McCollum Christoferson Group LLC acquired a new stake in shares of Medtronic plc. (NYSE:MDT) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 58,213 shares of the medical technology company’s stock, valued at approximately $4,701,000. Medtronic comprises 1.9% of McCollum Christoferson Group LLC’s holdings, making the stock its 22nd largest position.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Captrust Financial Advisors bought a new stake in Medtronic in the second quarter valued at about $384,000. Wesbanco Bank Inc. increased its stake in Medtronic by 3.1% in the second quarter. Wesbanco Bank Inc. now owns 10,170 shares of the medical technology company’s stock valued at $903,000 after acquiring an additional 308 shares during the period. Dupont Capital Management Corp increased its stake in Medtronic by 28.8% in the second quarter. Dupont Capital Management Corp now owns 74,052 shares of the medical technology company’s stock valued at $6,572,000 after acquiring an additional 16,562 shares during the period. Chilton Investment Co. LLC increased its stake in Medtronic by 6.1% in the second quarter. Chilton Investment Co. LLC now owns 26,842 shares of the medical technology company’s stock valued at $2,382,000 after acquiring an additional 1,538 shares during the period. Finally, Moors & Cabot Inc. increased its stake in Medtronic by 0.4% in the second quarter. Moors & Cabot Inc. now owns 43,227 shares of the medical technology company’s stock valued at $3,842,000 after acquiring an additional 178 shares during the period. 81.75% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Hooman Hakami sold 26,158 shares of the stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $85.00, for a total value of $2,223,430.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $82.82, for a total transaction of $1,325,120.00. Following the completion of the transaction, the executive vice president now owns 88,818 shares in the company, valued at $7,355,906.76. The disclosure for this sale can be found here. Insiders sold 136,684 shares of company stock worth $11,582,596 over the last 90 days. 0.31% of the stock is currently owned by company insiders.
Several brokerages have weighed in on MDT. Stifel Nicolaus upped 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 reaffirmed a “buy” rating and set a $96.00 price objective on shares of Medtronic in a research note on Friday, November 3rd. BMO Capital Markets reaffirmed an “outperform” rating and set a $89.00 price objective (down from $92.00) on shares of Medtronic in a research note on Tuesday, October 10th. Oppenheimer set a $94.00 price objective on shares of Medtronic and gave the stock a “buy” rating in a research note on Friday. Finally, Needham & Company LLC decreased 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. Two 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’s stock. Medtronic presently has a consensus rating of “Buy” and an average target price of $89.65.
Medtronic plc. (MDT) opened at $86.68 on Friday. Medtronic plc. has a twelve month low of $73.59 and a twelve month high of $89.72. The firm has a market cap of $117,321.21, a P/E ratio of 18.68, a P/E/G ratio of 2.39 and a beta of 1.00. The company has a quick ratio of 2.05, a current ratio of 2.40 and a debt-to-equity ratio of 0.50.
Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share for the quarter, beating 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 business had revenue of $7.05 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same period in the prior year, the business posted $1.12 earnings per share. Medtronic’s revenue was down 4.0% compared to the same quarter last year. equities analysts predict that Medtronic plc. will post 4.77 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 19th. Investors of record on Friday, December 29th were issued a $0.46 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $1.84 annualized dividend and a yield of 2.12%. Medtronic’s dividend payout ratio is currently 50.41%.
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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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