Rockbridge Investment Management LCC purchased a new position in Medtronic PLC (NYSE:MDT) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 690 shares of the medical technology company’s stock, valued at approximately $63,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Dynamic Advisor Solutions LLC lifted its position in Medtronic by 3.6% during the first quarter. Dynamic Advisor Solutions LLC now owns 6,529 shares of the medical technology company’s stock valued at $589,000 after purchasing an additional 224 shares during the period. Cetera Advisor Networks LLC lifted its holdings in shares of Medtronic by 6.7% in the 1st quarter. Cetera Advisor Networks LLC now owns 30,111 shares of the medical technology company’s stock valued at $2,715,000 after buying an additional 1,886 shares during the period. Cetera Advisors LLC boosted its stake in shares of Medtronic by 1.8% in the first quarter. Cetera Advisors LLC now owns 10,093 shares of the medical technology company’s stock worth $910,000 after buying an additional 176 shares during the last quarter. Cetera Investment Advisers grew its holdings in Medtronic by 18.7% during the first quarter. Cetera Investment Advisers now owns 21,575 shares of the medical technology company’s stock worth $1,946,000 after acquiring an additional 3,404 shares during the period. Finally, Paradigm Financial Partners LLC acquired a new stake in Medtronic during the first quarter worth about $255,000. 79.90% of the stock is owned by institutional investors.
NYSE:MDT traded up $0.49 on Wednesday, hitting $108.06. The stock had a trading volume of 107,930 shares, compared to its average volume of 6,024,534. The company has a fifty day moving average price of $101.92 and a two-hundred day moving average price of $96.42. Medtronic PLC has a 1-year low of $72.13 and a 1-year high of $122.15. The company has a quick ratio of 1.53, a current ratio of 1.87 and a debt-to-equity ratio of 0.45. The stock has a market cap of $144.60 billion, a price-to-earnings ratio of 33.14, a PEG ratio of 3.41 and a beta of 0.68.
Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 25th. The medical technology company reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.41. The firm had revenue of $6.51 billion for the quarter, compared to analyst estimates of $5.48 billion. Medtronic had a net margin of 15.80% and a return on equity of 10.47%. The business’s revenue for the quarter was down 13.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.26 EPS. As a group, analysts anticipate that Medtronic PLC will post 3.96 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 25th will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Thursday, September 24th. Medtronic’s payout ratio is presently 50.54%.
In other news, EVP Hoedt Rob Ten sold 9,563 shares of Medtronic stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $105.05, for a total transaction of $1,004,593.15. Following the sale, the executive vice president now owns 53,060 shares of the company’s stock, valued at approximately $5,573,953. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.52% of the stock is currently owned by insiders.
Several equities research analysts have commented on MDT shares. BTIG Research upped their price objective on Medtronic from $102.00 to $111.00 and gave the stock a “buy” rating in a research report on Wednesday, August 26th. SunTrust Banks lowered their price target on shares of Medtronic from $130.00 to $105.00 in a report on Wednesday, May 27th. Raymond James lifted their price objective on shares of Medtronic from $107.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, August 26th. Needham & Company LLC lifted their price objective on shares of Medtronic from $113.00 to $124.00 and gave the company a “buy” rating in a report on Tuesday, August 25th. Finally, Zacks Investment Research cut shares of Medtronic from a “hold” rating to a “strong sell” rating and set a $84.00 price objective for the company. in a report on Wednesday, July 29th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $115.75.
Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.
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