MCF Advisors LLC raised its holdings in Medtronic plc (NYSE:MDT – Free Report) by 22.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,395 shares of the medical technology company’s stock after acquiring an additional 259 shares during the period. MCF Advisors LLC’s holdings in Medtronic were worth $112,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the business. State Street Corp raised its holdings in Medtronic by 0.9% in the 3rd quarter. State Street Corp now owns 60,731,367 shares of the medical technology company’s stock valued at $5,509,155,000 after acquiring an additional 520,027 shares during the last quarter. Pzena Investment Management LLC raised its position in shares of Medtronic by 3.3% during the 3rd quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company’s stock valued at $772,727,000 after buying an additional 275,870 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Medtronic by 436.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company’s stock valued at $661,125,000 after buying an additional 5,975,110 shares during the period. Raymond James & Associates raised its position in shares of Medtronic by 2.3% during the 3rd quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company’s stock valued at $575,460,000 after buying an additional 145,504 shares during the period. Finally, Fisher Asset Management LLC raised its position in shares of Medtronic by 11.5% during the 3rd quarter. Fisher Asset Management LLC now owns 5,893,720 shares of the medical technology company’s stock valued at $530,612,000 after buying an additional 609,391 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.
Medtronic Stock Performance
NYSE:MDT opened at $87.84 on Thursday. The company has a fifty day simple moving average of $83.64 and a two-hundred day simple moving average of $85.37. The company has a market cap of $112.64 billion, a price-to-earnings ratio of 26.86, a price-to-earnings-growth ratio of 2.49 and a beta of 0.83. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $92.68.
Medtronic Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.19%. Medtronic’s payout ratio is currently 85.63%.
Insider Buying and Selling
In related news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the completion of the transaction, the executive vice president now owns 40,708 shares in the company, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on MDT shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. Robert W. Baird cut their target price on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Evercore ISI boosted their target price on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Finally, Sanford C. Bernstein boosted their target price on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Medtronic currently has an average rating of “Hold” and a consensus target price of $95.00.
Check Out Our Latest Stock Report on MDT
Medtronic Company Profile
Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.
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