Vident Investment Advisory LLC purchased a new position in shares of Medtronic plc. (NYSE:MDT) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 42,294 shares of the medical technology company’s stock, valued at approximately $3,289,000.
Other institutional investors have also recently modified their holdings of the company. Lazard Asset Management LLC lifted its position in Medtronic by 43.8% in the 2nd quarter. Lazard Asset Management LLC now owns 19,669,866 shares of the medical technology company’s stock valued at $1,745,699,000 after purchasing an additional 5,991,094 shares during the last quarter. Alliancebernstein L.P. lifted its position in Medtronic by 135.5% in the 2nd quarter. Alliancebernstein L.P. now owns 6,070,160 shares of the medical technology company’s stock valued at $538,727,000 after purchasing an additional 3,493,058 shares during the last quarter. BlackRock Inc. lifted its position in Medtronic by 2.8% in the 2nd quarter. BlackRock Inc. now owns 89,512,229 shares of the medical technology company’s stock valued at $7,944,210,000 after purchasing an additional 2,476,853 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Medtronic by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 104,776,036 shares of the medical technology company’s stock worth $9,298,872,000 after buying an additional 2,454,380 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Medtronic by 35.0% during the 3rd quarter. American Century Companies Inc. now owns 9,082,452 shares of the medical technology company’s stock worth $706,342,000 after buying an additional 2,354,467 shares in the last quarter. Institutional investors and hedge funds own 81.97% of the company’s stock.
Several equities analysts have recently issued reports on the stock. Oppenheimer set a $94.00 price objective on shares of Medtronic and gave the stock a “buy” rating in a research note on Friday, January 19th. SunTrust Banks set a $92.00 target price on shares of Medtronic and gave the stock a “buy” rating in a research report on Sunday, November 19th. Royal Bank of Canada dropped their target price on shares of Medtronic from $90.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, October 9th. 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. Finally, Zacks Investment Research upgraded shares of Medtronic from a “sell” rating to a “hold” rating in a report on Thursday, November 23rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company’s stock. Medtronic currently has a consensus rating of “Buy” and a consensus price target of $89.65.
Medtronic plc. (NYSE MDT) traded down $0.91 on Thursday, hitting $84.98. The stock had a trading volume of 4,201,568 shares, compared to its average volume of 4,820,000. Medtronic plc. has a 12 month low of $75.23 and a 12 month high of $89.72. The company has a quick ratio of 2.05, a current ratio of 2.40 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $116,250.00, a P/E ratio of 23.35, a P/E/G ratio of 2.37 and a beta of 0.99.
Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.08. The firm had revenue of $7.05 billion for the quarter, compared to analyst estimates of $7.05 billion. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period last year, the firm posted $1.12 earnings per share. sell-side analysts expect that Medtronic plc. will post 4.76 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 issued a dividend of $0.46 per share. The ex-dividend date was Thursday, December 28th. This represents a $1.84 annualized dividend and a yield of 2.17%. Medtronic’s dividend payout ratio (DPR) is currently 50.55%.
In other Medtronic news, EVP Bryan C. Hanson sold 16,000 shares of the company’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 completion of the transaction, the executive vice president now owns 88,818 shares in the company, valued at approximately $7,355,906.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Hooman Hakami sold 26,158 shares of the company’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $85.00, for a total value of $2,223,430.00. The disclosure for this sale can be found here. Insiders have sold 136,684 shares of company stock valued at $11,582,596 in the last quarter. 0.31% of the stock is currently owned by corporate insiders.
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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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