Ledyard National Bank boosted its holdings in shares of Medtronic plc. (NYSE:MDT) by 1.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 74,049 shares of the medical technology company’s stock after purchasing an additional 1,097 shares during the period. Ledyard National Bank’s holdings in Medtronic were worth $5,979,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Medtronic by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 104,776,036 shares of the medical technology company’s stock valued at $9,298,872,000 after acquiring an additional 2,454,380 shares during the last quarter. BlackRock Inc. raised its position in Medtronic by 2.8% during the 2nd quarter. BlackRock Inc. now owns 89,512,229 shares of the medical technology company’s stock worth $7,944,210,000 after purchasing an additional 2,476,853 shares during the last quarter. Artisan Partners Limited Partnership raised its position in Medtronic by 1.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 23,853,034 shares of the medical technology company’s stock worth $1,855,050,000 after purchasing an additional 269,814 shares during the last quarter. Lazard Asset Management LLC raised its position in Medtronic by 43.8% during the 2nd quarter. Lazard Asset Management LLC now owns 19,669,866 shares of the medical technology company’s stock worth $1,745,699,000 after purchasing an additional 5,991,094 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in Medtronic by 1.4% during the 3rd quarter. Wells Fargo & Company MN now owns 12,378,331 shares of the medical technology company’s stock worth $962,664,000 after purchasing an additional 165,149 shares during the last quarter. Hedge funds and other institutional investors own 81.91% of the company’s stock.
A number of brokerages have weighed in on MDT. Royal Bank of Canada reiterated an “outperform” rating and set a $92.00 price target on shares of Medtronic in a report on Wednesday. Stifel Nicolaus increased their price target on Medtronic from $83.00 to $85.00 and gave the stock a “hold” rating in a report on Wednesday, November 22nd. SunTrust Banks restated a “buy” rating and issued a $96.00 target price on shares of Medtronic in a research note on Friday, November 3rd. Argus upgraded Medtronic from a “hold” rating to a “buy” rating and raised their target price for the company from $81.27 to $95.00 in a research note on Tuesday, December 12th. They noted that the move was a valuation call. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $94.00 price target on shares of Medtronic in a research report on Wednesday, November 22nd. Two investment 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. Medtronic has a consensus rating of “Buy” and a consensus price target of $90.45.
Medtronic plc. (NYSE:MDT) traded up $0.53 on Wednesday, hitting $80.75. 1,142,681 shares of the stock were exchanged, compared to its average volume of 5,429,026. Medtronic plc. has a 12-month low of $76.51 and a 12-month high of $89.72. The stock has a market cap of $108,580.00, a price-to-earnings ratio of 21.96, a P/E/G ratio of 2.21 and a beta of 0.93. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.40 and a quick ratio of 2.05.
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, topping the consensus estimate of $0.99 by $0.08. The company had revenue of $7.05 billion during the quarter, compared to analyst estimates of $7.05 billion. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.12 earnings per share. research analysts forecast that Medtronic plc. will post 4.76 earnings per share 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 paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Thursday, December 28th. Medtronic’s dividend payout ratio is presently 50.55%.
In related news, 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 of the company’s stock, valued at $7,355,906.76. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Richard Kuntz sold 78,526 shares of the company’s stock in a transaction dated 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 completion of the sale, the vice president now owns 149,761 shares in the company, valued at approximately $12,910,895.81. The disclosure for this sale can be found here. Insiders sold 136,684 shares of company stock valued at $11,582,596 over the last three months. 0.31% of the stock is currently owned by insiders.
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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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