Gladstone Institutional Advisory LLC boosted its stake in shares of Medtronic plc (NYSE:MDT – Free Report) by 18.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,087 shares of the medical technology company’s stock after acquiring an additional 4,243 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Medtronic were worth $2,184,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC lifted its position in Medtronic by 127,655.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 14,160,371 shares of the medical technology company’s stock valued at $1,100,544,000 after purchasing an additional 14,149,287 shares during the last quarter. Norges Bank bought a new position in Medtronic during the fourth quarter valued at $1,062,316,000. Bank of New York Mellon Corp lifted its holdings in shares of Medtronic by 33.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 19,374,686 shares of the medical technology company’s stock worth $1,564,508,000 after acquiring an additional 4,816,172 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Medtronic by 14.9% in the 4th quarter. Deutsche Bank AG now owns 16,599,068 shares of the medical technology company’s stock worth $1,290,080,000 after acquiring an additional 2,157,370 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Medtronic by 22.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,764,281 shares of the medical technology company’s stock worth $681,160,000 after acquiring an additional 1,602,609 shares during the last quarter. 80.75% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
MDT has been the subject of several analyst reports. 22nd Century Group restated an “initiates” rating on shares of Medtronic in a report on Friday, June 30th. Morgan Stanley upgraded shares of Medtronic from an “equal weight” rating to an “overweight” rating and set a $104.00 target price for the company in a report on Tuesday, May 30th. Sanford C. Bernstein lowered their target price on shares of Medtronic from $100.00 to $99.00 in a report on Friday, May 26th. Mizuho raised their target price on shares of Medtronic from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, August 23rd. Finally, UBS Group raised their target price on shares of Medtronic from $79.00 to $82.00 and gave the stock a “sell” rating in a report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $91.67.
Medtronic Stock Performance
Shares of NYSE MDT opened at $79.96 on Monday. The company’s fifty day moving average price is $84.68 and its 200 day moving average price is $84.41. Medtronic plc has a 1 year low of $75.76 and a 1 year high of $92.39. The company has a market capitalization of $106.39 billion, a PE ratio of 29.51, a price-to-earnings-growth ratio of 2.81 and a beta of 0.71. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.79 and a current ratio of 2.42.
Medtronic (NYSE:MDT – Get Free Report) last announced its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.09. Medtronic had a net margin of 11.47% and a return on equity of 13.81%. The firm had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.57 billion. During the same period in the prior year, the firm posted $1.13 earnings per share. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, research analysts predict that Medtronic plc will post 5.12 earnings per share for the current year.
Medtronic Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 22nd will be issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Thursday, September 21st. Medtronic’s dividend payout ratio (DPR) is presently 101.85%.
Insider Buying and Selling
In other Medtronic news, EVP Brett A. Wall sold 2,000 shares of the stock in a transaction on Friday, July 14th. The shares were sold at an average price of $87.97, for a total transaction of $175,940.00. Following the transaction, the executive vice president now directly owns 23,948 shares of the company’s stock, valued at $2,106,705.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Medtronic news, EVP Gregory L. Smith sold 10,000 shares of the stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $83.84, for a total transaction of $838,400.00. Following the transaction, the executive vice president now directly owns 46,723 shares of the company’s stock, valued at $3,917,256.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Brett A. Wall sold 2,000 shares of the stock in a transaction on Friday, July 14th. The shares were sold at an average price of $87.97, for a total transaction of $175,940.00. Following the transaction, the executive vice president now directly owns 23,948 shares in the company, valued at $2,106,705.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,866 shares of company stock valued at $1,688,839. Corporate insiders own 0.30% of the company’s stock.
Medtronic Profile
Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.
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