Sunbelt Securities Inc. purchased a new position in Medtronic PLC (NYSE:MDT) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,962 shares of the medical technology company’s stock, valued at approximately $464,000. Sunbelt Securities Inc. owned approximately 440.13% of Medtronic at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the business. Parkside Financial Bank & Trust raised its holdings in Medtronic by 22.4% during the 2nd 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 during the period. BDO Wealth Advisors LLC acquired a new stake in Medtronic during the 2nd quarter worth about $103,000. Motco raised its holdings 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 buying an additional 99 shares during the period. Farmers National Bank acquired a new stake in Medtronic during the 1st quarter worth about $121,000. Finally, Israel Discount Bank of New York acquired a new stake in Medtronic during the 1st quarter worth about $117,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.
Several analysts have issued reports on the company. Cowen set a $95.00 price objective on Medtronic and gave the stock a “buy” rating in a report on Tuesday, August 22nd. Oppenheimer restated a “buy” rating and set a $92.00 price objective on shares of Medtronic in a report on Tuesday, August 22nd. Royal Bank of Canada reaffirmed a “buy” rating and set a $90.00 target price on shares of Medtronic in a research note on Monday, August 21st. Stifel Nicolaus lifted their target price on Medtronic from $83.00 to $85.00 and gave the company a “hold” rating in a research note on Wednesday, November 22nd. Finally, Northland Securities reaffirmed a “hold” rating and set a $80.00 target price on shares of Medtronic in a research note on Wednesday, November 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $88.57.
Shares of Medtronic PLC (NYSE MDT) opened at $83.50 on Friday. The company has a market capitalization of $110,756.73, a P/E ratio of 17.64, a P/E/G ratio of 2.26 and a beta of 1.00. Medtronic PLC has a 12 month low of $69.35 and a 12 month high of $89.72. The company has a quick ratio of 2.05, a current ratio of 2.40 and a debt-to-equity ratio of 0.50.
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 the Thomson Reuters’ consensus estimate of $0.99 by $0.08. The business had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $7.05 billion. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.12 EPS. research analysts expect that Medtronic PLC will post 4.77 earnings per share 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 $0.46 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.84 annualized dividend and a dividend yield of 2.20%. Medtronic’s payout ratio is 50.41%.
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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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