Schonfeld Strategic Advisors LLC increased its stake in Medtronic PLC (NYSE:MDT) by 137.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,680 shares of the medical technology company’s stock after acquiring an additional 65,273 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in Medtronic were worth $10,334,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Evolution Wealth Advisors LLC increased its stake in shares of Medtronic by 403.7% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 272 shares of the medical technology company’s stock valued at $25,000 after acquiring an additional 218 shares in the last quarter. Price Wealth LLC increased its stake in shares of Medtronic by 73.2% in the 2nd quarter. Price Wealth LLC now owns 291 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 123 shares in the last quarter. JFS Wealth Advisors LLC increased its stake in shares of Medtronic by 64.6% in the 2nd quarter. JFS Wealth Advisors LLC now owns 311 shares of the medical technology company’s stock valued at $29,000 after acquiring an additional 122 shares in the last quarter. Balentine LLC bought a new stake in shares of Medtronic in the 1st quarter valued at $33,000. Finally, Hoey Investments Inc. bought a new stake in shares of Medtronic in the 2nd quarter valued at $46,000. Institutional investors own 79.90% of the company’s stock.
In related news, CFO Karen L. Parkhill sold 702 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $107.78, for a total value of $75,661.56. Following the sale, the chief financial officer now directly owns 87,366 shares in the company, valued at approximately $9,416,307.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Hoedt Rob Ten sold 9,563 shares of the business’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $105.05, for a total value of $1,004,593.15. Following the completion of the sale, the executive vice president now owns 53,060 shares in the company, valued at $5,573,953. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.
A number of analysts have commented on MDT shares. Raymond James boosted their price target on shares of Medtronic from $107.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, August 26th. Wolfe Research started coverage on shares of Medtronic in a research note on Friday, September 11th. They set a “peer perform” rating and a $115.00 price target for the company. Cfra upgraded shares of Medtronic from a “buy” rating to a “strong-buy” rating and decreased their price target for the company from $127.00 to $121.00 in a research note on Thursday, May 21st. UBS Group decreased their price target on shares of Medtronic from $130.00 to $118.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. Finally, Zacks Investment Research lowered shares of Medtronic from a “hold” rating to a “strong sell” rating and set a $84.00 price target for the company. in a research note on Wednesday, July 29th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Medtronic has a consensus rating of “Buy” and a consensus price target of $115.75.
Medtronic stock traded down $0.08 during midday trading on Wednesday, reaching $107.49. The stock had a trading volume of 3,685,569 shares, compared to its average volume of 6,011,681. Medtronic PLC has a 12 month low of $72.13 and a 12 month high of $122.15. The firm’s 50-day moving average price is $101.92 and its 200 day moving average price is $96.42. The firm has a market capitalization of $144.49 billion, a PE ratio of 33.06, a P/E/G ratio of 3.41 and a beta of 0.68. The company has a quick ratio of 1.53, a current ratio of 1.87 and a debt-to-equity ratio of 0.45.
Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 25th. The medical technology company reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.41. Medtronic had a return on equity of 10.47% and a net margin of 15.80%. The business had revenue of $6.51 billion for the quarter, compared to analysts’ expectations of $5.48 billion. During the same period in the previous year, the business posted $1.26 EPS. The firm’s quarterly revenue was down 13.2% compared to the same quarter last year. Equities research analysts expect that Medtronic PLC will post 3.96 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 25th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Thursday, September 24th. Medtronic’s dividend payout ratio is currently 50.54%.
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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