Vestmark Advisory Solutions Inc. lessened its position in Medtronic PLC (NYSE:MDT) by 2.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,369 shares of the medical technology company’s stock after selling 1,057 shares during the period. Medtronic makes up 0.7% of Vestmark Advisory Solutions Inc.’s portfolio, making the stock its 25th biggest position. Vestmark Advisory Solutions Inc.’s holdings in Medtronic were worth $4,168,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Neville Rodie & Shaw Inc. increased its position in shares of Medtronic by 7.1% during the second quarter. Neville Rodie & Shaw Inc. now owns 20,145 shares of the medical technology company’s stock worth $1,962,000 after purchasing an additional 1,340 shares in the last quarter. South Texas Money Management Ltd. increased its position in shares of Medtronic by 10.6% during the second quarter. South Texas Money Management Ltd. now owns 387,727 shares of the medical technology company’s stock worth $37,761,000 after purchasing an additional 37,008 shares in the last quarter. Fulton Bank N.A. increased its position in shares of Medtronic by 1.0% during the second quarter. Fulton Bank N.A. now owns 26,063 shares of the medical technology company’s stock worth $2,539,000 after purchasing an additional 249 shares in the last quarter. Rockland Trust Co. acquired a new position in shares of Medtronic during the second quarter worth $651,000. Finally, BigSur Wealth Management LLC increased its position in shares of Medtronic by 5.6% during the second quarter. BigSur Wealth Management LLC now owns 4,499 shares of the medical technology company’s stock worth $441,000 after purchasing an additional 239 shares in the last quarter. 81.18% of the stock is currently owned by institutional investors and hedge funds.
In other Medtronic news, EVP Hooman Hakami sold 82,877 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $107.31, for a total value of $8,893,530.87. Following the sale, the executive vice president now directly owns 30,761 shares of the company’s stock, valued at $3,300,962.91. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Robert John White sold 52,165 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $109.33, for a total transaction of $5,703,199.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 156,467 shares of company stock worth $16,900,132. 0.28% of the stock is owned by corporate insiders.
Shares of NYSE MDT traded up $0.93 during mid-day trading on Monday, hitting $107.96. The stock had a trading volume of 2,964,410 shares, compared to its average volume of 5,076,998. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.20 and a current ratio of 2.67. The company has a 50 day moving average of $107.49 and a two-hundred day moving average of $100.92. Medtronic PLC has a twelve month low of $81.66 and a twelve month high of $112.05. The firm has a market cap of $145.77 billion, a PE ratio of 20.68, a PEG ratio of 2.59 and a beta of 0.62.
Medtronic (NYSE:MDT) last released its earnings results on Tuesday, August 20th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.08. Medtronic had a return on equity of 14.36% and a net margin of 14.41%. The firm had revenue of $7.49 billion for the quarter, compared to the consensus estimate of $7.40 billion. During the same period in the prior year, the firm earned $1.17 EPS. The firm’s revenue was up 1.5% on a year-over-year basis. Equities research analysts predict that Medtronic PLC will post 5.56 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, September 27th were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend was Thursday, September 26th. Medtronic’s payout ratio is 41.38%.
MDT has been the topic of a number of recent analyst reports. Royal Bank of Canada set a $110.00 price target on Medtronic and gave the stock a “buy” rating in a research report on Friday, August 16th. BTIG Research upped their price target on Medtronic to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $133.00 price target on shares of Medtronic in a research report on Wednesday, August 28th. Barclays upped their target price on Medtronic from $110.00 to $117.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Finally, ValuEngine downgraded Medtronic from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $114.33.
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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