Family Management Corp trimmed its position in shares of Medtronic plc. (NYSE:MDT) by 3.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,863 shares of the medical technology company’s stock after selling 1,603 shares during the period. Medtronic comprises 2.7% of Family Management Corp’s holdings, making the stock its 18th biggest holding. Family Management Corp’s holdings in Medtronic were worth $3,865,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. BB&T Investment Services Inc. boosted its position in Medtronic by 147.6% in the 4th quarter. BB&T Investment Services Inc. now owns 1,518 shares of the medical technology company’s stock valued at $126,000 after buying an additional 905 shares during the period. Blue Chip Partners Inc. purchased a new stake in Medtronic in the 3rd quarter valued at about $118,000. Quadrant Capital Group LLC boosted its position in Medtronic by 21.5% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock valued at $114,000 after buying an additional 290 shares during the period. Westwood Holdings Group Inc. purchased a new stake in Medtronic in the 2nd quarter valued at about $151,000. Finally, Barrett Asset Management LLC boosted its position in Medtronic by 856.0% in the 4th quarter. Barrett Asset Management LLC now owns 1,826 shares of the medical technology company’s stock valued at $147,000 after buying an additional 1,635 shares during the period. Institutional investors own 81.19% of the company’s stock.
Shares of Medtronic plc. (NYSE:MDT) opened at $80.43 on Tuesday. Medtronic plc. has a 52-week low of $76.51 and a 52-week high of $89.72. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.09 and a current ratio of 2.43. The company has a market cap of $110,178.27, a P/E ratio of 39.62, a P/E/G ratio of 2.31 and a beta of 0.97.
Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 20th. The medical technology company reported $1.17 EPS for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.01. Medtronic had a net margin of 9.44% and a return on equity of 12.65%. The company had revenue of $7.37 billion during the quarter, compared to analysts’ expectations of $7.20 billion. During the same quarter in the prior year, the company posted $1.12 earnings per share. Medtronic’s revenue for the quarter was up 1.2% compared to the same quarter last year. equities analysts forecast that Medtronic plc. will post 4.75 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Friday, March 23rd will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, March 22nd. This represents a $1.84 dividend on an annualized basis and a yield of 2.29%. Medtronic’s payout ratio is 90.64%.
In related 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 owns 149,761 shares of the company’s stock, valued at $12,910,895.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James T. Lenehan sold 1,306 shares of the stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $83.56, for a total transaction of $109,129.36. The disclosure for this sale can be found here. Insiders have sold 130,469 shares of company stock valued at $11,016,054 in the last three months. 0.31% of the stock is currently owned by corporate insiders.
Several equities research analysts have issued reports on the stock. Oppenheimer set a $94.00 price objective on shares of Medtronic and gave the company a “buy” rating in a research report on Friday, January 19th. Morgan Stanley boosted their price objective on shares of Medtronic from $91.00 to $95.00 and gave the company an “equal weight” rating in a research report on Monday, February 5th. Stifel Nicolaus boosted their price objective on shares of Medtronic from $83.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, November 22nd. Zacks Investment Research raised shares of Medtronic from a “sell” rating to a “hold” rating in a research report on Thursday, November 23rd. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $99.00 price target on shares of Medtronic in a research report on Thursday, November 23rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $91.50.
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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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