FDx Advisors Inc. grew its holdings in Medtronic PLC (NYSE:MDT) by 8.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,559 shares of the medical technology company’s stock after purchasing an additional 2,803 shares during the quarter. FDx Advisors Inc.’s holdings in Medtronic were worth $2,843,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Parkside Financial Bank & Trust boosted its stake in shares of Medtronic by 22.4% in the second quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock valued at $102,000 after purchasing an additional 210 shares during the period. BDO Wealth Advisors LLC purchased a new position in shares of Medtronic in the second quarter valued at approximately $103,000. Motco boosted its stake in shares of Medtronic by 8.7% in the second quarter. Motco now owns 1,239 shares of the medical technology company’s stock valued at $110,000 after purchasing an additional 99 shares during the period. Farmers National Bank purchased a new position in shares of Medtronic in the first quarter valued at approximately $121,000. Finally, Israel Discount Bank of New York purchased a new position in shares of Medtronic in the first quarter valued at approximately $117,000. 81.86% of the stock is owned by institutional investors and hedge funds.
Shares of Medtronic PLC (MDT) opened at $83.50 on Monday. The company has a current ratio of 2.40, a quick ratio of 2.05 and a debt-to-equity ratio of 0.50. Medtronic PLC has a 1-year low of $69.35 and a 1-year high of $89.72. The firm has a market cap of $113,017.09, a P/E ratio of 18.00, a price-to-earnings-growth ratio of 2.30 and a beta of 1.00.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.84 dividend on an annualized basis and a yield of 2.20%. Medtronic’s payout ratio is currently 50.41%.
In other Medtronic news, EVP Bryan C. Hanson sold 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $79.02, for a total transaction of $1,264,320.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.31% of the stock is currently owned by company insiders.
Several analysts recently weighed in on the stock. Argus raised shares of Medtronic from a “hold” rating to a “buy” rating and raised their target price for the company from $81.27 to $95.00 in a report on Tuesday, December 12th. They noted that the move was a valuation call. BMO Capital Markets raised their target price on shares of Medtronic to $94.00 and gave the company an “outperform” rating in a report on Tuesday, December 12th. Jefferies Group reaffirmed a “buy” rating and issued a $99.00 target price on shares of Medtronic in a report on Thursday, November 23rd. Zacks Investment Research raised shares of Medtronic from a “sell” rating to a “hold” rating in a report on Thursday, November 23rd. Finally, Northland Securities reaffirmed a “hold” rating and issued a $80.00 target price on shares of Medtronic in a report on Wednesday, November 22nd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $88.57.
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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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