HM Payson & Co. bought a new position in Medtronic plc. (NYSE:MDT) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 11,952 shares of the medical technology company’s stock, valued at approximately $965,000.
A number of other large investors have also modified their holdings of the business. WealthPLAN Partners LLC raised its position in Medtronic by 16.5% in the 4th quarter. WealthPLAN Partners LLC now owns 31,130 shares of the medical technology company’s stock worth $2,514,000 after buying an additional 4,398 shares during the last quarter. First Commonwealth Financial Corp PA purchased a new position in Medtronic in the 4th quarter worth about $238,000. Banco de Sabadell S.A purchased a new position in Medtronic in the 4th quarter worth about $1,590,000. Wealthsource Partners LLC raised its position in Medtronic by 26.6% in the 4th quarter. Wealthsource Partners LLC now owns 3,468 shares of the medical technology company’s stock worth $280,000 after buying an additional 728 shares during the last quarter. Finally, Cullen Capital Management LLC raised its position in Medtronic by 31.9% in the 4th quarter. Cullen Capital Management LLC now owns 15,380 shares of the medical technology company’s stock worth $1,242,000 after buying an additional 3,720 shares during the last quarter. 81.19% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have weighed in on the company. Oppenheimer set a $94.00 target price on Medtronic and gave the stock a “buy” rating in a research report on Friday, January 19th. Morgan Stanley upped their price target 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. Zacks Investment Research raised shares of Medtronic from a “sell” rating to a “hold” rating in a research report on Thursday, November 23rd. Jefferies Group reaffirmed a “buy” rating and set a $99.00 price target on shares of Medtronic in a research report on Thursday, November 23rd. Finally, Evercore ISI assumed coverage on shares of Medtronic in a research report on Wednesday, January 3rd. They set an “outperform” rating and a $92.50 price target for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the company. Medtronic currently has an average rating of “Buy” and an average price target of $91.50.
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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James T. Lenehan sold 1,306 shares of the stock in a transaction that occurred on Tuesday, March 13th. The stock was 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 sold a total of 130,469 shares of company stock valued at $11,016,054 over the last three months. 0.31% of the stock is currently owned by insiders.
Shares of Medtronic plc. (NYSE MDT) opened at $78.14 on Friday. The stock has a market cap of $108,484.06, a P/E ratio of 17.07, a P/E/G ratio of 2.27 and a beta of 0.97. Medtronic plc. has a fifty-two week low of $76.51 and a fifty-two week high of $89.72. The company has a quick ratio of 2.09, a current ratio of 2.43 and a debt-to-equity ratio of 0.51.
Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 20th. The medical technology company reported $1.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.01. The company had revenue of $7.37 billion during the quarter, compared to analyst estimates of $7.20 billion. Medtronic had a net margin of 9.44% and a return on equity of 12.65%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.12 EPS. analysts predict that Medtronic plc. will post 4.74 earnings per share 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 issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Thursday, March 22nd. Medtronic’s dividend payout ratio is 90.64%.
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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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