Medtronic Inc. (NYSE:mdt) announced a quarterly dividend on Monday, August 22nd. Stockholders of record on Thursday, September 29th will be given a dividend of 0.43 per share by the medical technology company on Friday, October 21st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Tuesday, September 27th.

Medtronic (NYSE:MDT) opened at 87.14 on Thursday. Medtronic has a one year low of $63.98 and a one year high of $89.27. The company has a 50 day moving average of $86.71 and a 200-day moving average of $82.78. The stock has a market capitalization of $120.42 billion, a P/E ratio of 33.91 and a beta of 0.88.

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

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In other Medtronic news, Director Kendall J. Powell sold 7,907 shares of the stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $85.45, for a total value of $675,653.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Omar Ishrak sold 61,925 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 565,916 shares of the company’s stock, valued at approximately $48,063,245.88. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Nations Financial Group Inc. IA ADV increased its position in shares of Medtronic by 0.9% in the second quarter. Nations Financial Group Inc. IA ADV now owns 4,524 shares of the medical technology company’s stock valued at $393,000 after buying an additional 42 shares during the last quarter. Vaughan David Investments Inc. IL increased its position in shares of Medtronic by 0.6% in the second quarter. Vaughan David Investments Inc. IL now owns 7,762 shares of the medical technology company’s stock valued at $674,000 after buying an additional 47 shares during the last quarter. Peapack Gladstone Financial Corp increased its position in shares of Medtronic by 0.4% in the second quarter. Peapack Gladstone Financial Corp now owns 14,679 shares of the medical technology company’s stock valued at $1,274,000 after buying an additional 60 shares during the last quarter. Mycio Wealth Partners LLC increased its position in shares of Medtronic by 4.4% in the second quarter. Mycio Wealth Partners LLC now owns 1,558 shares of the medical technology company’s stock valued at $135,000 after buying an additional 65 shares during the last quarter. Finally, National Asset Management Inc. increased its position in shares of Medtronic by 2.3% in the second quarter. National Asset Management Inc. now owns 11,893 shares of the medical technology company’s stock valued at $1,035,000 after buying an additional 273 shares during the last quarter. Institutional investors and hedge funds own 83.11% of the company’s stock.

Several research firms recently commented on MDT. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Medtronic in a research report on Wednesday, July 6th. Argus reiterated a “hold” rating on shares of Medtronic in a research report on Monday, June 20th. Zacks Investment Research upgraded shares of Medtronic from a “hold” rating to a “buy” rating and set a $97.00 target price on the stock in a research report on Tuesday, August 9th. Credit Suisse Group AG reiterated an “outperform” rating and set a $92.00 target price on shares of Medtronic in a research report on Thursday, August 25th. Finally, Guggenheim began coverage on shares of Medtronic in a research report on Wednesday, June 8th. They set a “neutral” rating on the stock. Six investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $90.12.

About Medtronic

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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