QS Investors LLC decreased its holdings in Medtronic plc. (NYSE:MDT) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 73,223 shares of the medical technology company’s stock after selling 1,442 shares during the quarter. QS Investors LLC’s holdings in Medtronic were worth $5,913,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in the company. Caxton Associates LP raised its stake in shares of Medtronic by 133.0% in the 4th quarter. Caxton Associates LP now owns 16,777 shares of the medical technology company’s stock valued at $1,355,000 after buying an additional 9,577 shares in the last quarter. Advisor Group Inc. grew its holdings in shares of Medtronic by 18.1% in the 4th quarter. Advisor Group Inc. now owns 92,162 shares of the medical technology company’s stock worth $7,444,000 after purchasing an additional 14,104 shares during the last quarter. Dynamic Capital Management Ltd grew its holdings in shares of Medtronic by 72.1% in the 4th quarter. Dynamic Capital Management Ltd now owns 13,380 shares of the medical technology company’s stock worth $1,080,000 after purchasing an additional 5,607 shares during the last quarter. Granite Springs Asset Management LLC bought a new stake in shares of Medtronic in the 4th quarter worth about $276,000. Finally, Cypress Capital Group bought a new stake in shares of Medtronic in the 4th quarter worth about $233,000. Institutional investors own 80.79% of the company’s stock.
Shares of Medtronic plc. (MDT) opened at $83.47 on Wednesday. Medtronic plc. has a fifty-two week low of $76.51 and a fifty-two week high of $89.72. 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 PE ratio of 17.76, a price-to-earnings-growth ratio of 2.36 and a beta of 0.97.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Friday, March 23rd will be issued a dividend of $0.46 per share. 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 is currently 90.64%.
In other Medtronic news, VP Richard Kuntz sold 78,526 shares of the company’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $86.21, for a total transaction of $6,769,726.46. Following the transaction, the vice president now directly owns 149,761 shares in the company, valued at approximately $12,910,895.81. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $82.82, for a total transaction of $1,325,120.00. Following the transaction, the executive vice president now owns 88,818 shares in the company, valued at $7,355,906.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 145,163 shares of company stock worth $12,232,045. Insiders own 0.31% of the company’s stock.
Several research firms have recently weighed in on MDT. Citigroup reaffirmed a “buy” rating and issued a $93.00 target price (down previously from $100.00) on shares of Medtronic in a report on Thursday, February 22nd. TheStreet lowered shares of Medtronic from a “b” rating to a “c+” rating in a report on Tuesday, February 20th. Oppenheimer reaffirmed a “buy” rating and issued a $94.00 target price on shares of Medtronic in a report on Tuesday, February 20th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $92.00 target price on shares of Medtronic in a report on Wednesday, February 14th. Finally, Morgan Stanley upped their target price on shares of Medtronic from $91.00 to $95.00 and gave the stock an “equal weight” rating in a report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $91.50.
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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