Ffcm LLC increased its stake in shares of Medtronic plc. (NYSE:MDT) by 22.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 58,751 shares of the medical technology company’s stock after acquiring an additional 10,940 shares during the period. Ffcm LLC’s holdings in Medtronic were worth $4,745,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in MDT. Motco lifted its position in Medtronic by 8.7% during the 2nd quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after acquiring an additional 99 shares in the last quarter. Quadrant Capital Group LLC lifted its position in Medtronic by 21.5% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock worth $114,000 after acquiring an additional 290 shares in the last quarter. Blue Chip Partners Inc. acquired a new position in Medtronic during the 3rd quarter worth approximately $118,000. Barrett Asset Management LLC lifted its position in Medtronic by 856.0% during the 4th quarter. Barrett Asset Management LLC now owns 1,826 shares of the medical technology company’s stock worth $147,000 after acquiring an additional 1,635 shares in the last quarter. Finally, Westwood Holdings Group Inc. acquired a new position in Medtronic during the 2nd quarter worth approximately $151,000. 81.91% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Bryan C. Hanson sold 16,000 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $82.82, for a total value of $1,325,120.00. Following the completion of the sale, the executive vice president now directly owns 88,818 shares in the company, valued at approximately $7,355,906.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Richard Kuntz sold 78,526 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $86.21, for a total value of $6,769,726.46. Following the completion of the sale, the vice president now owns 149,761 shares of the company’s stock, valued at $12,910,895.81. The disclosure for this sale can be found here. Insiders sold a total of 120,684 shares of company stock valued at $10,318,276 over the last quarter. Company insiders own 0.31% of the company’s stock.
Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.08. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The business had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $7.05 billion. During the same period in the previous year, the business earned $1.12 EPS. The business’s quarterly revenue was down 4.0% on a year-over-year basis. sell-side analysts predict that Medtronic plc. will post 4.76 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, January 19th. Stockholders of record on Friday, December 29th were issued a $0.46 dividend. The ex-dividend date was Thursday, December 28th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.25%. Medtronic’s dividend payout ratio (DPR) is 50.41%.
MDT has been the topic of several recent research reports. Needham & Company LLC reissued a “buy” rating and set a $94.00 price target on shares of Medtronic in a research report on Thursday, November 9th. SunTrust Banks set a $92.00 price target on Medtronic and gave the stock a “buy” rating in a research report on Sunday, November 19th. Evercore ISI initiated coverage on Medtronic in a research report on Wednesday, January 3rd. They set an “outperform” rating and a $92.50 price target on the stock. Oppenheimer restated a “buy” rating on shares of Medtronic in a report on Thursday, December 21st. Finally, BMO Capital Markets lifted their price objective on Medtronic to $94.00 and gave the stock an “outperform” rating in a report on Tuesday, December 12th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the stock. Medtronic presently has an average rating of “Buy” and a consensus target price of $90.45.
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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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