Chicago Equity Partners LLC lifted its holdings in Medtronic PLC (NYSE:MDT) by 106.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,856 shares of the medical technology company’s stock after purchasing an additional 5,595 shares during the period. Chicago Equity Partners LLC’s holdings in Medtronic were worth $929,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in MDT. Ballew Advisors Inc acquired a new position in shares of Medtronic in the second quarter worth about $100,000. BDO Wealth Advisors LLC boosted its holdings in shares of Medtronic by 99.6% in the first quarter. BDO Wealth Advisors LLC now owns 1,427 shares of the medical technology company’s stock worth $115,000 after buying an additional 712 shares during the period. Global Trust Asset Management LLC boosted its holdings in shares of Medtronic by 112.1% in the second quarter. Global Trust Asset Management LLC now owns 1,523 shares of the medical technology company’s stock worth $130,000 after buying an additional 805 shares during the period. Trustcore Financial Services LLC boosted its holdings in shares of Medtronic by 97.3% in the second quarter. Trustcore Financial Services LLC now owns 1,760 shares of the medical technology company’s stock worth $151,000 after buying an additional 868 shares during the period. Finally, Perigon Wealth Management LLC acquired a new position in shares of Medtronic in the first quarter worth about $196,000. 79.80% of the stock is currently owned by institutional investors.
In related news, EVP Hooman Hakami sold 26,159 shares of the business’s stock in a transaction on Friday, August 31st. The shares were sold at an average price of $96.29, for a total transaction of $2,518,850.11. Following the transaction, the executive vice president now owns 63,046 shares of the company’s stock, valued at $6,070,699.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Bradley E. Lerman sold 8,910 shares of the business’s stock in a transaction on Monday, June 11th. The stock was sold at an average price of $86.82, for a total transaction of $773,566.20. The disclosure for this sale can be found here. Insiders have sold 227,789 shares of company stock worth $21,715,103 in the last ninety days. 0.31% of the stock is currently owned by insiders.
Several brokerages have commented on MDT. Sanford C. Bernstein began coverage on shares of Medtronic in a report on Wednesday, June 27th. They issued a “market perform” rating and a $88.00 target price for the company. BMO Capital Markets raised their target price on shares of Medtronic from $94.00 to $104.00 and gave the stock an “outperform” rating in a report on Wednesday, August 22nd. Royal Bank of Canada raised their target price on shares of Medtronic to $104.00 and gave the stock an “outperform” rating in a report on Wednesday, August 22nd. Oppenheimer restated a “buy” rating and set a $96.00 price target on shares of Medtronic in a report on Thursday, May 24th. Finally, SunTrust Banks raised their price target on shares of Medtronic to $96.00 and gave the stock a “buy” rating in a report on Monday, May 21st. Eight research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $100.61.
NYSE:MDT opened at $96.49 on Friday. Medtronic PLC has a 12 month low of $76.41 and a 12 month high of $97.38. The company has a market capitalization of $130.20 billion, a PE ratio of 20.23, a PEG ratio of 2.55 and a beta of 0.92. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.06 and a current ratio of 2.46.
Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 21st. The medical technology company reported $1.17 EPS for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.06. Medtronic had a net margin of 10.56% and a return on equity of 12.98%. The company had revenue of $7.38 billion for the quarter, compared to analyst estimates of $7.24 billion. During the same quarter last year, the firm posted $1.12 earnings per share. The company’s quarterly revenue was down .1% compared to the same quarter last year. analysts predict that Medtronic PLC will post 5.12 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 19th. Investors of record on Friday, September 28th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Thursday, September 27th. Medtronic’s dividend payout ratio (DPR) is currently 41.93%.
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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