Burns J W & Co. Inc. NY increased its stake in Medtronic PLC (NYSE:MDT) by 2.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,433 shares of the medical technology company’s stock after buying an additional 225 shares during the period. Burns J W & Co. Inc. NY’s holdings in Medtronic were worth $916,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the stock. Krane Funds Advisors LLC acquired a new stake in Medtronic in the second quarter worth about $25,000. River & Mercantile Asset Management LLP acquired a new stake in Medtronic in the second quarter worth about $26,000. Lenox Wealth Advisors LLC lifted its holdings in Medtronic by 393.3% in the third quarter. Lenox Wealth Advisors LLC now owns 296 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 236 shares during the period. Redhawk Wealth Advisors Inc. acquired a new stake in Medtronic in the second quarter worth about $34,000. Finally, Rocky Mountain Advisers LLC lifted its holdings in Medtronic by 100.0% in the second quarter. Rocky Mountain Advisers LLC now owns 400 shares of the medical technology company’s stock worth $39,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 81.03% of the company’s stock.
Medtronic stock traded up $0.53 during midday trading on Friday, hitting $107.95. The company’s stock had a trading volume of 125,546 shares, compared to its average volume of 4,680,946. The company has a quick ratio of 2.20, a current ratio of 2.67 and a debt-to-equity ratio of 0.49. The stock’s 50-day moving average price is $108.18 and its 200-day moving average price is $97.98. Medtronic PLC has a 12 month low of $81.66 and a 12 month high of $112.05. The company has a market capitalization of $140.89 billion, a PE ratio of 20.69, a price-to-earnings-growth ratio of 2.58 and a beta of 0.64.
Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.26 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 firm had revenue of $7.49 billion for the quarter, compared to analysts’ expectations of $7.40 billion. During the same period in the previous year, the business earned $1.17 earnings per share. Medtronic’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, equities analysts anticipate that Medtronic PLC will post 5.56 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $2.16 annualized dividend and a yield of 2.00%. Medtronic’s payout ratio is presently 41.38%.
Several research firms recently weighed in on MDT. Northland Securities reaffirmed a “hold” rating and issued a $100.00 price objective on shares of Medtronic in a report on Wednesday, August 21st. Wells Fargo & Co upped their price objective on shares of Medtronic from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. BTIG Research upped their price objective on shares of Medtronic to $120.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Stifel Nicolaus boosted their price target on shares of Medtronic from $95.00 to $112.00 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Finally, ValuEngine cut shares of Medtronic from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $113.84.
In other Medtronic news, SVP Richard Kuntz sold 3,438 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $101.12, for a total transaction of $347,650.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Hooman Hakami sold 82,877 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $107.31, for a total value of $8,893,530.87. Following the sale, the executive vice president now owns 30,761 shares in the company, valued at approximately $3,300,962.91. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 118,339 shares of company stock worth $12,619,053. Corporate insiders own 0.28% of the company’s stock.
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.
Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic PLC (NYSE:MDT).
Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.