Watch Point Trust Co increased its holdings in Medtronic PLC (NYSE:MDT) by 4.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,638 shares of the medical technology company’s stock after acquiring an additional 1,257 shares during the period. Medtronic comprises 1.9% of Watch Point Trust Co’s investment portfolio, making the stock its 28th biggest holding. Watch Point Trust Co’s holdings in Medtronic were worth $3,545,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Krane Funds Advisors LLC bought a new stake in Medtronic in the 2nd quarter worth about $25,000. Private Ocean LLC raised its position in Medtronic by 188.5% in the 3rd quarter. Private Ocean LLC now owns 225 shares of the medical technology company’s stock worth $25,000 after purchasing an additional 147 shares during the period. River & Mercantile Asset Management LLP purchased a new position in Medtronic in the 2nd quarter worth $26,000. Lenox Wealth Advisors LLC raised its position in Medtronic by 393.3% in the 3rd quarter. Lenox Wealth Advisors LLC now owns 296 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 236 shares during the period. Finally, Redhawk Wealth Advisors Inc. purchased a new position in Medtronic in the 2nd quarter worth $34,000. Institutional investors own 81.18% of the company’s stock.
Shares of MDT traded up $0.23 during mid-day trading on Friday, hitting $107.03. 2,260,267 shares of the company traded hands, compared to its average volume of 5,086,191. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.20 and a current ratio of 2.67. The stock has a 50-day moving average price of $107.65 and a two-hundred day moving average price of $100.69. Medtronic PLC has a 1 year low of $81.66 and a 1 year high of $112.05. The stock has a market cap of $141.59 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 2.59 and a beta of 0.62.
Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.08. Medtronic had a net margin of 14.41% and a return on equity of 14.36%. The firm had revenue of $7.49 billion during the quarter, compared to analysts’ expectations of $7.40 billion. During the same period in the previous year, the company earned $1.17 earnings per share. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. On average, analysts forecast that Medtronic PLC will post 5.56 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, September 27th were given a dividend of $0.54 per share. The ex-dividend date was Thursday, September 26th. This represents a $2.16 annualized dividend and a yield of 2.02%. Medtronic’s dividend payout ratio (DPR) is 41.38%.
A number of equities analysts recently commented on the stock. Raymond James lifted their target price on shares of Medtronic from $105.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. UBS Group lifted their target price on shares of Medtronic from $112.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Barclays lifted their target price on shares of Medtronic from $110.00 to $117.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Northland Securities reaffirmed a “hold” rating and set a $100.00 target price on shares of Medtronic in a research note on Wednesday, August 21st. Finally, Deutsche Bank lifted their target price on shares of Medtronic from $100.00 to $111.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $114.33.
In related news, EVP Hooman Hakami sold 82,877 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $107.31, for a total transaction of $8,893,530.87. Following the completion of the sale, the executive vice president now directly owns 30,761 shares in the company, valued at $3,300,962.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Richard Kuntz sold 21,425 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $107.51, for a total transaction of $2,303,401.75. Following the sale, the senior vice president now owns 78,916 shares of the company’s stock, valued at $8,484,259.16. The disclosure for this sale can be found here. Insiders have sold 156,467 shares of company stock valued at $16,900,132 over the last 90 days. 0.28% of the stock is currently owned by company insiders.
Medtronic Company Profile
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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