Medtronic plc (NYSE:MDT) Shares Sold by Appleton Partners Inc. MA

Appleton Partners Inc. MA trimmed its position in shares of Medtronic plc (NYSE:MDTFree Report) by 19.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,310 shares of the medical technology company’s stock after selling 9,228 shares during the period. Appleton Partners Inc. MA’s holdings in Medtronic were worth $3,252,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Morgan Stanley boosted its stake in Medtronic by 9.2% during the 3rd quarter. Morgan Stanley now owns 23,777,808 shares of the medical technology company’s stock valued at $1,863,229,000 after purchasing an additional 1,994,123 shares during the period. Norges Bank bought a new stake in shares of Medtronic during the 4th quarter worth about $1,229,726,000. Northern Trust Corp raised its position in shares of Medtronic by 2.1% during the 3rd quarter. Northern Trust Corp now owns 13,622,933 shares of the medical technology company’s stock worth $1,067,493,000 after buying an additional 285,819 shares in the last quarter. Sanders Capital LLC raised its position in shares of Medtronic by 2.8% during the 4th quarter. Sanders Capital LLC now owns 12,634,161 shares of the medical technology company’s stock worth $1,040,802,000 after buying an additional 346,641 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Medtronic by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,089,400 shares of the medical technology company’s stock worth $893,352,000 after buying an additional 101,111 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Geoffrey Martha sold 19,113 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $83.77, for a total transaction of $1,601,096.01. Following the completion of the sale, the chief executive officer now directly owns 143,348 shares of the company’s stock, valued at approximately $12,008,261.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Geoffrey Martha sold 19,113 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $83.77, for a total transaction of $1,601,096.01. Following the completion of the transaction, the chief executive officer now directly owns 143,348 shares in the company, valued at approximately $12,008,261.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael Marinaro sold 854 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $83.14, for a total transaction of $71,001.56. Following the transaction, the executive vice president now owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $92.00 price target on shares of Medtronic in a research report on Wednesday, June 5th. The Goldman Sachs Group assumed coverage on shares of Medtronic in a research report on Thursday, May 30th. They set a “sell” rating and a $83.00 price target on the stock. Wells Fargo & Company boosted their price target on shares of Medtronic from $102.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, May 24th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Friday, May 24th. Finally, UBS Group boosted their target price on shares of Medtronic from $75.00 to $76.00 and gave the stock a “sell” rating in a report on Friday, May 24th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $93.00.

Get Our Latest Report on Medtronic

Medtronic Stock Down 0.4 %

MDT traded down $0.29 on Tuesday, reaching $79.66. 1,548,842 shares of the company traded hands, compared to its average volume of 6,211,547. The stock’s 50 day moving average price is $81.95 and its 200-day moving average price is $83.51. Medtronic plc has a 52-week low of $68.84 and a 52-week high of $91.00. The company has a market cap of $105.77 billion, a price-to-earnings ratio of 28.95, a PEG ratio of 2.36 and a beta of 0.83. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 1.55.

Medtronic (NYSE:MDTGet Free Report) last announced its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.01. Medtronic had a net margin of 11.36% and a return on equity of 13.47%. The firm had revenue of $8.59 billion for the quarter, compared to the consensus estimate of $8.44 billion. During the same period in the previous year, the firm posted $1.57 earnings per share. The firm’s revenue was up .5% on a year-over-year basis. On average, sell-side analysts expect that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.51%. This is an increase from Medtronic’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Friday, June 28th. Medtronic’s payout ratio is currently 100.36%.

Medtronic Profile

(Free Report)

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.

Featured Stories

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.