HL Financial Services LLC boosted its stake in shares of Medtronic plc. (NYSE:MDT) by 211.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,428 shares of the medical technology company’s stock after purchasing an additional 13,193 shares during the period. HL Financial Services LLC’s holdings in Medtronic were worth $1,569,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the business. BDO Wealth Advisors LLC bought a new position in Medtronic in the second quarter valued at about $103,000. Motco grew its holdings in shares of Medtronic by 8.7% during the second quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after purchasing an additional 99 shares during the last quarter. Blue Chip Partners Inc. bought a new stake in shares of Medtronic during the third quarter worth about $118,000. Quadrant Capital Group LLC grew its holdings in shares of Medtronic by 21.5% during the second quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock worth $114,000 after purchasing an additional 290 shares during the last quarter. Finally, Westwood Holdings Group Inc. bought a new stake in shares of Medtronic during the second quarter worth about $151,000. 81.97% of the stock is owned by institutional investors.
Several analysts recently commented on the company. Bank of America upgraded Medtronic from a “neutral” rating to a “buy” rating in a report on Tuesday, January 2nd. Oppenheimer reiterated a “buy” rating on shares of Medtronic in a report on Thursday, December 21st. Argus raised Medtronic from a “hold” rating to a “buy” rating and boosted their price target for the company from $81.27 to $95.00 in a research note on Tuesday, December 12th. They noted that the move was a valuation call. SunTrust Banks set a $92.00 price target on Medtronic and gave the company a “buy” rating in a research note on Sunday, November 19th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $94.00 price target on shares of Medtronic in a research note on Thursday, November 9th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the stock. Medtronic has an average rating of “Buy” and a consensus price target of $90.10.
Medtronic plc. (NYSE:MDT) traded up $1.10 during mid-day trading on Friday, hitting $79.48. The stock had a trading volume of 6,030,879 shares, compared to its average volume of 5,510,000. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.40 and a quick ratio of 2.05. The company has a market cap of $107,580.00, a P/E ratio of 21.84, a price-to-earnings-growth ratio of 2.19 and a beta of 0.93. Medtronic plc. has a 12 month low of $75.71 and a 12 month high of $89.72.
Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $7.05 billion. During the same quarter in the prior year, the firm posted $1.12 EPS. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. analysts predict that Medtronic plc. will post 4.76 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, January 19th. Shareholders of record on Friday, December 29th were issued a $0.46 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $1.84 annualized dividend and a dividend yield of 2.32%. Medtronic’s payout ratio is currently 50.55%.
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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