Janney Montgomery Scott LLC boosted its stake in Medtronic plc. (NYSE:MDT) by 1.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 185,738 shares of the medical technology company’s stock after purchasing an additional 2,140 shares during the period. Janney Montgomery Scott LLC’s holdings in Medtronic were worth $14,445,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Medtronic by 2.4% in the second quarter. Vanguard Group Inc. now owns 104,776,036 shares of the medical technology company’s stock worth $9,298,872,000 after acquiring an additional 2,454,380 shares in the last quarter. BlackRock Inc. grew its stake in shares of Medtronic by 2.8% in the second quarter. BlackRock Inc. now owns 89,512,229 shares of the medical technology company’s stock worth $7,944,210,000 after acquiring an additional 2,476,853 shares in the last quarter. Artisan Partners Limited Partnership grew its stake in shares of Medtronic by 1.1% in the third quarter. Artisan Partners Limited Partnership now owns 23,853,034 shares of the medical technology company’s stock worth $1,855,050,000 after acquiring an additional 269,814 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of Medtronic by 43.8% during the 2nd quarter. Lazard Asset Management LLC now owns 19,669,866 shares of the medical technology company’s stock worth $1,745,699,000 after purchasing an additional 5,991,094 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Medtronic by 1.4% during the 3rd quarter. Wells Fargo & Company MN now owns 12,378,331 shares of the medical technology company’s stock worth $962,664,000 after purchasing an additional 165,149 shares during the last quarter. 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 business’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $78.03, for a total value of $1,248,480.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard Kuntz sold 78,526 shares of the business’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $86.21, for a total transaction of $6,769,726.46. The disclosure for this sale can be found here. Over the last three months, insiders sold 152,684 shares of company stock valued at $12,831,076. 0.31% of the stock is owned by corporate insiders.
Shares of Medtronic plc. (NYSE MDT) opened at $85.49 on Thursday. Medtronic plc. has a 1 year low of $73.38 and a 1 year high of $89.72. The firm has a market cap of $116,240.00, a price-to-earnings ratio of 23.49, a P/E/G ratio of 2.35 and a beta of 0.99. The company has a quick ratio of 2.05, a current ratio of 2.40 and a debt-to-equity ratio of 0.50.
Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.08. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The firm had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $7.05 billion. During the same period in the previous year, the company earned $1.12 earnings per share. Medtronic’s quarterly revenue was down 4.0% compared to the same quarter last year. equities analysts predict that Medtronic plc. will post 4.77 EPS for the current year.
The business 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 $0.46 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.84 dividend on an annualized basis and a yield of 2.15%. Medtronic’s dividend payout ratio (DPR) is presently 50.55%.
Several equities research analysts have recently issued reports on the stock. SunTrust Banks reaffirmed a “buy” rating and set a $96.00 price objective on shares of Medtronic in a research report on Monday, October 2nd. Evercore ISI assumed coverage on shares of Medtronic in a research report on Wednesday, January 3rd. They set an “outperform” rating and a $92.50 price objective for the company. Jefferies Group reaffirmed a “buy” rating and set a $96.00 price objective on shares of Medtronic in a research report on Thursday, September 28th. Bank of America raised shares of Medtronic from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. Finally, Royal Bank of Canada decreased their price objective on shares of Medtronic from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, October 9th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $89.65.
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Medtronic Company Profile
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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