Piedmont Investment Advisors LLC grew its holdings in shares of Medtronic plc. (NYSE:MDT) by 0.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 295,805 shares of the medical technology company’s stock after purchasing an additional 2,682 shares during the quarter. Piedmont Investment Advisors LLC’s holdings in Medtronic were worth $23,005,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. BDO Wealth Advisors LLC purchased a new position in shares of Medtronic in the 2nd quarter worth $103,000. Motco raised its position in shares of Medtronic by 8.7% in the 2nd quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after buying an additional 99 shares during the period. Quadrant Capital Group LLC raised its position in shares of Medtronic by 21.5% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock worth $114,000 after buying an additional 290 shares during the period. Blue Chip Partners Inc. purchased a new position in shares of Medtronic in the 3rd quarter worth $118,000. Finally, Kistler Tiffany Companies LLC raised its position in Medtronic by 7.8% in the second quarter. Kistler Tiffany Companies LLC now owns 1,642 shares of the medical technology company’s stock valued at $146,000 after purchasing an additional 119 shares during the period. 81.97% of the stock is currently owned by institutional investors.
In other news, VP Richard Kuntz sold 78,526 shares of Medtronic stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $86.21, for a total transaction of $6,769,726.46. Following the sale, the vice president now owns 149,761 shares of the company’s stock, valued at $12,910,895.81. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 136,684 shares of company stock worth $11,582,596. Corporate insiders own 0.31% of the company’s stock.
Several analysts have recently weighed in on MDT shares. Needham & Company LLC restated a “buy” rating and set a $94.00 target price on shares of Medtronic in a research note on Thursday, November 9th. SunTrust Banks set a $92.00 price target on Medtronic and gave the stock a “buy” rating in a research note on Sunday, November 19th. Royal Bank of Canada decreased their price target on Medtronic from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Monday, October 9th. Evercore ISI assumed coverage on Medtronic in a research note on Wednesday, January 3rd. They issued an “outperform” rating and a $92.50 price target for the company. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $89.00 price target (down from $92.00) on shares of Medtronic in a research note on Tuesday, October 10th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $89.65.
Shares of Medtronic plc. (MDT) traded down $0.53 during mid-day trading on Friday, reaching $84.45. The company’s stock had a trading volume of 5,560,000 shares, compared to its average volume of 4,780,000. 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 12 month low of $75.44 and a 12 month high of $89.72. The firm has a market capitalization of $115,020.00, a P/E ratio of 23.20, a P/E/G ratio of 2.34 and a beta of 0.93.
Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.08. The company had revenue of $7.05 billion for 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%. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 earnings per share. analysts anticipate that Medtronic plc. will post 4.76 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, January 19th. Stockholders of record on Friday, December 29th were issued 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 dividend yield of 2.18%. Medtronic’s dividend payout ratio (DPR) is presently 50.55%.
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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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