Stifel Financial Corp Boosts Position in Medtronic plc. (MDT)

Stifel Financial Corp boosted its position in shares of Medtronic plc. (NYSE:MDT) by 22,156.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,067,848 shares of the medical technology company’s stock after acquiring an additional 1,063,050 shares during the quarter. Stifel Financial Corp owned 0.08% of Medtronic worth $82,948,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Parkside Financial Bank & Trust increased its position in 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 Medtronic in the second quarter worth about $103,000. Motco increased its position in 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. Quadrant Capital Group LLC increased its position in Medtronic by 21.5% in the second quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock worth $114,000 after buying an additional 290 shares in the last quarter. Finally, Blue Chip Partners Inc. purchased a new stake in Medtronic in the third quarter worth about $118,000. Institutional investors own 81.72% of the company’s stock.

In related news, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $78.03, for a total transaction of $1,248,480.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have sold 48,000 shares of company stock valued at $3,837,920. 0.31% of the stock is owned by corporate insiders.

MDT has been the subject of a number of analyst reports. Zacks Investment Research cut Medtronic from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. Jefferies Group restated a “buy” rating and issued a $96.00 price target on shares of Medtronic in a research report on Thursday, September 28th. SunTrust Banks reaffirmed a “buy” rating and issued a $96.00 price objective on shares of Medtronic in a research note on Monday, October 2nd. Wells Fargo & Co lowered Medtronic from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $93.00 to $83.00 in a research note on Monday, October 9th. Finally, Royal Bank of Canada dropped their price objective on Medtronic from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Monday, October 9th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $89.65.

Medtronic plc. (NYSE MDT) opened at $84.12 on Friday. Medtronic plc. has a one year low of $70.59 and a one year high of $89.72. The company has a market capitalization of $113,590.00, a P/E ratio of 23.11, a P/E/G ratio of 2.27 and a beta of 0.99. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.05 and a current ratio of 2.40.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.08. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The company had revenue of $7.05 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same period in the prior year, the company earned $1.12 earnings per share. The firm’s revenue was down 4.0% on a year-over-year basis. equities analysts anticipate that Medtronic plc. will post 4.77 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Friday, December 29th will be paid a dividend of $0.46 per share. 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 payout ratio is presently 50.55%.

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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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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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