Amica Mutual Insurance Co. boosted its holdings in shares of Medtronic plc. (NYSE:MDT) by 15.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 86,120 shares of the medical technology company’s stock after purchasing an additional 11,525 shares during the quarter. Amica Mutual Insurance Co.’s holdings in Medtronic were worth $6,698,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the stock. Parkside Financial Bank & Trust raised its stake in shares of Medtronic by 22.4% in the second quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock valued at $102,000 after acquiring an additional 210 shares during the period. BDO Wealth Advisors LLC purchased a new stake in shares of Medtronic in the second quarter valued at $103,000. Motco raised its stake in shares of Medtronic by 8.7% in the second quarter. Motco now owns 1,239 shares of the medical technology company’s stock valued at $110,000 after acquiring an additional 99 shares during the period. Quadrant Capital Group LLC raised its stake in shares of Medtronic by 21.5% in the second quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock valued at $114,000 after acquiring an additional 290 shares during the period. Finally, Blue Chip Partners Inc. purchased a new stake in shares of Medtronic in the third quarter valued at $118,000. 81.72% of the stock is currently owned by institutional investors.
In other news, EVP Hooman Hakami sold 26,158 shares of the firm’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $85.00, for a total value of $2,223,430.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Richard Kuntz sold 78,526 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $86.21, for a total transaction of $6,769,726.46. Following the completion of the sale, the vice president now owns 149,761 shares in the company, valued at $12,910,895.81. The disclosure for this sale can be found here. Insiders sold a total of 152,684 shares of company stock worth $12,831,076 over the last 90 days. Company insiders own 0.31% of the company’s stock.
Several brokerages have recently weighed in on MDT. SunTrust Banks reissued a “buy” rating and issued a $96.00 target price on shares of Medtronic in a research note on Monday, October 2nd. Evercore ISI began coverage on shares of Medtronic in a research note on Wednesday, January 3rd. They issued an “outperform” rating and a $92.50 target price on the stock. Jefferies Group reissued a “buy” rating and issued a $96.00 target price on shares of Medtronic in a research note on Thursday, September 28th. Bank of America upgraded shares of Medtronic from a “neutral” rating to a “buy” rating in a report on Tuesday, January 2nd. Finally, Royal Bank of Canada cut their price target on shares of Medtronic from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $89.65.
Medtronic plc. (NYSE:MDT) opened at $85.45 on Friday. The company has a current ratio of 2.40, a quick ratio of 2.05 and a debt-to-equity ratio of 0.50. Medtronic plc. has a 1-year low of $73.59 and a 1-year high of $89.72. The stock has a market cap of $116,040.00, a PE ratio of 23.48, a price-to-earnings-growth ratio of 2.35 and a beta of 0.99.
Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.08. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The company had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same period in the prior year, the business earned $1.12 EPS. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. equities analysts anticipate that Medtronic plc. will post 4.77 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, December 29th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Thursday, December 28th. Medtronic’s dividend payout ratio is currently 50.55%.
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Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.
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