Bessemer Group Inc. trimmed its position in Medtronic plc. (NYSE:MDT) by 16.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,178 shares of the medical technology company’s stock after selling 4,248 shares during the quarter. Bessemer Group Inc.’s holdings in Medtronic were worth $1,710,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. BDO Wealth Advisors LLC purchased a new stake in shares of Medtronic in the 2nd quarter worth $103,000. Motco lifted its holdings 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. Blue Chip Partners Inc. purchased a new stake in shares of Medtronic in the 3rd quarter worth $118,000. Quadrant Capital Group LLC lifted its holdings 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. Finally, Westwood Holdings Group Inc. purchased a new stake in shares of Medtronic in the 2nd quarter worth $151,000. Institutional investors and hedge funds own 81.91% of the company’s stock.
Shares of Medtronic plc. (NYSE MDT) traded down $0.60 during trading hours on Tuesday, reaching $79.64. The company had a trading volume of 1,475,008 shares, compared to its average volume of 5,463,325. Medtronic plc. has a 12 month low of $76.46 and a 12 month high of $89.72. The firm has a market cap of $108,600.00, a price-to-earnings ratio of 21.86, a P/E/G ratio of 2.19 and a beta of 0.93. 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 (NYSE:MDT) last announced its earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.08. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The company had revenue of $7.05 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same period in the prior year, the company posted $1.12 EPS. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. equities analysts predict that Medtronic plc. will post 4.76 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 19th. Stockholders of record on Friday, December 29th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Thursday, December 28th. Medtronic’s dividend payout ratio is presently 50.55%.
Several research firms have recently commented on MDT. Bank of America raised Medtronic from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. SunTrust Banks set a $92.00 price target on Medtronic and gave the stock a “buy” rating in a research report on Sunday, November 19th. Jefferies Group reissued a “buy” rating and issued a $99.00 price target on shares of Medtronic in a research report on Thursday, November 23rd. Oppenheimer reissued a “buy” rating on shares of Medtronic in a research report on Thursday, December 21st. Finally, Zacks Investment Research raised Medtronic from a “sell” rating to a “hold” rating in a research report on Thursday, November 23rd. Two investment 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 stock has a consensus rating of “Buy” and an average price target of $90.10.
In other news, VP Richard Kuntz sold 78,526 shares of the stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $86.21, for a total value of $6,769,726.46. Following the transaction, the vice president now directly owns 149,761 shares of the company’s stock, valued at $12,910,895.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction dated Friday, December 15th. The shares were 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 directly owns 88,818 shares in the company, valued at $7,355,906.76. The disclosure for this sale can be found here. Insiders sold 136,684 shares of company stock worth $11,582,596 over the last three months. Corporate insiders own 0.31% of the company’s stock.
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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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