VeraBank N.A. increased its holdings in shares of Medtronic PLC (NYSE:MDT) by 1.8% during the third quarter, Holdings Channel reports. The fund owned 6,827 shares of the medical technology company’s stock after acquiring an additional 122 shares during the quarter. VeraBank N.A.’s holdings in Medtronic were worth $742,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also bought and sold shares of MDT. Krane Funds Advisors LLC acquired a new position in shares of Medtronic during the 2nd quarter worth approximately $25,000. River & Mercantile Asset Management LLP acquired a new position in shares of Medtronic during the 2nd quarter worth approximately $26,000. Lenox Wealth Advisors LLC increased its holdings in shares of Medtronic by 393.3% during the 3rd quarter. Lenox Wealth Advisors LLC now owns 296 shares of the medical technology company’s stock worth $32,000 after acquiring an additional 236 shares during the last quarter. Redhawk Wealth Advisors Inc. acquired a new position in shares of Medtronic during the 2nd quarter worth approximately $34,000. Finally, Rocky Mountain Advisers LLC increased its holdings in shares of Medtronic by 100.0% during the 2nd quarter. Rocky Mountain Advisers LLC now owns 400 shares of the medical technology company’s stock worth $39,000 after acquiring an additional 200 shares during the last quarter. 81.03% of the stock is currently owned by institutional investors and hedge funds.
MDT has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $133.00 target price on shares of Medtronic in a report on Wednesday, August 28th. Stifel Nicolaus boosted their target price on Medtronic from $95.00 to $112.00 and gave the stock a “hold” rating in a report on Wednesday, August 21st. Raymond James boosted their target price on Medtronic from $105.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Wells Fargo & Co boosted their price target on Medtronic from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Finally, UBS Group boosted their price target on Medtronic from $112.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Medtronic presently has a consensus rating of “Buy” and an average price target of $113.84.
MDT traded up $0.79 during trading on Friday, hitting $108.21. The stock had a trading volume of 1,835,605 shares, compared to its average volume of 4,680,946. The company has a 50 day moving average price of $108.18 and a 200-day moving average price of $97.98. The firm has a market cap of $140.89 billion, a price-to-earnings ratio of 20.73, a P/E/G ratio of 2.58 and a beta of 0.64. Medtronic PLC has a one year low of $81.66 and a one year high of $112.05. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.67 and a quick ratio of 2.20.
Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.08. The business had revenue of $7.49 billion during the quarter, compared to the consensus estimate of $7.40 billion. Medtronic had a return on equity of 14.36% and a net margin of 14.41%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.17 EPS. As a group, sell-side analysts predict that Medtronic PLC will post 5.56 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, September 27th will be given a dividend of $0.54 per share. The ex-dividend date is Thursday, September 26th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.00%. Medtronic’s payout ratio is 41.38%.
In other news, SVP Richard Kuntz sold 21,425 shares of the company’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $107.51, for a total transaction of $2,303,401.75. Following the completion of the sale, the senior vice president now directly owns 78,916 shares in the company, valued at approximately $8,484,259.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Hooman Hakami sold 82,877 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $107.31, for a total value of $8,893,530.87. Following the sale, the executive vice president now owns 30,761 shares of the company’s stock, valued at $3,300,962.91. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 118,339 shares of company stock valued at $12,619,053. Corporate insiders own 0.28% of the company’s stock.
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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