Robecosam AG raised its stake in Medtronic PLC (NYSE:MDT) by 44.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,244 shares of the medical technology company’s stock after acquiring an additional 1,620 shares during the quarter. Robecosam AG’s holdings in Medtronic were worth $512,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in MDT. Ropes Wealth Advisors LLC increased its holdings in shares of Medtronic by 24.1% during the third quarter. Ropes Wealth Advisors LLC now owns 9,222 shares of the medical technology company’s stock worth $907,000 after purchasing an additional 1,791 shares during the period. Dubuque Bank & Trust Co. increased its holdings in shares of Medtronic by 3.7% during the third quarter. Dubuque Bank & Trust Co. now owns 126,391 shares of the medical technology company’s stock worth $12,433,000 after purchasing an additional 4,520 shares during the period. Capital Investment Advisory Services LLC bought a new position in shares of Medtronic during the third quarter worth approximately $281,000. Acadian Asset Management LLC increased its holdings in shares of Medtronic by 34.7% during the third quarter. Acadian Asset Management LLC now owns 50,082 shares of the medical technology company’s stock worth $4,926,000 after purchasing an additional 12,891 shares during the period. Finally, Ridgewood Investments LLC increased its holdings in shares of Medtronic by 11.9% during the third quarter. Ridgewood Investments LLC now owns 5,358 shares of the medical technology company’s stock worth $527,000 after purchasing an additional 571 shares during the period. 80.14% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on the stock. Needham & Company LLC upgraded shares of Medtronic from a “buy” rating to a “strong-buy” rating and increased their price target for the stock from $103.00 to $119.00 in a research report on Monday, August 13th. Wells Fargo & Co increased their price target on shares of Medtronic from $95.00 to $101.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 22nd. Argus increased their price target on shares of Medtronic from $95.00 to $108.00 and gave the stock a “buy” rating in a research report on Monday, August 27th. Leerink Swann increased their price target on shares of Medtronic from $95.00 to $100.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 22nd. Finally, Zacks Investment Research lowered shares of Medtronic from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $102.21.
In other Medtronic news, SVP Richard Kuntz sold 47,176 shares of the firm’s stock in a transaction that occurred on 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 sale, the senior vice president now owns 152,579 shares in the company, valued at $14,629,274.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard H. Anderson bought 2,600 shares of the business’s stock in a transaction on Thursday, August 23rd. The stock was bought at an average price of $95.88 per share, for a total transaction of $249,288.00. The disclosure for this purchase can be found here. Insiders sold 268,678 shares of company stock worth $25,818,353 in the last 90 days. Company insiders own 0.28% of the company’s stock.
Shares of Medtronic stock opened at $91.42 on Friday. Medtronic PLC has a fifty-two week low of $76.41 and a fifty-two week high of $100.15. The company has a current ratio of 2.46, a quick ratio of 2.06 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $121.30 billion, a price-to-earnings ratio of 18.60, a P/E/G ratio of 2.39 and a beta of 0.93.
Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, August 21st. The medical technology company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.06. Medtronic had a net margin of 10.56% and a return on equity of 12.98%. The firm had revenue of $7.38 billion for the quarter, compared to analyst estimates of $7.24 billion. During the same quarter last year, the business posted $1.12 earnings per share. The company’s quarterly revenue was down .1% on a year-over-year basis. Equities analysts anticipate that Medtronic PLC will post 5.12 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 19th. Shareholders of record on Friday, September 28th were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $2.00 dividend on an annualized basis and a yield of 2.19%. Medtronic’s dividend payout ratio is currently 41.93%.
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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