Bartlett & Co. LLC boosted its position in shares of Medtronic PLC (NYSE:MDT) by 1,596.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,866 shares of the medical technology company’s stock after buying an additional 34,693 shares during the quarter. Bartlett & Co. LLC’s holdings in Medtronic were worth $4,004,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. NTV Asset Management LLC boosted its stake in shares of Medtronic by 0.6% during the third quarter. NTV Asset Management LLC now owns 22,536 shares of the medical technology company’s stock valued at $2,448,000 after purchasing an additional 128 shares during the period. Fulcrum Capital LLC boosted its stake in shares of Medtronic by 106.6% during the third quarter. Fulcrum Capital LLC now owns 4,457 shares of the medical technology company’s stock valued at $484,000 after purchasing an additional 2,300 shares during the period. Strategic Wealth Advisors Group LLC bought a new stake in shares of Medtronic in the third quarter valued at about $1,254,000. Abacus Planning Group Inc. bought a new stake in shares of Medtronic in the third quarter valued at about $370,000. Finally, Schulhoff & Co. Inc. raised its holdings in shares of Medtronic by 5.6% in the third quarter. Schulhoff & Co. Inc. now owns 20,774 shares of the medical technology company’s stock valued at $2,256,000 after acquiring an additional 1,100 shares in the last quarter. 81.18% of the stock is owned by institutional investors.
In other news, EVP Hooman Hakami sold 82,877 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $107.31, for a total transaction of $8,893,530.87. Following the transaction, the executive vice president now owns 30,761 shares in the company, valued at $3,300,962.91. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert John White sold 52,165 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $109.33, for a total transaction of $5,703,199.45. The disclosure for this sale can be found here. Insiders sold 156,467 shares of company stock valued at $16,900,132 over the last quarter. 0.28% of the stock is currently owned by corporate insiders.
Medtronic stock traded down $0.04 during trading hours on Friday, reaching $106.76. The stock had a trading volume of 1,285,491 shares, compared to its average volume of 3,434,248. The company has a market cap of $141.59 billion, a price-to-earnings ratio of 20.45, a PEG ratio of 2.59 and a beta of 0.62. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.67 and a quick ratio of 2.20. The business’s 50 day moving average price is $107.73 and its 200-day moving average price is $100.58. Medtronic PLC has a 52 week low of $81.66 and a 52 week high of $112.05.
Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 20th. The medical technology company reported $1.26 EPS for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.08. The business had revenue of $7.49 billion during the quarter, compared to the consensus estimate of $7.40 billion. Medtronic had a net margin of 14.41% and a return on equity of 14.36%. The firm’s revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.17 earnings per share. On average, sell-side analysts forecast that Medtronic PLC will post 5.56 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, September 27th were issued a $0.54 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $2.16 dividend on an annualized basis and a yield of 2.02%. Medtronic’s dividend payout ratio is presently 41.38%.
MDT has been the subject of several recent research reports. Morgan Stanley lifted their price objective on Medtronic from $105.00 to $111.00 and gave the company an “equal weight” rating in a report on Wednesday, August 21st. Bank of America set a $118.00 price objective on Medtronic and gave the company a “buy” rating in a report on Wednesday, August 21st. UBS Group lifted their price objective on Medtronic from $112.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Stifel Nicolaus lifted their price objective on Medtronic from $95.00 to $112.00 and gave the company a “hold” rating in a report on Wednesday, August 21st. Finally, Raymond James lifted their price objective on Medtronic from $105.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $114.33.
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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