Haverford Trust Co. lowered its position in Medtronic PLC (NYSE:MDT) by 34.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 712,584 shares of the medical technology company’s stock after selling 367,185 shares during the period. Medtronic accounts for 1.4% of Haverford Trust Co.’s portfolio, making the stock its 29th largest holding. Haverford Trust Co. owned 0.05% of Medtronic worth $64,817,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Cohen Lawrence B increased its holdings in Medtronic by 1.3% in the fourth quarter. Cohen Lawrence B now owns 33,364 shares of the medical technology company’s stock worth $3,035,000 after buying an additional 429 shares during the last quarter. Stanley Laman Group Ltd. increased its holdings in Medtronic by 2.3% in the fourth quarter. Stanley Laman Group Ltd. now owns 11,702 shares of the medical technology company’s stock worth $1,064,000 after buying an additional 266 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in Medtronic by 2.1% during the third quarter. Advisors Asset Management Inc. now owns 279,026 shares of the medical technology company’s stock valued at $27,448,000 after purchasing an additional 5,628 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in Medtronic by 3.4% during the fourth quarter. State of Alaska Department of Revenue now owns 196,530 shares of the medical technology company’s stock valued at $17,874,000 after purchasing an additional 6,432 shares during the last quarter. Finally, Gideon Capital Advisors Inc. acquired a new position in Medtronic during the third quarter valued at approximately $409,000. Hedge funds and other institutional investors own 80.59% of the company’s stock.
Shares of MDT stock opened at $93.79 on Friday. The firm has a market capitalization of $125.79 billion, a P/E ratio of 19.66, a PEG ratio of 2.40 and a beta of 0.82. Medtronic PLC has a one year low of $76.41 and a one year high of $100.15. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.36 and a quick ratio of 1.92.
Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, February 19th. The medical technology company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.24 by $0.05. The firm had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.53 billion. Medtronic had a return on equity of 13.85% and a net margin of 16.10%. Medtronic’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the business earned $1.17 earnings per share. As a group, sell-side analysts predict that Medtronic PLC will post 5.15 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Friday, March 22nd will be given a $0.50 dividend. The ex-dividend date is Thursday, March 21st. This represents a $2.00 annualized dividend and a yield of 2.13%. Medtronic’s dividend payout ratio (DPR) is currently 41.93%.
In related news, CEO Omar Ishrak acquired 12,000 shares of the company’s stock in a transaction on Wednesday, January 9th. The stock was purchased at an average cost of $84.05 per share, for a total transaction of $1,008,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Karen L. Parkhill acquired 3,000 shares of the company’s 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 disclosure for this purchase can be found here. 0.28% of the stock is owned by company insiders.
MDT has been the topic of several analyst reports. BTIG Research upgraded Medtronic from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a report on Tuesday, January 15th. JPMorgan Chase & Co. upgraded Medtronic from a “neutral” rating to an “overweight” rating and increased their price target for the company from $100.00 to $109.00 in a report on Wednesday, December 19th. Oppenheimer reiterated a “buy” rating and set a $104.00 price target on shares of Medtronic in a report on Tuesday, November 20th. Barclays lowered their price target on Medtronic from $113.00 to $104.00 and set an “overweight” rating on the stock in a report on Tuesday, January 8th. Finally, ValuEngine downgraded Medtronic from a “buy” rating to a “hold” rating in a report on Monday, January 7th. Nine 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 stock. Medtronic presently has a consensus rating of “Buy” and a consensus price target of $104.32.
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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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