YHB Investment Advisors Inc. lowered its position in shares of Medtronic PLC (NYSE:MDT) by 8.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,272 shares of the medical technology company’s stock after selling 832 shares during the period. YHB Investment Advisors Inc.’s holdings in Medtronic were worth $843,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Gideon Capital Advisors Inc. bought a new stake in shares of Medtronic during the third quarter valued at approximately $409,000. Clearstead Advisors LLC increased its position in shares of Medtronic by 5.5% during the third quarter. Clearstead Advisors LLC now owns 12,888 shares of the medical technology company’s stock valued at $1,268,000 after acquiring an additional 677 shares in the last quarter. Brightworth bought a new stake in shares of Medtronic during the third quarter valued at approximately $230,000. Alley Co LLC increased its position in shares of Medtronic by 2.9% during the third quarter. Alley Co LLC now owns 56,902 shares of the medical technology company’s stock valued at $5,597,000 after acquiring an additional 1,627 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of Medtronic by 2.1% during the third quarter. Advisors Asset Management Inc. now owns 279,026 shares of the medical technology company’s stock valued at $27,448,000 after acquiring an additional 5,628 shares in the last quarter. 80.79% of the stock is owned by institutional investors.
In other Medtronic news, CEO Omar Ishrak acquired 12,000 shares of the business’s stock in a transaction dated Wednesday, January 9th. The stock was purchased at an average price of $84.05 per share, with a total value of $1,008,600.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Karen L. Parkhill acquired 3,000 shares of the business’s stock in a transaction dated Wednesday, January 9th. The shares were acquired at an average cost of $83.87 per share, with a total value of $251,610.00. The disclosure for this purchase can be found here. Insiders own 0.28% of the company’s stock.
NYSE:MDT opened at $84.84 on Friday. The company has a quick ratio of 2.11, a current ratio of 2.56 and a debt-to-equity ratio of 0.48. Medtronic PLC has a 12 month low of $76.41 and a 12 month high of $100.15. The company has a market capitalization of $113.22 billion, a price-to-earnings ratio of 17.79, a P/E/G ratio of 2.19 and a beta of 0.93.
Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, November 20th. The medical technology company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.07. Medtronic had a net margin of 7.44% and a return on equity of 13.51%. The business had revenue of $7.48 billion during the quarter, compared to the consensus estimate of $7.35 billion. During the same quarter in the previous year, the firm posted $1.07 EPS. The firm’s revenue was up 6.1% on a year-over-year basis. On average, sell-side analysts forecast that Medtronic PLC will post 5.13 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 18th. Stockholders of record on Friday, December 28th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend is Thursday, December 27th. Medtronic’s payout ratio is 41.93%.
Several equities research analysts recently weighed in on the stock. Oppenheimer reissued a “buy” rating on shares of Medtronic in a research report on Friday, September 21st. Morgan Stanley raised their price target on shares of Medtronic from $98.00 to $102.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 2nd. Argus raised their price target on shares of Medtronic from $108.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, October 8th. Zacks Investment Research raised shares of Medtronic from a “hold” rating to a “buy” rating and set a $105.00 price target for the company in a research report on Tuesday, October 23rd. Finally, JPMorgan Chase & Co. raised shares of Medtronic from a “neutral” rating to an “overweight” rating and raised their price target for the company from $100.00 to $109.00 in a research report on Wednesday, December 19th. Nine investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Medtronic currently has an average rating of “Buy” and a consensus price target of $104.38.
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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