Family Management Corp trimmed its position in shares of Medtronic plc. (NYSE:MDT) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 49,466 shares of the medical technology company’s stock after selling 1,320 shares during the quarter. Medtronic comprises about 2.6% of Family Management Corp’s holdings, making the stock its 20th biggest holding. Family Management Corp’s holdings in Medtronic were worth $3,847,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. Parkside Financial Bank & Trust lifted its stake in shares of Medtronic by 22.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock worth $102,000 after purchasing an additional 210 shares during the period. BDO Wealth Advisors LLC bought a new position in shares of Medtronic in the 2nd quarter worth approximately $103,000. Motco lifted its stake in shares of Medtronic by 8.7% in the 2nd quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after purchasing an additional 99 shares during the period. Farmers National Bank bought a new position in shares of Medtronic in the 1st quarter worth approximately $121,000. Finally, Blue Chip Partners Inc. bought a new stake in Medtronic during the 3rd quarter worth approximately $118,000. 81.72% of the stock is currently owned by institutional investors.
Shares of Medtronic plc. (MDT) opened at $82.21 on Wednesday. Medtronic plc. has a 52-week low of $69.35 and a 52-week high of $89.72. The firm has a market capitalization of $109,294.96, a price-to-earnings ratio of 22.52, a PEG ratio of 2.23 and a beta of 1.00. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.05 and a current ratio of 2.40.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Friday, December 29th will be issued a $0.46 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.84 annualized dividend and a dividend yield of 2.24%. Medtronic’s payout ratio is currently 50.41%.
A number of equities research analysts have commented on MDT shares. Zacks Investment Research upgraded shares of Medtronic from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Jefferies Group reaffirmed a “buy” rating and set a $96.00 price objective on shares of Medtronic in a report on Thursday, September 28th. SunTrust Banks reaffirmed a “buy” rating and set a $96.00 price objective on shares of Medtronic in a report on Monday, October 2nd. Wells Fargo & Co lowered shares of Medtronic from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $93.00 to $83.00 in a report on Monday, October 9th. Finally, Royal Bank of Canada cut their price objective on shares of Medtronic from $90.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the company. Medtronic has an average rating of “Hold” and a consensus target price of $88.57.
In related news, EVP Bryan C. Hanson sold 16,000 shares of Medtronic stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $79.02, for a total value of $1,264,320.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 48,000 shares of company stock valued at $3,837,920 over the last 90 days. 0.31% of the stock is currently owned by corporate insiders.
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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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