Greenleaf Trust boosted its position in shares of Medtronic plc. (NYSE:MDT) by 314.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 4,426 shares of the medical technology company’s stock after acquiring an additional 3,358 shares during the quarter. Greenleaf Trust’s holdings in Medtronic were worth $357,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Captrust Financial Advisors acquired a new position in shares of Medtronic in the 2nd quarter valued at about $384,000. Wesbanco Bank Inc. lifted its holdings in shares of Medtronic by 3.1% in the 2nd quarter. Wesbanco Bank Inc. now owns 10,170 shares of the medical technology company’s stock valued at $903,000 after buying an additional 308 shares during the period. Chilton Investment Co. LLC lifted its holdings in shares of Medtronic by 6.1% in the 2nd quarter. Chilton Investment Co. LLC now owns 26,842 shares of the medical technology company’s stock valued at $2,382,000 after buying an additional 1,538 shares during the period. Moors & Cabot Inc. lifted its holdings in shares of Medtronic by 0.4% in the 2nd quarter. Moors & Cabot Inc. now owns 43,227 shares of the medical technology company’s stock valued at $3,842,000 after buying an additional 178 shares during the period. Finally, Sawtooth Solutions LLC acquired a new position in shares of Medtronic in the 2nd quarter valued at about $208,000. 81.91% of the stock is owned by institutional investors.
In other Medtronic news, EVP Bryan C. Hanson sold 16,000 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $82.82, for a total transaction of $1,325,120.00. Following the completion of the sale, the executive vice president now directly owns 88,818 shares in the company, valued at approximately $7,355,906.76. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Richard Kuntz sold 78,526 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $86.21, for a total value of $6,769,726.46. Following the sale, the vice president now owns 149,761 shares of the company’s stock, valued at $12,910,895.81. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 120,684 shares of company stock valued at $10,318,276. 0.31% of the stock is owned by company insiders.
Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.08. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The firm had revenue of $7.05 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same quarter in the previous year, the business earned $1.12 EPS. Medtronic’s revenue for the quarter was down 4.0% compared to the same quarter last year. research analysts forecast that Medtronic plc. will post 4.76 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 19th. Shareholders of record on Friday, December 29th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $1.84 annualized dividend and a yield of 2.21%. Medtronic’s dividend payout ratio (DPR) is currently 50.41%.
MDT has been the subject of several analyst reports. SunTrust Banks reissued a “buy” rating and issued a $96.00 price objective on shares of Medtronic in a report on Friday, November 3rd. Bank of America raised Medtronic from a “neutral” rating to a “buy” rating in a report on Tuesday, January 2nd. Argus raised 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 report on Tuesday, December 12th. They noted that the move was a valuation call. Oppenheimer reissued a “buy” rating on shares of Medtronic in a report on Thursday, December 21st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $94.00 price objective on shares of Medtronic in a report on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $90.45.
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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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