FDO Partners LLC acquired a new stake in shares of Medtronic plc. (NYSE:MDT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,888 shares of the medical technology company’s stock, valued at approximately $1,158,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MDT. Parkside Financial Bank & Trust lifted its holdings in shares of Medtronic by 22.4% in the second quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock worth $102,000 after buying an additional 210 shares in the last quarter. BDO Wealth Advisors LLC purchased a new stake in shares of Medtronic in the second quarter worth about $103,000. Motco lifted its holdings in shares of Medtronic by 8.7% in the second quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after buying an additional 99 shares in the last quarter. Farmers National Bank purchased a new stake in shares of Medtronic in the first quarter worth about $121,000. Finally, Blue Chip Partners Inc. purchased a new stake in shares of Medtronic in the third quarter worth about $118,000. 81.72% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Bryan C. Hanson sold 16,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $78.03, for a total value of $1,248,480.00. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold 48,000 shares of company stock worth $3,837,920 over the last ninety days. 0.31% of the stock is currently owned by insiders.
Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.08. The business had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $7.05 billion. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. Medtronic’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period last year, the firm posted $1.12 earnings per share. equities analysts anticipate that Medtronic plc. will post 4.77 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Friday, December 29th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Thursday, December 28th. Medtronic’s dividend payout ratio is currently 50.41%.
A number of equities research analysts have recently issued reports on MDT shares. Zacks Investment Research downgraded shares of Medtronic from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. Wells Fargo & Co downgraded shares of Medtronic from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $93.00 to $83.00 in a report on Monday, October 9th. Stifel Nicolaus lowered their price target on shares of Medtronic from $91.00 to $83.00 and set a “hold” rating on the stock in a report on Monday, October 9th. SunTrust Banks reissued a “buy” rating and issued a $96.00 price target on shares of Medtronic in a report on Friday, November 3rd. Finally, Leerink Swann reissued a “market perform” rating and issued a $85.00 price target (down from $88.00) on shares of Medtronic in a report on Monday, October 9th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company. Medtronic currently has a consensus rating of “Buy” and a consensus price target of $89.65.
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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