Randolph Co Inc boosted its position in shares of Medtronic PLC (NYSE:MDT) by 1.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 106,050 shares of the medical technology company’s stock after purchasing an additional 1,410 shares during the period. Medtronic accounts for approximately 1.7% of Randolph Co Inc’s portfolio, making the stock its 26th biggest position. Randolph Co Inc’s holdings in Medtronic were worth $10,432,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MDT. BlackRock Inc. lifted its position in shares of Medtronic by 2.1% in the second quarter. BlackRock Inc. now owns 97,867,667 shares of the medical technology company’s stock worth $8,378,448,000 after buying an additional 1,966,789 shares during the last quarter. Artisan Partners Limited Partnership lifted its position in shares of Medtronic by 4.2% in the second quarter. Artisan Partners Limited Partnership now owns 23,443,933 shares of the medical technology company’s stock worth $2,007,035,000 after buying an additional 939,892 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Medtronic by 11.3% in the second quarter. Bank of New York Mellon Corp now owns 15,717,199 shares of the medical technology company’s stock worth $1,345,549,000 after buying an additional 1,589,932 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Medtronic by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 8,884,401 shares of the medical technology company’s stock worth $760,649,000 after buying an additional 394,973 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Medtronic by 2.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 5,364,517 shares of the medical technology company’s stock worth $459,257,000 after buying an additional 114,365 shares during the last quarter. 80.08% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Geoffrey Martha sold 49,799 shares of the business’s stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $97.93, for a total transaction of $4,876,816.07. Following the transaction, the executive vice president now directly owns 87,872 shares in the company, valued at $8,605,304.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Richard Kuntz sold 47,176 shares of the business’s stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $95.88, for a total value of $4,523,234.88. Following the transaction, the senior vice president now owns 152,579 shares in the company, valued at $14,629,274.52. The disclosure for this sale can be found here. Insiders sold 268,678 shares of company stock worth $25,818,353 over the last quarter. 0.28% of the stock is currently owned by corporate insiders.
Medtronic stock opened at $95.92 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.06 and a current ratio of 2.46. The stock has a market capitalization of $131.39 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 2.58 and a beta of 0.92. Medtronic PLC has a 52 week low of $76.41 and a 52 week high of $100.15.
Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 21st. The medical technology company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.06. The business had revenue of $7.38 billion for the quarter, compared to analyst estimates of $7.24 billion. Medtronic had a return on equity of 12.98% and a net margin of 10.56%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the company posted $1.12 earnings per share. Analysts anticipate that Medtronic PLC will post 5.12 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 19th. Stockholders of record on Friday, September 28th will be paid a $0.50 dividend. The ex-dividend date is Thursday, September 27th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.09%. Medtronic’s payout ratio is presently 41.93%.
MDT has been the subject of a number of analyst reports. Sanford C. Bernstein initiated coverage on Medtronic in a research report on Wednesday, June 27th. They issued a “market perform” rating and a $88.00 price target for the company. Zacks Investment Research cut Medtronic from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Needham & Company LLC raised Medtronic from a “buy” rating to a “strong-buy” rating and boosted their price target for the stock from $103.00 to $119.00 in a research report on Monday, August 13th. Oppenheimer reaffirmed a “buy” rating and issued a $104.00 price target on shares of Medtronic in a research report on Tuesday, August 21st. Finally, Stifel Nicolaus boosted their price target on Medtronic from $87.00 to $96.00 and gave the stock a “hold” rating in a research report on Wednesday, August 22nd. Eight equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Medtronic has a consensus rating of “Buy” and an average price target of $102.08.
Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.
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