Locust Wood Capital Advisers LLC raised its holdings in Medtronic PLC (NYSE:MDT) by 1.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 304,570 shares of the medical technology company’s stock after purchasing an additional 3,910 shares during the quarter. Medtronic accounts for 2.1% of Locust Wood Capital Advisers LLC’s investment portfolio, making the stock its 19th largest position. Locust Wood Capital Advisers LLC’s holdings in Medtronic were worth $29,961,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the business. Regal Investment Advisors LLC grew its stake in Medtronic by 195.5% in the 3rd quarter. Regal Investment Advisors LLC now owns 25,931 shares of the medical technology company’s stock valued at $2,551,000 after purchasing an additional 17,157 shares during the period. Park Avenue Securities LLC lifted its position in shares of Medtronic by 20.9% during the 3rd quarter. Park Avenue Securities LLC now owns 7,782 shares of the medical technology company’s stock valued at $774,000 after buying an additional 1,346 shares during the last quarter. IFG Advisory LLC lifted its position in shares of Medtronic by 5.7% during the 3rd quarter. IFG Advisory LLC now owns 13,845 shares of the medical technology company’s stock valued at $1,362,000 after buying an additional 741 shares during the last quarter. Dividend Assets Capital LLC lifted its position in shares of Medtronic by 5.1% during the 3rd quarter. Dividend Assets Capital LLC now owns 56,206 shares of the medical technology company’s stock valued at $5,529,000 after buying an additional 2,734 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of Medtronic by 8.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 233,667 shares of the medical technology company’s stock valued at $22,986,000 after buying an additional 17,524 shares during the last quarter. Hedge funds and other institutional investors own 80.00% of the company’s stock.
A number of research analysts have recently commented on the company. Oppenheimer reaffirmed a “buy” rating on shares of Medtronic in a research report on Friday, September 21st. BMO Capital Markets upped their price target 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 target on Medtronic to $104.00 and gave the company an “outperform” rating in a research report on Wednesday, August 22nd. Argus upped their price target 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 raised Medtronic from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a research report on Tuesday, October 23rd. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $102.58.
Shares of MDT opened at $94.36 on Friday. The stock has a market cap of $127.11 billion, a P/E ratio of 19.49, a P/E/G ratio of 2.50 and a beta of 0.94. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.06 and a current ratio of 2.46. Medtronic PLC has a 52-week low of $76.41 and a 52-week high of $100.15.
Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, August 21st. The medical technology company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.06. The business had revenue of $7.38 billion for the quarter, compared to analysts’ expectations of $7.24 billion. Medtronic had a return on equity of 12.98% and a net margin of 10.56%. The firm’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.12 EPS. As a group, research analysts expect that Medtronic PLC will post 5.12 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 19th. Investors of record on Friday, September 28th were issued a dividend of $0.50 per share. The ex-dividend date was Thursday, September 27th. This represents a $2.00 dividend on an annualized basis and a yield of 2.12%. Medtronic’s dividend payout ratio (DPR) is 41.93%.
In related news, Director Richard H. Anderson acquired 2,600 shares of the company’s stock in a transaction that occurred on Thursday, August 23rd. The shares were acquired at an average price of $95.88 per share, with a total value of $249,288.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Geoffrey Martha sold 49,799 shares of the stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $97.93, for a total value of $4,876,816.07. Following the sale, the executive vice president now directly owns 87,872 shares in the company, valued at approximately $8,605,304.96. The disclosure for this sale can be found here. Insiders have sold a total of 268,678 shares of company stock worth $25,818,353 in the last three months. 0.28% of the stock is currently owned by insiders.
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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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