Northeast Investment Management increased its stake in shares of Medtronic plc. (NYSE:MDT) by 138.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,571 shares of the medical technology company’s stock after purchasing an additional 3,813 shares during the quarter. Northeast Investment Management’s holdings in Medtronic were worth $511,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also modified their holdings of MDT. Parkside Financial Bank & Trust lifted its stake in shares of Medtronic by 22.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock valued at $102,000 after purchasing an additional 210 shares in the last quarter. BDO Wealth Advisors LLC acquired a new position in Medtronic during the 2nd quarter worth approximately $103,000. Motco lifted its position in Medtronic by 8.7% during the 2nd quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after acquiring an additional 99 shares in the last quarter. Farmers National Bank acquired a new position in Medtronic during the 1st quarter worth approximately $121,000. Finally, Blue Chip Partners Inc. acquired a new position in Medtronic during the 3rd quarter worth approximately $118,000. 81.84% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently commented on MDT. Oppenheimer set a $94.00 price target on Medtronic and gave the stock a “buy” rating in a research report on Friday, January 19th. Evercore ISI began coverage on Medtronic in a research report on Wednesday, January 3rd. They set an “outperform” rating and a $92.50 price target on the stock. Bank of America raised Medtronic from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. Argus upgraded Medtronic from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $81.27 to $95.00 in a report on Tuesday, December 12th. They noted that the move was a valuation call. Finally, BMO Capital Markets lifted their price objective on Medtronic to $94.00 and gave the stock an “outperform” rating in a report on Tuesday, December 12th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Medtronic presently has an average rating of “Buy” and an average price target of $89.65.
Shares of Medtronic plc. (MDT) traded up $0.30 on Friday, reaching $87.12. The company had a trading volume of 3,820,000 shares, compared to its average volume of 5,030,000. The company has a market cap of $117,920.00, a P/E ratio of 23.93, a P/E/G ratio of 2.39 and a beta of 0.99. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.05 and a current ratio of 2.40. Medtronic plc. has a 52-week low of $74.27 and a 52-week high of $89.72.
Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, topping 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 firm’s revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.12 EPS. equities analysts predict that Medtronic plc. will post 4.76 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, January 19th. Shareholders of record on Friday, December 29th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $1.84 dividend on an annualized basis and a yield of 2.11%. Medtronic’s dividend payout ratio (DPR) is presently 50.55%.
In other news, EVP Hooman Hakami sold 26,158 shares of the business’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $85.00, for a total transaction of $2,223,430.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Bryan C. Hanson sold 16,000 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $82.82, for a total value of $1,325,120.00. Following the sale, the executive vice president now directly owns 88,818 shares in the company, valued at $7,355,906.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 136,684 shares of company stock valued at $11,582,596. Insiders own 0.31% of the company’s stock.
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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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