Hyman Charles D acquired a new position in shares of Medtronic PLC (NYSE:MDT) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,465 shares of the medical technology company’s stock, valued at approximately $240,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of MDT. BlackRock Inc. boosted its holdings in shares of Medtronic by 7.9% during the 1st quarter. BlackRock Inc. now owns 106,778,084 shares of the medical technology company’s stock worth $9,725,349,000 after buying an additional 7,856,946 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Medtronic by 35.4% during the 1st quarter. Nordea Investment Management AB now owns 8,622,525 shares of the medical technology company’s stock worth $785,336,000 after buying an additional 2,255,412 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Medtronic by 10.2% during the 4th quarter. Geode Capital Management LLC now owns 16,690,207 shares of the medical technology company’s stock worth $1,515,557,000 after buying an additional 1,538,130 shares during the period. Thoroughbred Financial Services LLC boosted its holdings in shares of Medtronic by 10,079.7% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,044,944 shares of the medical technology company’s stock worth $104,494,000 after buying an additional 1,034,679 shares during the period. Finally, Boston Partners boosted its holdings in shares of Medtronic by 13.9% during the 1st quarter. Boston Partners now owns 8,405,239 shares of the medical technology company’s stock worth $765,549,000 after buying an additional 1,028,238 shares during the period. 80.00% of the stock is owned by institutional investors and hedge funds.
Several analysts recently issued reports on MDT shares. Barclays upped their price objective on shares of Medtronic from $104.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Royal Bank of Canada decreased their price objective on shares of Medtronic to $100.00 and set an “outperform” rating for the company in a report on Tuesday, May 28th. Northland Securities reaffirmed a “hold” rating and set a $100.00 price objective on shares of Medtronic in a report on Thursday, June 20th. Wells Fargo & Co raised shares of Medtronic from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $100.00 to $110.00 in a report on Tuesday, June 4th. Finally, Oppenheimer set a $110.00 price objective on shares of Medtronic and gave the stock a “buy” rating in a report on Monday, July 15th. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Medtronic has an average rating of “Buy” and a consensus target price of $106.05.
In other news, SVP Bradley E. Lerman sold 6,599 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $102.02, for a total transaction of $673,229.98. Following the completion of the transaction, the senior vice president now directly owns 105,960 shares of the company’s stock, valued at approximately $10,810,039.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Carol A. Surface sold 9,000 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $97.66, for a total transaction of $878,940.00. The disclosure for this sale can be found here. Insiders have sold a total of 91,701 shares of company stock valued at $8,917,504 over the last ninety days. 0.28% of the stock is owned by insiders.
Medtronic stock traded down $0.04 during mid-day trading on Friday, reaching $102.33. The company had a trading volume of 3,632,162 shares, compared to its average volume of 3,972,484. The company has a current ratio of 2.59, a quick ratio of 2.15 and a debt-to-equity ratio of 0.49. Medtronic PLC has a 52 week low of $81.66 and a 52 week high of $103.95. The stock’s 50 day simple moving average is $99.63. The stock has a market cap of $137.29 billion, a price-to-earnings ratio of 19.60, a price-to-earnings-growth ratio of 2.62 and a beta of 0.67.
Medtronic (NYSE:MDT) last issued its quarterly earnings results on Thursday, May 23rd. The medical technology company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.07. Medtronic had a net margin of 15.15% and a return on equity of 14.16%. The firm had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.12 billion. During the same period in the prior year, the firm earned $1.42 EPS. The business’s revenue was up .0% on a year-over-year basis. On average, equities research analysts predict that Medtronic PLC will post 5.47 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 8th were issued a $0.54 dividend. The ex-dividend date was Friday, July 5th. This is an increase from Medtronic’s previous quarterly dividend of $0.50. This represents a $2.16 dividend on an annualized basis and a yield of 2.11%. Medtronic’s dividend payout ratio is 41.38%.
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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