Smithbridge Asset Management Inc. DE increased its position in shares of Medtronic plc. (NYSE:MDT) by 8.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,242 shares of the medical technology company’s stock after buying 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 quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. BDO Wealth Advisors LLC bought a new position in Medtronic during the second quarter worth about $103,000. Motco raised its stake in shares of Medtronic by 8.7% in the second quarter. Motco now owns 1,239 shares of the medical technology company’s stock valued at $110,000 after acquiring an additional 99 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Medtronic by 21.5% in the second quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock valued at $114,000 after acquiring an additional 290 shares during the last quarter. Blue Chip Partners Inc. bought a new position in shares of Medtronic in the third quarter valued at approximately $118,000. Finally, Westwood Holdings Group Inc. bought a new position in shares of Medtronic in the second quarter valued at approximately $151,000. 81.91% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Hooman Hakami sold 26,158 shares of the business’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Richard Kuntz sold 78,526 shares of the business’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $86.21, for a total transaction of $6,769,726.46. Following the completion of the transaction, the vice president now directly owns 149,761 shares of the company’s stock, valued at approximately $12,910,895.81. The disclosure for this sale can be found here. Insiders have sold a total of 136,684 shares of company stock valued at $11,582,596 in the last ninety days. Company insiders own 0.31% of the company’s stock.
MDT has been the subject of a number of research analyst reports. Bank of America upgraded shares of Medtronic from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 2nd. SunTrust Banks set a $92.00 target price on shares of Medtronic and gave the company a “buy” rating in a research note on Sunday, November 19th. Jefferies Group reiterated a “buy” rating and issued a $99.00 target price on shares of Medtronic in a research note on Thursday, November 23rd. Oppenheimer reiterated a “buy” rating on shares of Medtronic in a research note on Thursday, December 21st. Finally, Zacks Investment Research upgraded shares of Medtronic from a “sell” rating to a “hold” rating in a research note on Thursday, November 23rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company. Medtronic has a consensus rating of “Buy” and an average price target of $90.10.
Medtronic plc. (MDT) traded up $0.76 on Monday, reaching $80.24. 4,314,124 shares of the company’s stock were exchanged, compared to its average volume of 5,510,000. The company has a quick ratio of 2.05, a current ratio of 2.40 and a debt-to-equity ratio of 0.50. Medtronic plc. has a 12-month low of $75.71 and a 12-month high of $89.72. The firm has a market cap of $107,580.00, a price-to-earnings ratio of 22.04, a PEG ratio of 2.19 and a beta of 0.93.
Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The firm had revenue of $7.05 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same quarter in the previous year, the business earned $1.12 EPS. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. equities analysts forecast that Medtronic plc. will post 4.76 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 19th. Shareholders of record on Friday, December 29th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend was Thursday, December 28th. Medtronic’s dividend payout ratio 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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