Golub Group LLC raised its holdings in Medtronic PLC (NYSE:MDT) by 1.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 366,196 shares of the medical technology company’s stock after purchasing an additional 4,142 shares during the period. Medtronic accounts for about 2.6% of Golub Group LLC’s holdings, making the stock its 21st biggest position. Golub Group LLC’s holdings in Medtronic were worth $28,479,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Advantus Capital Management Inc grew its stake in Medtronic by 0.4% during the first quarter. Advantus Capital Management Inc now owns 137,521 shares of the medical technology company’s stock valued at $11,079,000 after acquiring an additional 497 shares in the last quarter. Homrich & Berg grew its stake in Medtronic by 19.0% during the first quarter. Homrich & Berg now owns 4,991 shares of the medical technology company’s stock valued at $402,000 after acquiring an additional 798 shares in the last quarter. Westside Investment Management Inc. grew its stake in Medtronic by 114.5% during the first quarter. Westside Investment Management Inc. now owns 13,476 shares of the medical technology company’s stock valued at $1,081,000 after acquiring an additional 7,193 shares in the last quarter. Israel Discount Bank of New York purchased a new position in Medtronic during the first quarter valued at approximately $117,000. Finally, Sentry Investments Corp. grew its stake in Medtronic by 0.5% during the first quarter. Sentry Investments Corp. now owns 1,093,500 shares of the medical technology company’s stock valued at $88,092,000 after acquiring an additional 5,100 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.
Several equities analysts recently commented on the stock. Argus raised shares of Medtronic from a “hold” rating to a “buy” rating and boosted their price objective for the company from $81.27 to $95.00 in a research note on Tuesday. They noted that the move was a valuation call. BMO Capital Markets boosted their price objective on shares of Medtronic to $94.00 and gave the company an “outperform” rating in a research note on Tuesday. Jefferies Group reaffirmed a “buy” rating and set a $99.00 price objective on shares of Medtronic in a research note on Thursday, November 23rd. Zacks Investment Research raised shares of Medtronic from a “sell” rating to a “hold” rating in a research note on Thursday, November 23rd. Finally, Northland Securities reaffirmed a “hold” rating and set a $80.00 price objective on shares of Medtronic in a research note on Wednesday, November 22nd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $88.57.
Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.08. The business had revenue of $7.05 billion during the quarter, compared to analyst estimates of $7.05 billion. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. Medtronic’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.12 earnings per share. analysts anticipate that Medtronic PLC will post 4.77 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, December 29th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.25%. Medtronic’s payout ratio is 50.41%.
In other news, EVP Bryan C. Hanson sold 16,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $79.02, for a total value of $1,264,320.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.31% of the company’s stock.
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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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