Northeast Investment Management Boosts Stake in Medtronic plc. (NYSE:MDT)

Northeast Investment Management increased its holdings in shares of Medtronic plc. (NYSE:MDT) by 138.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,571 shares of the medical technology company’s stock after purchasing an additional 3,813 shares during the period. Northeast Investment Management’s holdings in Medtronic were worth $511,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of MDT. Flagship Harbor Advisors LLC purchased a new position in Medtronic during the 1st quarter valued at about $377,000. HighTower Advisors LLC boosted its stake in shares of Medtronic by 14.8% during the 1st quarter. HighTower Advisors LLC now owns 250,096 shares of the medical technology company’s stock worth $20,122,000 after purchasing an additional 32,253 shares during the last quarter. Harbour Capital Advisors LLC acquired a new stake in shares of Medtronic during the 1st quarter worth about $154,000. Cypress Wealth Advisors LLC acquired a new stake in shares of Medtronic during the 1st quarter worth about $244,000. Finally, First Financial Equity Corporation acquired a new stake in shares of Medtronic during the 1st quarter worth about $592,000. Hedge funds and other institutional investors own 81.72% of the company’s stock.

MDT has been the topic of several research analyst reports. Stifel Nicolaus raised their target price on shares of Medtronic from $83.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, November 22nd. Oppenheimer reissued a “buy” rating and issued a $94.00 target price on shares of Medtronic in a research report on Wednesday, November 22nd. Northland Securities reissued a “hold” rating and issued a $80.00 target price on shares of Medtronic in a research report on Wednesday, November 22nd. Zacks Investment Research raised shares of Medtronic from a “sell” rating to a “hold” rating in a research report on Thursday, November 23rd. Finally, Jefferies Group reaffirmed a “buy” rating and set a $99.00 price target on shares of Medtronic in a research report on Thursday, November 23rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $89.65.

In other Medtronic news, EVP Hooman Hakami sold 26,158 shares of the business’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $85.00, for a total transaction of $2,223,430.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction dated 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. Over the last quarter, insiders sold 152,684 shares of company stock worth $12,831,076. 0.31% of the stock is owned by company insiders.

Shares of Medtronic plc. (NYSE:MDT) traded down $0.28 on Friday, hitting $85.45. 5,085,912 shares of the stock traded hands, compared to its average volume of 4,960,000. The firm has a market capitalization of $116,040.00, a P/E ratio of 23.48, a price-to-earnings-growth ratio of 2.36 and a beta of 0.99. Medtronic plc. has a 52 week low of $73.59 and a 52 week high of $89.72. 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 (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.08. The business had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $7.05 billion. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.12 earnings per share. equities analysts expect that Medtronic plc. will post 4.77 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 19th. Shareholders of record on Friday, December 29th will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.15%. The ex-dividend date is Thursday, December 28th. Medtronic’s dividend payout ratio (DPR) is presently 50.55%.

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About Medtronic

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.

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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