Global X MANAGEMENT CO LLC grew its holdings in Medtronic PLC (NYSE:MDT) by 9.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,476 shares of the medical technology company’s stock after purchasing an additional 1,685 shares during the quarter. Global X MANAGEMENT CO LLC’s holdings in Medtronic were worth $1,515,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Parkside Financial Bank & Trust raised its stake in shares of Medtronic by 22.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock worth $102,000 after acquiring an additional 210 shares in the last quarter. BDO Wealth Advisors LLC bought a new position in shares of Medtronic during the 2nd quarter worth approximately $103,000. Motco raised its stake in shares of Medtronic by 8.7% during the 2nd quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after acquiring an additional 99 shares in the last quarter. Farmers National Bank bought a new position in shares of Medtronic during the 1st quarter worth approximately $121,000. Finally, Israel Discount Bank of New York bought a new position in shares of Medtronic during the 1st quarter worth approximately $117,000. Institutional investors and hedge funds own 81.86% of the company’s stock.
Several research firms recently commented on MDT. Jefferies Group reiterated a “buy” rating and set a $96.00 price objective on shares of Medtronic in a research note on Thursday, September 28th. SunTrust Banks reiterated a “buy” rating and set a $96.00 price objective on shares of Medtronic in a research note on Monday, October 2nd. Zacks Investment Research lowered shares of Medtronic from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Cowen set a $95.00 price objective on shares of Medtronic and gave the stock a “buy” rating in a research note on Tuesday, August 22nd. Finally, Stifel Nicolaus dropped their target price on shares of Medtronic from $91.00 to $83.00 and set a “hold” rating on the stock in a research report on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $88.57.
Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.99 by $0.08. The business had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $7.05 billion. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.12 EPS. sell-side analysts predict that Medtronic PLC will post 4.77 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, December 29th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Thursday, December 28th. Medtronic’s dividend payout ratio (DPR) is currently 50.41%.
In other news, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $79.02, for a total value of $1,264,320.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.31% of the stock is owned by corporate insiders.
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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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