Achmea Investment Management B.V. increased its stake in Medtronic PLC (NYSE:MDT) by 215.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,152 shares of the medical technology company’s stock after buying an additional 33,558 shares during the period. Achmea Investment Management B.V.’s holdings in Medtronic were worth $4,833,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Ballew Advisors Inc bought a new stake in Medtronic during the second quarter valued at $100,000. Polaris Greystone Financial Group LLC increased its stake in Medtronic by 255.1% during the third quarter. Polaris Greystone Financial Group LLC now owns 1,321 shares of the medical technology company’s stock valued at $130,000 after purchasing an additional 949 shares during the last quarter. Fort L.P. bought a new stake in Medtronic during the second quarter valued at $121,000. Global Trust Asset Management LLC increased its stake in Medtronic by 112.1% during the second quarter. Global Trust Asset Management LLC now owns 1,523 shares of the medical technology company’s stock valued at $130,000 after purchasing an additional 805 shares during the last quarter. Finally, Trustcore Financial Services LLC increased its stake in Medtronic by 97.3% during the second quarter. Trustcore Financial Services LLC now owns 1,760 shares of the medical technology company’s stock valued at $151,000 after purchasing an additional 868 shares during the last quarter. Institutional investors and hedge funds own 80.00% of the company’s stock.
Several research firms have weighed in on MDT. Zacks Investment Research upgraded shares of Medtronic from a “hold” rating to a “buy” rating and set a $105.00 target price for the company in a research note on Tuesday, October 23rd. Oppenheimer reiterated a “buy” rating and set a $104.00 target price on shares of Medtronic in a research note on Tuesday, August 21st. SunTrust Banks boosted their target price on shares of Medtronic to $110.00 and gave the company a “buy” rating in a research note on Friday, August 24th. Bank of America boosted their target price on shares of Medtronic from $98.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, August 22nd. Finally, Stifel Nicolaus boosted their target price on shares of Medtronic from $87.00 to $96.00 and gave the company a “hold” rating in a research note on Wednesday, August 22nd. Seven research 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 company’s stock. The stock has an average rating of “Buy” and an average price target of $102.58.
In related news, EVP Michael J. Coyle sold 145,544 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $95.50, for a total value of $13,899,452.00. Following the completion of the sale, the executive vice president now owns 190,680 shares of the company’s stock, valued at $18,209,940. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard H. Anderson acquired 2,600 shares of Medtronic stock in a transaction that occurred on Thursday, August 23rd. The stock was bought at an average cost of $95.88 per share, with a total value of $249,288.00. The disclosure for this purchase can be found here. Insiders sold 268,678 shares of company stock valued at $25,818,353 in the last ninety days. Corporate insiders own 0.28% of the company’s stock.
Medtronic stock opened at $94.36 on Friday. The stock has a market cap of $124.94 billion, a PE ratio of 19.78, a PEG ratio of 2.46 and a beta of 0.94. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.46 and a quick ratio of 2.06. Medtronic PLC has a one year low of $76.41 and a one year high of $100.15.
Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 21st. The medical technology company reported $1.17 EPS for the quarter, topping the consensus estimate of $1.11 by $0.06. The business had revenue of $7.38 billion during the quarter, compared to analyst estimates of $7.24 billion. Medtronic had a net margin of 10.56% and a return on equity of 12.98%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.12 earnings per share. Equities research analysts predict that Medtronic PLC will post 5.12 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 19th. Stockholders of record on Friday, September 28th were given a dividend of $0.50 per share. The ex-dividend date was Thursday, September 27th. This represents a $2.00 annualized dividend and a dividend yield of 2.12%. Medtronic’s dividend payout ratio is currently 41.93%.
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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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