Wasatch Advisors Inc. lessened its stake in shares of Medtronic plc. (NYSE:MDT) by 48.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,631 shares of the medical technology company’s stock after selling 54,793 shares during the quarter. Wasatch Advisors Inc.’s holdings in Medtronic were worth $4,734,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Trust Co. of Toledo NA OH raised its position in Medtronic by 6.4% in the 2nd quarter. Trust Co. of Toledo NA OH now owns 11,030 shares of the medical technology company’s stock valued at $979,000 after purchasing an additional 664 shares during the last quarter. Fisher Asset Management LLC raised its position in Medtronic by 2,485.0% in the 2nd quarter. Fisher Asset Management LLC now owns 183,765 shares of the medical technology company’s stock valued at $16,309,000 after purchasing an additional 176,656 shares during the last quarter. Somerset Trust Co raised its position in Medtronic by 3.8% in the 2nd quarter. Somerset Trust Co now owns 59,523 shares of the medical technology company’s stock valued at $5,283,000 after purchasing an additional 2,201 shares during the last quarter. Howe & Rusling Inc. raised its position in Medtronic by 3.4% in the 2nd quarter. Howe & Rusling Inc. now owns 84,035 shares of the medical technology company’s stock valued at $7,458,000 after purchasing an additional 2,725 shares during the last quarter. Finally, Liberty Capital Management Inc. raised its position in Medtronic by 9.5% in the 2nd quarter. Liberty Capital Management Inc. now owns 2,311 shares of the medical technology company’s stock valued at $202,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 81.75% of the company’s stock.
Shares of Medtronic plc. (MDT) opened at $87.26 on Friday. The company has a market capitalization of $118,110.00, a price-to-earnings ratio of 23.97, a PEG ratio of 2.37 and a beta of 0.99. Medtronic plc. has a 52 week low of $73.59 and a 52 week high of $89.72. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.40 and a quick ratio of 2.05.
Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.08. The company had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $7.05 billion. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period last year, the firm earned $1.12 EPS. sell-side analysts predict that Medtronic plc. will post 4.77 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, December 29th will be paid a $0.46 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.84 annualized dividend and a dividend yield of 2.11%. Medtronic’s dividend payout ratio (DPR) is currently 50.55%.
In related news, EVP Bryan C. Hanson sold 16,000 shares of Medtronic stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $79.02, for a total transaction of $1,264,320.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Richard Kuntz sold 78,526 shares of Medtronic stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $86.21, for a total value of $6,769,726.46. Following the sale, the vice president now directly owns 149,761 shares of the company’s stock, valued at $12,910,895.81. The disclosure for this sale can be found here. Insiders sold a total of 136,684 shares of company stock valued at $11,582,596 over the last three months. Insiders own 0.31% of the company’s stock.
Several equities analysts have issued reports on the company. Evercore ISI assumed coverage on Medtronic in a research report on Wednesday, January 3rd. They issued an “outperform” rating and a $92.50 price objective for the company. Bank of America upgraded Medtronic from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. Oppenheimer reiterated a “buy” rating on shares of Medtronic in a research report on Thursday, December 21st. Argus upgraded Medtronic from a “hold” rating to a “buy” rating and lifted their price objective for the company from $81.27 to $95.00 in a research report on Tuesday, December 12th. They noted that the move was a valuation call. Finally, BMO Capital Markets lifted their price objective on Medtronic to $94.00 and gave the company an “outperform” rating in a research report on Tuesday, December 12th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $89.65.
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Medtronic Company Profile
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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