Archford Capital Strategies LLC lowered its stake in shares of Medtronic plc. (NYSE:MDT) by 7.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 12,478 shares of the medical technology company’s stock after selling 938 shares during the period. Archford Capital Strategies LLC’s holdings in Medtronic were worth $970,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Country Club Trust Company n.a. acquired a new stake in Medtronic during the 2nd quarter worth approximately $202,000. City Holding Co. lifted its holdings in Medtronic by 9.7% during the 2nd quarter. City Holding Co. now owns 19,280 shares of the medical technology company’s stock worth $1,711,000 after buying an additional 1,708 shares in the last quarter. Dynamic Advisors Solutions LLC lifted its holdings in Medtronic by 10.6% during the 2nd quarter. Dynamic Advisors Solutions LLC now owns 3,127 shares of the medical technology company’s stock worth $278,000 after buying an additional 300 shares in the last quarter. Atria Investments LLC lifted its holdings in Medtronic by 8.4% during the 2nd quarter. Atria Investments LLC now owns 10,009 shares of the medical technology company’s stock worth $888,000 after buying an additional 776 shares in the last quarter. Finally, Lawson Kroeker Investment Management Inc. NE lifted its holdings in Medtronic by 4.7% during the 2nd quarter. Lawson Kroeker Investment Management Inc. NE now owns 10,253 shares of the medical technology company’s stock worth $910,000 after buying an additional 460 shares in the last quarter. 81.72% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Bryan C. Hanson sold 16,000 shares of Medtronic stock in a transaction on Monday, October 16th. The shares were sold at an average price of $78.03, for a total transaction of $1,248,480.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Hooman Hakami sold 26,158 shares of Medtronic stock in a transaction on Friday, January 5th. The stock was sold at an average price of $85.00, for a total transaction of $2,223,430.00. The disclosure for this sale can be found here. Insiders have sold a total of 152,684 shares of company stock worth $12,831,076 over the last quarter. 0.31% of the stock is owned by company insiders.
Shares of Medtronic plc. (NYSE MDT) opened at $85.45 on Friday. Medtronic plc. has a one year low of $73.59 and a one year high of $89.72. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.05 and a current ratio of 2.40. The company has a market cap of $116,035.38, a price-to-earnings ratio of 23.41, a P/E/G ratio of 2.36 and a beta of 1.00.
Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.08. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The firm had revenue of $7.05 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same period last year, the business earned $1.12 EPS. Medtronic’s revenue for the quarter was down 4.0% compared to the same quarter last year. analysts predict that Medtronic plc. will post 4.77 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Friday, December 29th will be paid a dividend of $0.46 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.84 annualized dividend and a yield of 2.15%. Medtronic’s dividend payout ratio is currently 50.41%.
A number of equities research analysts have recently weighed in on the stock. Evercore ISI assumed coverage on shares of Medtronic in a report on Wednesday, January 3rd. They issued an “outperform” rating and a $92.50 price objective on the stock. Bank of America upgraded shares of Medtronic from a “neutral” rating to a “buy” rating in a report on Tuesday, January 2nd. Oppenheimer restated a “buy” rating on shares of Medtronic in a report on Thursday, December 21st. Argus upgraded shares of Medtronic from a “hold” rating to a “buy” rating and raised their price objective for the company from $81.27 to $95.00 in a report on Tuesday, December 12th. They noted that the move was a valuation call. Finally, BMO Capital Markets raised their price objective on shares of Medtronic to $94.00 and gave the company an “outperform” rating in a report on Tuesday, December 12th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $89.65.
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Medtronic Company Profile
Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.
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