BB&T Securities LLC lifted its stake in shares of Medtronic PLC (NYSE:MDT) by 11.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 448,452 shares of the medical technology company’s stock after purchasing an additional 44,886 shares during the quarter. BB&T Securities LLC’s holdings in Medtronic were worth $40,790,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Medtronic by 1.1% in the third quarter. Vanguard Group Inc. now owns 109,447,687 shares of the medical technology company’s stock worth $10,766,369,000 after acquiring an additional 1,199,118 shares in the last quarter. Vanguard Group Inc raised its position in Medtronic by 1.1% in the third quarter. Vanguard Group Inc now owns 109,447,687 shares of the medical technology company’s stock worth $10,766,369,000 after acquiring an additional 1,199,118 shares in the last quarter. Bank of New York Mellon Corp raised its position in Medtronic by 89,912.5% in the third quarter. Bank of New York Mellon Corp now owns 17,012,355 shares of the medical technology company’s stock worth $1,673,505,000 after acquiring an additional 16,993,455 shares in the last quarter. American Century Companies Inc. raised its position in Medtronic by 22.3% in the third quarter. American Century Companies Inc. now owns 7,925,640 shares of the medical technology company’s stock worth $779,645,000 after acquiring an additional 1,443,303 shares in the last quarter. Finally, Nordea Investment Management AB bought a new stake in Medtronic in the third quarter worth about $738,453,000. Institutional investors and hedge funds own 81.62% of the company’s stock.
Shares of MDT opened at $90.67 on Thursday. The stock has a market capitalization of $120.35 billion, a P/E ratio of 19.01, a P/E/G ratio of 2.37 and a beta of 0.82. Medtronic PLC has a 1-year low of $76.41 and a 1-year high of $100.15. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.11 and a current ratio of 2.56.
Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 20th. The medical technology company reported $1.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.07. Medtronic had a return on equity of 13.51% and a net margin of 7.44%. The company had revenue of $7.48 billion for the quarter, compared to analysts’ expectations of $7.35 billion. During the same quarter in the previous year, the business posted $1.07 EPS. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities analysts forecast that Medtronic PLC will post 5.13 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 18th. Shareholders of record on Friday, December 28th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, December 27th. This represents a $2.00 annualized dividend and a yield of 2.21%. Medtronic’s dividend payout ratio (DPR) is presently 41.93%.
In other Medtronic news, CFO Karen L. Parkhill bought 3,000 shares of the stock in a transaction on Wednesday, January 9th. The shares were bought at an average price of $83.87 per share, with a total value of $251,610.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Omar Ishrak bought 12,000 shares of the stock in a transaction on Wednesday, January 9th. The shares were acquired at an average cost of $84.05 per share, for a total transaction of $1,008,600.00. The disclosure for this purchase can be found here. Insiders own 0.28% of the company’s stock.
Several equities research analysts have commented on MDT shares. Zacks Investment Research upgraded shares of 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. Oppenheimer reissued a “buy” rating and issued a $104.00 price target on shares of Medtronic in a research note on Tuesday, November 20th. Raymond James dropped their price target on Medtronic from $105.00 to $104.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 21st. UBS Group assumed coverage on Medtronic in a research note on Wednesday, November 28th. They issued a “buy” rating and a $112.00 price target on the stock. Finally, Credit Suisse Group assumed coverage on Medtronic in a research note on Monday, December 17th. They issued an “outperform” rating and a $109.00 price target on the stock. Nine equities 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 company. The stock currently has an average rating of “Buy” and a consensus target price of $104.09.
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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.
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