Warren Averett Asset Management LLC raised its stake in shares of Medtronic PLC (NYSE:MDT) by 15.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 4,848 shares of the medical technology company’s stock after purchasing an additional 633 shares during the period. Warren Averett Asset Management LLC’s holdings in Medtronic were worth $477,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the business. Ballew Advisors Inc purchased a new stake in shares of Medtronic in the second quarter worth about $100,000. Fort L.P. purchased a new stake in shares of Medtronic in the second quarter worth about $121,000. Global Trust Asset Management LLC lifted its position 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 in the last quarter. Polaris Greystone Financial Group LLC lifted its position in shares of Medtronic by 255.1% in the third quarter. Polaris Greystone Financial Group LLC now owns 1,321 shares of the medical technology company’s stock worth $130,000 after buying an additional 949 shares in the last quarter. Finally, Trustcore Financial Services LLC lifted its position 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 in the last quarter. 80.00% of the stock is owned by institutional investors and hedge funds.
NYSE:MDT traded up $0.48 during midday trading on Wednesday, hitting $93.00. The stock had a trading volume of 418,815 shares, compared to its average volume of 5,365,412. Medtronic PLC has a one year low of $76.41 and a one year high of $100.15. The stock has a market cap of $123.46 billion, a P/E ratio of 19.50, a price-to-earnings-growth ratio of 2.43 and a beta of 0.94. The company has a quick ratio of 2.06, a current ratio of 2.46 and a debt-to-equity ratio of 0.47.
Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 21st. The medical technology company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.06. Medtronic had a return on equity of 12.98% and a net margin of 10.56%. The company had revenue of $7.38 billion for the quarter, compared to analysts’ expectations of $7.24 billion. During the same quarter in the prior year, the firm earned $1.12 earnings per share. Medtronic’s revenue was down .1% compared to the same quarter last year. On average, sell-side analysts anticipate that Medtronic PLC will post 5.12 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 19th. Investors of record on Friday, September 28th were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $2.00 annualized dividend and a yield of 2.15%. Medtronic’s dividend payout ratio (DPR) is currently 41.93%.
A number of research firms recently commented on MDT. Oppenheimer reiterated a “buy” rating on shares of Medtronic in a research report on Friday, September 21st. BMO Capital Markets upped their price objective on Medtronic from $94.00 to $104.00 and gave the company an “outperform” rating in a research report on Wednesday, August 22nd. Royal Bank of Canada upped their price objective on Medtronic to $104.00 and gave the company an “outperform” rating in a research report on Wednesday, August 22nd. Argus upped their price objective on Medtronic from $108.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, October 8th. Finally, Zacks Investment Research upgraded Medtronic from a “hold” rating to a “buy” rating and set a $105.00 price objective on the stock in a research report on Tuesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Medtronic has a consensus rating of “Buy” and an average target price of $102.58.
In other Medtronic news, EVP Michael J. Coyle sold 145,544 shares of the stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $95.50, for a total transaction of $13,899,452.00. Following the sale, the executive vice president now owns 190,680 shares of the company’s stock, valued at approximately $18,209,940. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard H. Anderson bought 2,600 shares of the company’s stock in a transaction on Thursday, August 23rd. The shares were bought at an average cost of $95.88 per share, for a total transaction of $249,288.00. The disclosure for this purchase can be found here. In the last three months, insiders sold 268,678 shares of company stock worth $25,818,353. 0.28% of the stock is owned by insiders.
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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