of NYSE:MDT opened at $101.24 on Wednesday. The company has a 50 day moving average price of $99.93. The firm has a market capitalization of $137.24 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 2.62 and a beta of 0.67. Medtronic PLC has a fifty-two week low of $81.66 and a fifty-two week high of $103.95. 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 (NYSE:MDT) last issued its earnings results on Thursday, May 23rd. The medical technology company reported $1.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.07. The firm had revenue of $8.15 billion for the quarter, compared to analysts’ expectations of $8.12 billion. Medtronic had a net margin of 15.15% and a return on equity of 14.16%. The firm’s revenue was up .0% compared to the same quarter last year. During the same quarter last year, the company earned $1.42 earnings per share. On average, research analysts predict that Medtronic PLC will post 5.47 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Monday, July 8th were issued a $0.54 dividend. This is a boost from Medtronic’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, July 5th. This represents a $2.16 annualized dividend and a yield of 2.13%. Medtronic’s dividend payout ratio (DPR) is 41.38%.

In other news, Director Richard H. Anderson bought 10,900 shares of Medtronic stock in a transaction that occurred on Friday, May 24th. The shares were purchased at an average price of $92.40 per share, with a total value of $1,007,160.00. Following the completion of the acquisition, the director now directly owns 89,912 shares in the company, valued at $8,307,868.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Geoffrey Martha sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $96.05, for a total transaction of $1,056,550.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,701 shares of company stock worth $9,318,744. 0.28% of the stock is owned by corporate insiders.

Several analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Medtronic from a “sell” rating to a “hold” rating in a research report on Monday, May 20th. ValuEngine cut shares of Medtronic from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Barclays increased their price target on shares of Medtronic from $104.00 to $110.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Royal Bank of Canada reduced their price target on shares of Medtronic to $100.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 28th. Finally, UBS Group increased their price target on shares of Medtronic to $112.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Medtronic has an average rating of “Buy” and an average price target of $106.05.

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.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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