Rosenbaum Jay D. trimmed its position in shares of Medtronic PLC (NYSE:MDT) by 0.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,040 shares of the medical technology company’s stock after selling 120 shares during the period. Medtronic accounts for approximately 3.0% of Rosenbaum Jay D.’s portfolio, making the stock its 9th largest holding. Rosenbaum Jay D.’s holdings in Medtronic were worth $1,562,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in MDT. Rocky Mountain Advisers LLC lifted its position in shares of Medtronic by 100.0% during the second 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 in the last quarter. Spectrum Management Group Inc. lifted its position in shares of Medtronic by 353.8% during the first quarter. Spectrum Management Group Inc. now owns 413 shares of the medical technology company’s stock worth $38,000 after acquiring an additional 322 shares in the last quarter. Mackey Komara & Dankovich LLC purchased a new stake in shares of Medtronic during the first quarter worth $38,000. Motco lifted its position in shares of Medtronic by 159.3% during the first quarter. Motco now owns 516 shares of the medical technology company’s stock worth $47,000 after acquiring an additional 317 shares in the last quarter. Finally, Stuart Chaussee & Associates Inc. purchased a new stake in shares of Medtronic during the first quarter worth $48,000. 80.65% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have issued reports on MDT shares. Royal Bank of Canada dropped their target price on Medtronic to $100.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 28th. Northland Securities restated a “hold” rating and set a $100.00 target price on shares of Medtronic in a research report on Thursday, June 20th. Cowen restated an “outperform” rating and set a $111.00 target price (up previously from $99.00) on shares of Medtronic in a research report on Wednesday. Wells Fargo & Co upgraded Medtronic from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $100.00 to $110.00 in a research report on Tuesday, June 4th. Finally, Oppenheimer set a $110.00 target price on Medtronic and gave the stock a “buy” rating in a research report on Monday, July 15th. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Medtronic presently has an average rating of “Buy” and an average price target of $106.41.
Shares of MDT stock traded up $0.91 on Thursday, reaching $101.84. The company’s stock had a trading volume of 125,724 shares, compared to its average volume of 4,206,267. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.59 and a quick ratio of 2.15. Medtronic PLC has a 12-month low of $81.66 and a 12-month high of $103.95. The firm has a market cap of $135.66 billion, a P/E ratio of 19.46, a P/E/G ratio of 2.59 and a beta of 0.67. The company has a 50 day simple moving average of $100.37.
Medtronic (NYSE:MDT) last issued its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.07. Medtronic had a return on equity of 14.16% and a net margin of 15.15%. The company had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.12 billion. During the same quarter last year, the business posted $1.42 earnings per share. The firm’s revenue was up .0% compared to the same quarter last year. On average, analysts predict that Medtronic PLC will post 5.48 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Monday, July 8th were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Friday, July 5th. This is a boost from Medtronic’s previous quarterly dividend of $0.50. Medtronic’s dividend payout ratio is currently 41.38%.
In related news, SVP Bradley E. Lerman sold 6,599 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $102.02, for a total value of $673,229.98. Following the transaction, the senior vice president now owns 105,960 shares of the company’s stock, valued at $10,810,039.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Richard Kuntz sold 3,438 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $101.12, for a total value of $347,650.56. The disclosure for this sale can be found here. In the last three months, insiders sold 95,701 shares of company stock worth $9,318,744. 0.28% of the stock is owned by 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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