Colonial Trust Advisors lifted its stake in Medtronic plc. (NYSE:MDT) by 35.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,549 shares of the medical technology company’s stock after purchasing an additional 10,584 shares during the period. Colonial Trust Advisors’ holdings in Medtronic were worth $3,274,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of Medtronic by 6.4% in the fourth quarter. BlackRock Inc. now owns 94,595,580 shares of the medical technology company’s stock worth $7,638,592,000 after purchasing an additional 5,688,180 shares during the last quarter. Artisan Partners Limited Partnership grew its holdings in shares of Medtronic by 1.1% in the third quarter. Artisan Partners Limited Partnership now owns 23,853,034 shares of the medical technology company’s stock worth $1,855,050,000 after purchasing an additional 269,814 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Medtronic by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 14,191,675 shares of the medical technology company’s stock worth $1,143,549,000 after purchasing an additional 351,256 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Medtronic by 6.3% in the fourth quarter. Wells Fargo & Company MN now owns 13,159,777 shares of the medical technology company’s stock worth $1,062,652,000 after purchasing an additional 781,446 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Medtronic by 20.7% in the third quarter. Ameriprise Financial Inc. now owns 11,388,438 shares of the medical technology company’s stock worth $885,673,000 after purchasing an additional 1,954,535 shares during the last quarter. Hedge funds and other institutional investors own 81.19% of the company’s stock.
Several research analysts have issued reports on the stock. Oppenheimer reiterated a “buy” rating on shares of Medtronic in a report on Tuesday. Citigroup reiterated a “buy” rating and set a $93.00 target price (down from $100.00) on shares of Medtronic in a report on Thursday, February 22nd. Zacks Investment Research upgraded shares of Medtronic from a “sell” rating to a “hold” rating in a report on Thursday, November 23rd. BMO Capital Markets increased their target price on shares of Medtronic to $94.00 and gave the stock an “outperform” rating in a report on Tuesday, December 12th. Finally, Evercore ISI assumed coverage on shares of Medtronic in a report on Wednesday, January 3rd. They set an “outperform” rating and a $92.50 target price on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Medtronic has a consensus rating of “Buy” and an average target price of $91.50.
Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.01. The business had revenue of $7.37 billion during the quarter, compared to analyst estimates of $7.20 billion. Medtronic had a net margin of 9.44% and a return on equity of 12.65%. The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.12 earnings per share. equities research analysts predict that Medtronic plc. will post 4.75 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Friday, March 23rd will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Thursday, March 22nd. Medtronic’s payout ratio is 90.64%.
In other Medtronic news, VP Richard Kuntz sold 78,526 shares of the stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $86.21, for a total transaction of $6,769,726.46. Following the completion of the sale, the vice president now directly owns 149,761 shares of the company’s stock, valued at $12,910,895.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Hooman Hakami sold 26,158 shares of the stock in a transaction dated 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. Over the last three months, insiders have sold 130,469 shares of company stock valued at $11,016,054. Insiders own 0.31% of the company’s stock.
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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