Smithbridge Asset Management Inc. DE grew its holdings in Medtronic plc. (NYSE:MDT) by 8.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 28,242 shares of the medical technology company’s stock after acquiring an additional 2,274 shares during the quarter. Smithbridge Asset Management Inc. DE’s holdings in Medtronic were worth $2,281,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Captrust Financial Advisors acquired a new stake in shares of Medtronic during the second quarter worth about $384,000. Wesbanco Bank Inc. lifted its holdings in shares of Medtronic by 3.1% during the second 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 during the period. Dupont Capital Management Corp lifted its holdings in shares of Medtronic by 28.8% during the second 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 during the period. Chilton Investment Co. LLC lifted its holdings in shares of Medtronic by 6.1% during the second quarter. Chilton Investment Co. LLC now owns 26,842 shares of the medical technology company’s stock worth $2,382,000 after purchasing an additional 1,538 shares during the period. Finally, Moors & Cabot Inc. lifted its holdings in shares of Medtronic by 0.4% during the second quarter. Moors & Cabot Inc. now owns 43,227 shares of the medical technology company’s stock worth $3,842,000 after purchasing an additional 178 shares during the period. 81.75% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently commented on MDT. Oppenheimer set a $94.00 target price on Medtronic and gave the stock a “buy” rating in a report on Friday. Stifel Nicolaus lifted their target price on Medtronic from $83.00 to $85.00 and gave the stock a “hold” rating in a report on Wednesday, November 22nd. Northland Securities reaffirmed a “hold” rating and set a $80.00 target price on shares of Medtronic in a report on Wednesday, November 22nd. Zacks Investment Research raised Medtronic from a “sell” rating to a “hold” rating in a report on Thursday, November 23rd. Finally, Jefferies Group reaffirmed a “buy” rating and set a $99.00 target price on shares of Medtronic in a report on Thursday, November 23rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the stock. Medtronic presently has a consensus rating of “Buy” and an average price target of $89.65.
In other news, EVP Hooman Hakami sold 26,158 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $85.00, for a total value of $2,223,430.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bryan C. Hanson sold 16,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $79.02, for a total value of $1,264,320.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 136,684 shares of company stock valued at $11,582,596. 0.31% of the stock is owned by company insiders.
Medtronic plc. (NYSE MDT) opened at $86.68 on Friday. The company has a current ratio of 2.40, a quick ratio of 2.05 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $117,321.21, a P/E ratio of 23.75, a P/E/G ratio of 2.39 and a beta of 1.00. Medtronic plc. has a 12-month low of $73.59 and a 12-month high of $89.72.
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 the consensus estimate of $0.99 by $0.08. The company had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $7.05 billion. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. Medtronic’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period last year, the business earned $1.12 earnings per share. equities analysts predict that Medtronic plc. will post 4.77 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, January 19th. Investors of record on Friday, December 29th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Thursday, December 28th. Medtronic’s dividend payout ratio is currently 50.41%.
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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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