US Bancorp DE lessened its holdings in shares of Medtronic plc. (NYSE:MDT) by 0.9% in the fourth quarter, HoldingsChannel reports. The firm owned 1,022,507 shares of the medical technology company’s stock after selling 9,243 shares during the period. US Bancorp DE’s holdings in Medtronic were worth $82,568,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. BDO Wealth Advisors LLC purchased a new position in shares of Medtronic in the 2nd quarter worth about $103,000. Motco boosted its holdings in shares of Medtronic by 8.7% in the 2nd quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after buying an additional 99 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Medtronic by 21.5% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock worth $114,000 after buying an additional 290 shares during the last quarter. Blue Chip Partners Inc. purchased a new position in shares of Medtronic in the 3rd quarter worth about $118,000. Finally, Westwood Holdings Group Inc. purchased a new stake in Medtronic during the second quarter valued at about $151,000. Institutional investors and hedge funds own 81.97% of the company’s stock.
Shares of Medtronic plc. (MDT) opened at $84.45 on Monday. Medtronic plc. has a fifty-two week low of $75.44 and a fifty-two week high of $89.72. The stock has a market cap of $114,302.90, a PE ratio of 23.14, a PEG ratio of 2.33 and a beta of 0.93. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.40 and a quick ratio of 2.05.
Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $7.05 billion. During the same period in the prior year, the firm posted $1.12 earnings per share. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. research analysts predict that Medtronic plc. will post 4.76 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, January 19th. Stockholders of record on Friday, December 29th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend was Thursday, December 28th. Medtronic’s payout ratio is 50.41%.
Several equities research analysts have commented on the stock. SunTrust Banks set a $92.00 price objective on shares of Medtronic and gave the company a “buy” rating in a report on Sunday, November 19th. Royal Bank of Canada dropped their price objective on shares of Medtronic from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, October 9th. Oppenheimer set a $94.00 price objective on shares of Medtronic and gave the company a “buy” rating in a report on Friday, January 19th. Northland Securities reaffirmed a “hold” rating and set a $80.00 price objective on shares of Medtronic in a report on Wednesday, November 22nd. Finally, Zacks Investment Research raised shares of Medtronic from a “sell” rating to a “hold” rating in a report on Thursday, November 23rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company’s stock. Medtronic has an average rating of “Buy” and an average target price of $89.65.
In related news, VP Richard Kuntz sold 78,526 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $86.21, for a total value of $6,769,726.46. Following the transaction, the vice president now directly owns 149,761 shares in the company, valued at $12,910,895.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $82.82, for a total transaction of $1,325,120.00. Following the completion of the transaction, the executive vice president now owns 88,818 shares in the company, valued at $7,355,906.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 136,684 shares of company stock worth $11,582,596. Insiders own 0.31% of the company’s stock.
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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