Berman Capital Advisors LLC acquired a new stake in Medtronic PLC (NYSE:MDT) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 2,003 shares of the medical technology company’s stock, valued at approximately $181,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tributary Capital Management LLC acquired a new stake in Medtronic during the 4th quarter worth approximately $27,000. Highwater Wealth Management LLC acquired a new stake in Medtronic during the 4th quarter worth approximately $39,000. IMS Capital Management acquired a new stake in Medtronic during the 3rd quarter worth approximately $41,000. Contravisory Investment Management Inc. lifted its holdings in Medtronic by 220.0% during the 4th quarter. Contravisory Investment Management Inc. now owns 480 shares of the medical technology company’s stock worth $44,000 after purchasing an additional 330 shares during the last quarter. Finally, Karp Capital Management Corp acquired a new stake in Medtronic during the 4th quarter worth approximately $46,000. 80.59% of the stock is owned by institutional investors.
In other Medtronic news, CFO Karen L. Parkhill purchased 3,000 shares of the firm’s stock in a transaction dated Wednesday, January 9th. The shares were bought at an average price of $83.87 per share, for a total transaction of $251,610.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Omar Ishrak purchased 12,000 shares of the firm’s stock in a transaction dated Wednesday, January 9th. The stock was acquired at an average price of $84.05 per share, for a total transaction of $1,008,600.00. The disclosure for this purchase can be found here. Company insiders own 0.28% of the company’s stock.
Shares of MDT opened at $92.66 on Wednesday. Medtronic PLC has a 52-week low of $76.41 and a 52-week high of $100.15. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.92 and a current ratio of 2.36. The firm has a market capitalization of $123.24 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 2.44 and a beta of 0.82.
Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, February 19th. The medical technology company reported $1.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.05. Medtronic had a return on equity of 13.85% and a net margin of 16.10%. The company had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.53 billion. During the same quarter last year, the company posted $1.17 EPS. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities research analysts expect that Medtronic PLC will post 5.15 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Friday, March 22nd will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, March 21st. This represents a $2.00 annualized dividend and a dividend yield of 2.16%. Medtronic’s payout ratio is 41.93%.
Several research firms recently weighed in on MDT. Northland Securities reissued a “hold” rating and set a $84.00 price target on shares of Medtronic in a report on Monday. Oppenheimer reaffirmed a “buy” rating and issued a $104.00 price objective on shares of Medtronic in a report on Tuesday, November 20th. Barclays reaffirmed a “buy” rating and issued a $104.00 price objective on shares of Medtronic in a report on Wednesday, February 20th. Citigroup lifted their price objective on Medtronic from $95.00 to $101.00 and gave the company a “neutral” rating in a report on Monday, February 25th. Finally, Credit Suisse Group started coverage on Medtronic in a report on Monday, December 17th. They issued an “outperform” rating and a $109.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $103.43.
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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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