Markston International LLC lowered its holdings in Medtronic PLC (NYSE:MDT) by 3.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 179,579 shares of the medical technology company’s stock after selling 6,233 shares during the period. Medtronic comprises 1.9% of Markston International LLC’s holdings, making the stock its 12th biggest holding. Markston International LLC’s holdings in Medtronic were worth $17,665,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Ballew Advisors Inc purchased a new position in shares of Medtronic in the second quarter worth approximately $100,000. Fort L.P. purchased a new position in shares of Medtronic in the second quarter worth approximately $121,000. Global Trust Asset Management LLC increased its position in shares of Medtronic by 112.1% in the second quarter. Global Trust Asset Management LLC now owns 1,523 shares of the medical technology company’s stock worth $130,000 after acquiring an additional 805 shares in the last quarter. Polaris Greystone Financial Group LLC increased its position in shares of Medtronic by 255.1% in the third quarter. Polaris Greystone Financial Group LLC now owns 1,321 shares of the medical technology company’s stock worth $130,000 after acquiring an additional 949 shares in the last quarter. Finally, Trustcore Financial Services LLC increased its position in shares of Medtronic by 97.3% in the second quarter. Trustcore Financial Services LLC now owns 1,760 shares of the medical technology company’s stock worth $151,000 after acquiring an additional 868 shares in the last quarter. 80.00% of the stock is currently owned by institutional investors.
Shares of MDT opened at $94.36 on Friday. Medtronic PLC has a 52 week low of $76.41 and a 52 week high of $100.15. The company has a market cap of $127.11 billion, a P/E ratio of 19.49, a P/E/G ratio of 2.50 and a beta of 0.94. The company has a current ratio of 2.46, a quick ratio of 2.06 and a debt-to-equity ratio of 0.47.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 19th. Investors of record on Friday, September 28th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Thursday, September 27th. Medtronic’s payout ratio is presently 41.93%.
Several research firms have recently weighed in on MDT. Royal Bank of Canada lifted their target price on shares of Medtronic to $109.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 3rd. Oppenheimer reissued a “buy” rating on shares of Medtronic in a research report on Friday, September 21st. Argus lifted their target price on shares of Medtronic from $108.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, October 8th. ValuEngine raised shares of Medtronic from a “hold” rating to a “buy” rating in a research report on Friday, September 7th. Finally, Zacks Investment Research raised shares of Medtronic from a “sell” rating to a “hold” rating in a research report on Thursday, August 23rd. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $102.58.
In other Medtronic news, EVP Geoffrey Martha sold 49,799 shares of Medtronic stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $97.93, for a total value of $4,876,816.07. Following the completion of the sale, the executive vice president now directly owns 87,872 shares in the company, valued at $8,605,304.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard H. Anderson bought 2,600 shares of Medtronic stock in a transaction on Thursday, August 23rd. The stock was acquired at an average price of $95.88 per share, with a total value of $249,288.00. The disclosure for this purchase can be found here. Insiders have sold 268,678 shares of company stock worth $25,818,353 over the last ninety days. 0.28% of the stock is currently owned by insiders.
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Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.
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