Cornerstone Capital Management Holdings LLC. lowered its holdings in Medtronic plc. (NYSE:MDT) by 32.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 308,510 shares of the medical technology company’s stock after selling 147,031 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in Medtronic were worth $24,910,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Quadrant Capital Group LLC increased its position in shares of Medtronic by 21.5% in the second quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock worth $114,000 after acquiring an additional 290 shares in the last quarter. Blue Chip Partners Inc. purchased a new position in shares of Medtronic in the third quarter worth approximately $118,000. Barrett Asset Management LLC increased its position in shares of Medtronic by 856.0% in the fourth quarter. Barrett Asset Management LLC now owns 1,826 shares of the medical technology company’s stock worth $147,000 after acquiring an additional 1,635 shares in the last quarter. Westwood Holdings Group Inc. purchased a new position in shares of Medtronic in the second quarter worth approximately $151,000. Finally, SevenBridge Financial Group LLC increased its position in shares of Medtronic by 76.2% in the third quarter. SevenBridge Financial Group LLC now owns 2,197 shares of the medical technology company’s stock worth $171,000 after acquiring an additional 950 shares in the last quarter. 80.79% of the stock is currently owned by institutional investors.
Shares of Medtronic plc. (NYSE:MDT) opened at $83.47 on Wednesday. The company has a current ratio of 2.43, a quick ratio of 2.09 and a debt-to-equity ratio of 0.51. The company has a market cap of $112,902.58, a P/E ratio of 41.12, a P/E/G ratio of 2.36 and a beta of 0.97. Medtronic plc. has a fifty-two week low of $76.51 and a fifty-two week high of $89.72.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Friday, March 23rd will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Thursday, March 22nd. Medtronic’s dividend payout ratio (DPR) is presently 90.64%.
Several research analysts have recently weighed in on MDT shares. SunTrust Banks set a $92.00 target price on shares of Medtronic and gave the stock a “buy” rating in a research report on Sunday, November 19th. Evercore ISI started coverage on shares of Medtronic in a research report on Wednesday, January 3rd. They issued an “outperform” rating and a $92.50 target price on the stock. Citigroup reissued a “buy” rating and issued a $93.00 target price (down from $100.00) on shares of Medtronic in a research report on Thursday, February 22nd. Oppenheimer reissued a “buy” rating on shares of Medtronic in a research report on Thursday, December 21st. Finally, BMO Capital Markets lifted their target price on shares of Medtronic to $94.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $91.50.
In other Medtronic news, VP Richard Kuntz sold 78,526 shares of Medtronic stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $86.21, for a total value of $6,769,726.46. Following the completion of the sale, the vice president now directly owns 149,761 shares in the company, valued at $12,910,895.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Carol A. Surface sold 24,479 shares of Medtronic stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $78.18, for a total transaction of $1,913,768.22. The disclosure for this sale can be found here. Insiders sold 145,163 shares of company stock valued at $12,232,045 over the last quarter. Corporate insiders own 0.31% of the company’s stock.
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Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.
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