Belpointe Asset Management LLC acquired a new position in shares of Medtronic plc. (NYSE:MDT) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 7,837 shares of the medical technology company’s stock, valued at approximately $633,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Quadrant Capital Group LLC increased 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 valued at $114,000 after acquiring an additional 290 shares during the period. Blue Chip Partners Inc. purchased a new position in shares of Medtronic in the 3rd quarter valued at $118,000. Barrett Asset Management LLC increased its holdings in shares of Medtronic by 856.0% in the 4th quarter. Barrett Asset Management LLC now owns 1,826 shares of the medical technology company’s stock valued at $147,000 after acquiring an additional 1,635 shares during the period. Westwood Holdings Group Inc. purchased a new position in shares of Medtronic in the 2nd quarter valued at $151,000. Finally, SevenBridge Financial Group LLC increased its holdings in shares of Medtronic by 76.2% in the 3rd quarter. SevenBridge Financial Group LLC now owns 2,197 shares of the medical technology company’s stock valued at $171,000 after acquiring an additional 950 shares during the period. Institutional investors own 80.79% of the company’s stock.
Medtronic plc. (NYSE MDT) opened at $81.29 on Friday. The stock has a market capitalization of $111,547.20, a PE ratio of 40.04, a PEG ratio of 2.33 and a beta of 0.97. The company has a quick ratio of 2.09, a current ratio of 2.43 and a debt-to-equity ratio of 0.51. Medtronic plc. has a fifty-two week low of $76.51 and a fifty-two week high of $89.72.
Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.01. The business had revenue of $7.37 billion during the quarter, compared to analysts’ expectations of $7.20 billion. Medtronic had a return on equity of 12.65% and a net margin of 9.44%. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.12 EPS. sell-side analysts expect that Medtronic plc. will post 4.75 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Friday, March 23rd will be paid a $0.46 dividend. The ex-dividend date is Thursday, March 22nd. This represents a $1.84 annualized dividend and a dividend yield of 2.26%. Medtronic’s dividend payout ratio is presently 90.64%.
In related news, EVP Hooman Hakami sold 26,158 shares of Medtronic stock in a transaction dated Friday, January 5th. The stock was 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 accessible through this link. Also, Director James T. Lenehan sold 1,306 shares of Medtronic stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $83.56, for a total value of $109,129.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 130,469 shares of company stock valued at $11,016,054. 0.31% of the stock is owned by company insiders.
A number of brokerages have recently issued reports on MDT. Oppenheimer set a $94.00 price target on Medtronic and gave the company a “buy” rating in a report on Friday, January 19th. Morgan Stanley lifted their price target on Medtronic from $91.00 to $95.00 and gave the company an “equal weight” rating in a report on Monday, February 5th. Stifel Nicolaus lifted their price target on Medtronic from $83.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, November 22nd. Zacks Investment Research upgraded Medtronic from a “sell” rating to a “hold” rating in a report on Thursday, November 23rd. Finally, Jefferies Group reiterated a “buy” rating and issued a $99.00 price target on shares of Medtronic in a report on Thursday, November 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $91.50.
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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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