Haverford Financial Services Inc. lessened its stake in shares of Medtronic PLC (NYSE:MDT) by 52.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 48,956 shares of the medical technology company’s stock after selling 54,268 shares during the period. Medtronic comprises approximately 1.8% of Haverford Financial Services Inc.’s investment portfolio, making the stock its 24th biggest holding. Haverford Financial Services Inc.’s holdings in Medtronic were worth $4,453,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Chilton Capital Management LLC increased its holdings in Medtronic by 749.6% during the fourth quarter. Chilton Capital Management LLC now owns 120,524 shares of the medical technology company’s stock valued at $10,963,000 after buying an additional 106,338 shares during the period. Great West Life Assurance Co. Can increased its holdings in Medtronic by 5.2% during the fourth quarter. Great West Life Assurance Co. Can now owns 1,981,102 shares of the medical technology company’s stock valued at $174,917,000 after buying an additional 98,686 shares during the period. Wisconsin Capital Management LLC purchased a new position in Medtronic during the fourth quarter valued at approximately $1,524,000. Banco Santander S.A. increased its holdings in Medtronic by 0.6% during the fourth quarter. Banco Santander S.A. now owns 35,971 shares of the medical technology company’s stock valued at $3,272,000 after buying an additional 209 shares during the period. Finally, Employees Retirement System of Texas increased its holdings in Medtronic by 10.4% during the fourth quarter. Employees Retirement System of Texas now owns 442,000 shares of the medical technology company’s stock valued at $40,204,000 after buying an additional 41,550 shares during the period. 80.59% of the stock is owned by hedge funds and other institutional investors.
MDT has been the topic of several research reports. Citigroup lowered shares of Medtronic from a “buy” rating to a “neutral” rating and cut their price objective for the company from $109.00 to $96.00 in a report on Wednesday, January 2nd. ValuEngine lowered shares of Medtronic from a “buy” rating to a “hold” rating in a report on Monday, January 7th. JPMorgan Chase & Co. raised shares of Medtronic from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $100.00 to $109.00 in a report on Wednesday, December 19th. Morgan Stanley lifted their price objective on shares of Medtronic from $98.00 to $102.00 and gave the company an “equal weight” rating in a report on Wednesday, January 2nd. Finally, Deutsche Bank initiated coverage on shares of Medtronic in a report on Wednesday, January 2nd. They set a “buy” rating and a $99.00 price objective on the stock. 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 company’s stock. Medtronic currently has an average rating of “Buy” and an average target price of $104.32.
In related news, CFO Karen L. Parkhill acquired 3,000 shares of the stock in a transaction dated Wednesday, January 9th. The stock was acquired at an average cost of $83.87 per share, for a total transaction of $251,610.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Omar Ishrak acquired 12,000 shares of the stock in a transaction dated Wednesday, January 9th. The shares were bought at an average price of $84.05 per share, with a total value of $1,008,600.00. The disclosure for this purchase can be found here. Insiders own 0.28% of the company’s stock.
NYSE MDT opened at $93.79 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.92 and a current ratio of 2.36. Medtronic PLC has a 12-month low of $76.41 and a 12-month high of $100.15. The firm has a market capitalization of $125.79 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 2.40 and a beta of 0.82.
Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 19th. The medical technology company reported $1.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.05. Medtronic had a net margin of 16.10% and a return on equity of 13.85%. The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.53 billion. During the same period in the previous year, the firm posted $1.17 earnings per share. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. Sell-side analysts anticipate that Medtronic PLC will post 5.15 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Friday, March 22nd will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, March 21st. This represents a $2.00 annualized dividend and a dividend yield of 2.13%. Medtronic’s payout ratio is currently 41.93%.
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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