Bank of Nova Scotia Trust Co. bought a new position in shares of Medtronic plc. (NYSE:MDT) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 39,704 shares of the medical technology company’s stock, valued at approximately $3,088,000.
Several other large investors have also recently modified their holdings of the company. Hudock Capital Group LLC grew its holdings in shares of Medtronic by 0.5% during the 2nd quarter. Hudock Capital Group LLC now owns 2,195 shares of the medical technology company’s stock worth $194,000 after purchasing an additional 11 shares during the period. IFC Holdings Incorporated FL grew its holdings in shares of Medtronic by 0.3% during the 2nd quarter. IFC Holdings Incorporated FL now owns 5,673 shares of the medical technology company’s stock worth $501,000 after purchasing an additional 17 shares during the period. Arcus Capital Partners LLC grew its holdings in shares of Medtronic by 0.8% during the 2nd quarter. Arcus Capital Partners LLC now owns 3,249 shares of the medical technology company’s stock worth $288,000 after purchasing an additional 25 shares during the period. Hanson McClain Inc. grew its holdings in shares of Medtronic by 0.5% during the 2nd quarter. Hanson McClain Inc. now owns 7,281 shares of the medical technology company’s stock worth $646,000 after purchasing an additional 35 shares during the period. Finally, Fiera Capital Corp grew its holdings in shares of Medtronic by 0.5% during the 2nd quarter. Fiera Capital Corp now owns 6,832 shares of the medical technology company’s stock worth $606,000 after purchasing an additional 37 shares during the period. Institutional investors and hedge funds own 81.72% of the company’s stock.
In related news, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $78.03, for a total transaction of $1,248,480.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Hooman Hakami sold 26,158 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $85.00, for a total value of $2,223,430.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,158 shares of company stock worth $6,061,350. Corporate insiders own 0.31% of the company’s stock.
Shares of Medtronic plc. (MDT) opened at $85.88 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.05 and a current ratio of 2.40. The stock has a market capitalization of $115,740.00, a P/E ratio of 23.59, a P/E/G ratio of 2.35 and a beta of 0.99. Medtronic plc. has a 52-week low of $73.38 and a 52-week high of $89.72.
Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.08. The business had revenue of $7.05 billion for the quarter, compared to analyst estimates of $7.05 billion. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The business’s revenue was down 4.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.12 EPS. research analysts predict that Medtronic plc. will post 4.77 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Friday, December 29th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Thursday, December 28th. Medtronic’s dividend payout ratio is currently 50.55%.
A number of analysts have recently issued reports on MDT shares. Zacks Investment Research cut Medtronic from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. Jefferies Group reiterated a “buy” rating and set a $96.00 target price on shares of Medtronic in a report on Thursday, September 28th. SunTrust Banks reiterated a “buy” rating and set a $96.00 target price on shares of Medtronic in a report on Monday, October 2nd. Wells Fargo & Co cut Medtronic from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $93.00 to $83.00 in a report on Monday, October 9th. Finally, Royal Bank of Canada decreased their target price on Medtronic from $90.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $89.65.
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Medtronic Public Limited Company (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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