Rothschild Investment Corp IL lowered its position in Medtronic PLC (NYSE:MDT) by 10.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,202 shares of the medical technology company’s stock after selling 2,035 shares during the period. Rothschild Investment Corp IL’s holdings in Medtronic were worth $1,977,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Aviance Capital Partners LLC boosted its stake in shares of Medtronic by 5.1% in the second quarter. Aviance Capital Partners LLC now owns 5,098 shares of the medical technology company’s stock worth $496,000 after acquiring an additional 247 shares during the period. LaFleur & Godfrey LLC boosted its stake in shares of Medtronic by 10.5% in the second quarter. LaFleur & Godfrey LLC now owns 6,341 shares of the medical technology company’s stock worth $618,000 after acquiring an additional 600 shares during the period. Hayden Royal LLC bought a new position in shares of Medtronic in the second quarter worth about $275,000. Rockefeller Capital Management L.P. boosted its stake in shares of Medtronic by 0.6% in the first quarter. Rockefeller Capital Management L.P. now owns 1,357,738 shares of the medical technology company’s stock worth $123,663,000 after acquiring an additional 7,939 shares during the period. Finally, Cim LLC boosted its stake in shares of Medtronic by 12.9% in the second quarter. Cim LLC now owns 4,189 shares of the medical technology company’s stock worth $408,000 after acquiring an additional 480 shares during the period. 81.03% of the stock is owned by institutional investors.
In other Medtronic news, EVP Hooman Hakami sold 82,877 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $107.31, for a total transaction of $8,893,530.87. Following the sale, the executive vice president now directly owns 30,761 shares in the company, valued at $3,300,962.91. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Richard Kuntz sold 3,438 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $101.12, for a total value of $347,650.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 118,339 shares of company stock worth $12,619,053. Company insiders own 0.28% of the company’s stock.
Shares of NYSE:MDT traded up $0.13 during mid-day trading on Friday, reaching $107.55. The stock had a trading volume of 283,396 shares, compared to its average volume of 4,680,946. The company has a current ratio of 2.67, a quick ratio of 2.20 and a debt-to-equity ratio of 0.49. The company has a market cap of $140.89 billion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 2.58 and a beta of 0.64. Medtronic PLC has a 1 year low of $81.66 and a 1 year high of $112.05. The business’s 50 day moving average price is $108.18 and its 200 day moving average price is $97.98.
Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, August 20th. The medical technology company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.08. The company had revenue of $7.49 billion for the quarter, compared to the consensus estimate of $7.40 billion. Medtronic had a return on equity of 14.36% and a net margin of 14.41%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.17 earnings per share. Analysts predict that Medtronic PLC will post 5.56 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, September 27th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $2.16 dividend on an annualized basis and a yield of 2.01%. Medtronic’s dividend payout ratio (DPR) is presently 41.38%.
A number of equities analysts have recently weighed in on MDT shares. Northland Securities reaffirmed a “hold” rating and issued a $100.00 price objective on shares of Medtronic in a research note on Wednesday, August 21st. Raymond James upped their price objective on Medtronic from $105.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. Oppenheimer upped their price objective on Medtronic from $110.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. Barclays upped their price objective on Medtronic from $110.00 to $117.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $133.00 price objective on shares of Medtronic in a research note on Wednesday, August 28th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $113.84.
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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