NTV Asset Management LLC trimmed its position in shares of Medtronic plc. (NYSE:MDT) by 11.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 11,436 shares of the medical technology company’s stock after selling 1,446 shares during the quarter. NTV Asset Management LLC’s holdings in Medtronic were worth $889,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Parkside Financial Bank & Trust lifted its stake in Medtronic by 22.4% during the 2nd 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 bought a new position in Medtronic during the 2nd quarter valued at about $103,000. Motco lifted its stake in Medtronic by 8.7% during the 2nd 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 lifted its stake in Medtronic by 21.5% during the 2nd 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, Birch Hill Investment Advisors LLC bought a new position in Medtronic during the 1st quarter valued at about $120,000. 81.72% of the stock is currently owned by institutional investors.
In other Medtronic news, VP Richard Kuntz sold 78,526 shares of the stock in a transaction that occurred on 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 directly owns 149,761 shares of the company’s stock, valued at approximately $12,910,895.81. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $79.02, for a total transaction of $1,264,320.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 152,684 shares of company stock valued at $12,831,076. Insiders own 0.31% of the company’s stock.
Shares of Medtronic plc. (NYSE:MDT) traded down $0.28 on Friday, reaching $85.45. 5,069,500 shares of the company’s stock were exchanged, compared to its average volume of 4,960,000. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.05 and a current ratio of 2.40. Medtronic plc. has a twelve month low of $73.59 and a twelve month high of $89.72. The stock has a market cap of $116,040.00, a price-to-earnings ratio of 23.48, a P/E/G ratio of 2.35 and a beta of 0.99.
Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.08. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The business had revenue of $7.05 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same period last year, the firm posted $1.12 EPS. The company’s revenue was down 4.0% on a year-over-year basis. equities research analysts expect that Medtronic plc. will post 4.77 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Thursday, December 28th. Medtronic’s dividend payout ratio (DPR) is currently 50.55%.
MDT has been the topic of several recent research reports. Stifel Nicolaus increased their price objective on shares of Medtronic from $83.00 to $85.00 and gave the stock a “hold” rating in a research note on Wednesday, November 22nd. SunTrust Banks reiterated a “buy” rating and issued a $96.00 price objective on shares of Medtronic in a research note on Friday, November 3rd. BMO Capital Markets reiterated an “outperform” rating and issued a $89.00 price objective (down previously from $92.00) on shares of Medtronic in a research note on Tuesday, October 10th. Needham & Company LLC lowered their price objective on shares of Medtronic from $95.00 to $94.00 and set a “buy” rating on the stock in a research note on Tuesday, October 10th. Finally, Oppenheimer reiterated a “buy” rating and issued a $94.00 price objective on shares of Medtronic in a research note on Wednesday, November 22nd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Medtronic presently has a consensus rating of “Buy” and an average price target of $89.65.
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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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