American International Group Inc. lowered its position in shares of Medtronic plc. (NYSE:MDT) by 11.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 403,873 shares of the medical technology company’s stock after selling 51,775 shares during the quarter. American International Group Inc.’s holdings in Medtronic were worth $31,409,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Captrust Financial Advisors acquired a new stake in shares of Medtronic during the 2nd quarter worth about $384,000. Wesbanco Bank Inc. increased its position in shares of Medtronic by 3.1% during the 2nd quarter. Wesbanco Bank Inc. now owns 10,170 shares of the medical technology company’s stock worth $903,000 after purchasing an additional 308 shares in the last quarter. Dupont Capital Management Corp increased its position in shares of Medtronic by 28.8% during the 2nd quarter. Dupont Capital Management Corp now owns 74,052 shares of the medical technology company’s stock worth $6,572,000 after purchasing an additional 16,562 shares in the last quarter. Chilton Investment Co. LLC increased its position in Medtronic by 6.1% in the 2nd quarter. Chilton Investment Co. LLC now owns 26,842 shares of the medical technology company’s stock valued at $2,382,000 after acquiring an additional 1,538 shares in the last quarter. Finally, Moors & Cabot Inc. increased its position in Medtronic by 0.4% in the 2nd quarter. Moors & Cabot Inc. now owns 43,227 shares of the medical technology company’s stock valued at $3,842,000 after acquiring an additional 178 shares in the last quarter. Institutional investors and hedge funds own 81.72% of the company’s stock.
Shares of Medtronic plc. (NYSE MDT) opened at $85.73 on Friday. The stock has a market capitalization of $115,710.00, a PE ratio of 23.55, a PEG ratio of 2.35 and a beta of 0.99. The company has a current ratio of 2.40, a quick ratio of 2.05 and a debt-to-equity ratio of 0.50. Medtronic plc. has a 12-month low of $73.59 and a 12-month high of $89.72.
Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.08. The firm had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $7.05 billion. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter last year, the company posted $1.12 EPS. sell-side analysts forecast that Medtronic plc. will post 4.77 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.84 annualized dividend and a dividend yield of 2.15%. Medtronic’s dividend payout ratio (DPR) is presently 50.55%.
In other Medtronic news, VP Richard Kuntz sold 78,526 shares of the business’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $86.21, for a total value of $6,769,726.46. Following the sale, the vice president now directly owns 149,761 shares of the company’s stock, valued at $12,910,895.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Bryan C. Hanson sold 16,000 shares of the company’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 disclosure for this sale can be found here. Insiders have sold 152,684 shares of company stock worth $12,831,076 over the last three months. Insiders own 0.31% of the company’s stock.
MDT has been the subject of several research reports. Needham & Company LLC lowered their price objective on shares of Medtronic from $95.00 to $94.00 and set a “buy” rating for the company in a research report on Tuesday, October 10th. SunTrust Banks set a $92.00 price objective on shares of Medtronic and gave the stock a “buy” rating in a research note on Sunday, November 19th. Cowen reissued a “buy” rating and set a $95.00 price objective on shares of Medtronic in a research note on Friday, November 3rd. Jefferies Group reaffirmed a “buy” rating and issued a $96.00 price target on shares of Medtronic in a research note on Thursday, September 28th. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $94.00 price target on shares of Medtronic in a research note on Wednesday, November 22nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Medtronic currently has a consensus rating of “Buy” and an average price target 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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