M Holdings Securities Inc. increased its position in Medtronic plc. (NYSE:MDT) by 30.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,684 shares of the medical technology company’s stock after buying an additional 2,990 shares during the quarter. Medtronic comprises approximately 0.8% of M Holdings Securities Inc.’s holdings, making the stock its 22nd largest position. M Holdings Securities Inc.’s holdings in Medtronic were worth $2,741,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Moors & Cabot Inc. lifted its holdings in shares of Medtronic by 0.4% in the second quarter. Moors & Cabot Inc. now owns 43,227 shares of the medical technology company’s stock valued at $3,842,000 after buying an additional 178 shares during the period. Prudential Financial Inc. lifted its holdings in shares of Medtronic by 1.6% in the third quarter. Prudential Financial Inc. now owns 3,308,500 shares of the medical technology company’s stock valued at $257,302,000 after buying an additional 53,474 shares during the period. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in shares of Medtronic by 10.7% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 475,699 shares of the medical technology company’s stock valued at $36,995,000 after buying an additional 45,826 shares during the period. Koch Industries Inc. lifted its holdings in shares of Medtronic by 27,564.6% in the second quarter. Koch Industries Inc. now owns 1,403,151 shares of the medical technology company’s stock valued at $1,388,000 after buying an additional 1,398,079 shares during the period. Finally, Sun Life Financial INC lifted its holdings in shares of Medtronic by 42,678.3% in the second quarter. Sun Life Financial INC now owns 25,667 shares of the medical technology company’s stock valued at $2,282,000 after buying an additional 25,607 shares during the period. Institutional investors and hedge funds own 81.22% of the company’s stock.
NYSE:MDT opened at $77.64 on Friday. The firm has a market cap of $106,694.97, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 2.21 and a beta of 0.94. Medtronic plc. has a 1-year low of $76.41 and a 1-year high of $89.72. The company has a current ratio of 2.43, a quick ratio of 2.09 and a debt-to-equity ratio of 0.51.
Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.01. The firm had revenue of $7.37 billion for the quarter, compared to analyst estimates of $7.20 billion. Medtronic had a return on equity of 12.65% and a net margin of 9.44%. Medtronic’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.12 earnings per share. equities research analysts predict that Medtronic plc. will post 4.74 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Friday, March 23rd will be paid a $0.46 dividend. The ex-dividend date of this dividend is Thursday, March 22nd. This represents a $1.84 dividend on an annualized basis and a yield of 2.37%. Medtronic’s dividend payout ratio (DPR) is currently 40.00%.
In other Medtronic news, VP Richard Kuntz sold 78,526 shares of the business’s 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 owns 149,761 shares in the company, valued at $12,910,895.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Carol A. Surface sold 24,479 shares of the business’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $78.18, for a total value of $1,913,768.22. The disclosure for this sale can be found here. Insiders sold 104,311 shares of company stock worth $8,792,624 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.
Several brokerages have recently weighed in on MDT. Morgan Stanley cut their price objective on Medtronic from $95.00 to $90.00 and set an “equal weight” rating for the company in a report on Thursday, March 29th. Oppenheimer reaffirmed a “buy” rating on shares of Medtronic in a research report on Tuesday, March 20th. Citigroup reaffirmed a “buy” rating and set a $93.00 target price (down from $100.00) on shares of Medtronic in a research report on Thursday, February 22nd. TheStreet lowered Medtronic from a “b” rating to a “c+” rating in a research report on Tuesday, February 20th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $92.00 target price on shares of Medtronic in a research report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $91.24.
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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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