Los Angeles Capital Management & Equity Research Inc. lifted its position in shares of Medtronic plc. (NYSE:MDT) by 10.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 475,699 shares of the medical technology company’s stock after purchasing an additional 45,826 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Medtronic were worth $36,995,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of MDT. Hudock Capital Group LLC lifted its holdings in Medtronic by 0.5% in the second quarter. Hudock Capital Group LLC now owns 2,195 shares of the medical technology company’s stock worth $194,000 after buying an additional 11 shares during the period. Triangle Securities Wealth Management lifted its holdings in Medtronic by 0.3% in the second quarter. Triangle Securities Wealth Management now owns 4,396 shares of the medical technology company’s stock worth $390,000 after buying an additional 15 shares during the period. IFC Holdings Incorporated FL lifted its holdings in Medtronic by 0.3% in the second quarter. IFC Holdings Incorporated FL now owns 5,673 shares of the medical technology company’s stock worth $501,000 after buying an additional 17 shares during the period. Arcus Capital Partners LLC lifted its holdings in Medtronic by 0.8% in the second quarter. Arcus Capital Partners LLC now owns 3,249 shares of the medical technology company’s stock worth $288,000 after buying an additional 25 shares during the period. Finally, Guardian Life Insurance Co. of America lifted its holdings in Medtronic by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 5,288 shares of the medical technology company’s stock worth $426,000 after buying an additional 29 shares during the period. Institutional investors own 81.72% of the company’s stock.
Medtronic plc. (MDT) traded up $0.24 during trading hours on Thursday, reaching $85.73. 3,930,000 shares of the company’s stock were exchanged, compared to its average volume of 5,020,000. The company has a market cap of $115,710.00, a P/E ratio of 23.55, a PEG ratio of 2.35 and a beta of 0.99. Medtronic plc. has a fifty-two week low of $73.38 and a fifty-two week high of $89.72. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.05 and a current ratio of 2.40.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Thursday, December 28th. Medtronic’s dividend payout ratio is presently 50.55%.
In related news, EVP Bryan C. Hanson sold 16,000 shares of Medtronic stock in a transaction on Monday, October 16th. The shares were sold at an average price of $78.03, for a total transaction of $1,248,480.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Hooman Hakami sold 26,158 shares of Medtronic stock in a transaction on Friday, January 5th. The shares were sold at an average price of $85.00, for a total transaction of $2,223,430.00. The disclosure for this sale can be found here. Insiders have sold a total of 152,684 shares of company stock worth $12,831,076 in the last quarter. Corporate insiders own 0.31% of the company’s stock.
A number of brokerages have weighed in on MDT. Bank of America raised shares of Medtronic from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 2nd. Royal Bank of Canada decreased their target price on shares of Medtronic from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Monday, October 9th. SunTrust Banks set a $92.00 target price on shares of Medtronic and gave the company a “buy” rating in a research note on Sunday, November 19th. Jefferies Group reaffirmed a “buy” rating and set a $99.00 target price on shares of Medtronic in a research note on Thursday, November 23rd. 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, nine have assigned a hold rating and fifteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $89.65.
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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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