Lenox Wealth Management Inc. lowered its position in shares of Medtronic PLC (NYSE:MDT) by 0.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,787 shares of the medical technology company’s stock after selling 160 shares during the quarter. Lenox Wealth Management Inc.’s holdings in Medtronic were worth $2,050,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Krane Funds Advisors LLC purchased a new position in Medtronic in the 2nd quarter valued at approximately $25,000. Private Ocean LLC grew its stake in Medtronic by 188.5% in the 3rd quarter. Private Ocean LLC now owns 225 shares of the medical technology company’s stock valued at $25,000 after buying an additional 147 shares in the last quarter. River & Mercantile Asset Management LLP purchased a new position in Medtronic in the 2nd quarter valued at approximately $26,000. Lenox Wealth Advisors LLC grew its stake in Medtronic by 393.3% in the 3rd quarter. Lenox Wealth Advisors LLC now owns 296 shares of the medical technology company’s stock valued at $32,000 after buying an additional 236 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. purchased a new position in Medtronic in the 2nd quarter valued at approximately $34,000. 81.18% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:MDT traded up $0.23 during midday trading on Friday, hitting $107.03. The company had a trading volume of 2,260,267 shares, compared to its average volume of 5,086,191. Medtronic PLC has a 52-week low of $81.66 and a 52-week high of $112.05. The stock’s fifty day moving average price is $107.65 and its 200-day moving average price is $100.69. The company has a market capitalization of $141.59 billion, a PE ratio of 20.50, a P/E/G ratio of 2.59 and a beta of 0.62. The company has a quick ratio of 2.20, a current ratio of 2.67 and a debt-to-equity ratio of 0.49.
Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 20th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping 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 company had revenue of $7.49 billion during the quarter, compared to analyst estimates of $7.40 billion. During the same period in the previous year, the business earned $1.17 earnings per share. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, research analysts forecast that Medtronic PLC will post 5.56 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, September 27th were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.02%. The ex-dividend date was Thursday, September 26th. Medtronic’s dividend payout ratio is presently 41.38%.
A number of research firms recently weighed in on MDT. Wells Fargo & Co lifted their price objective on shares of Medtronic from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Needham & Company LLC restated a “buy” rating and set a $133.00 price target on shares of Medtronic in a research report on Wednesday, August 28th. Royal Bank of Canada set a $110.00 price target on shares of Medtronic and gave the company a “buy” rating in a research report on Friday, August 16th. Northland Securities restated a “hold” rating and set a $100.00 price target on shares of Medtronic in a research report on Wednesday, August 21st. Finally, Bank of America set a $118.00 price target on shares of Medtronic and gave the company a “buy” rating in a research report on Wednesday, August 21st. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $114.33.
In other Medtronic news, EVP Robert John White sold 52,165 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $109.33, for a total value of $5,703,199.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Hooman Hakami sold 82,877 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was 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 of the company’s stock, valued at $3,300,962.91. The disclosure for this sale can be found here. Insiders sold 156,467 shares of company stock valued at $16,900,132 over the last three months. 0.28% of the stock is currently 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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