Advisors Asset Management Inc. increased its stake in Medtronic plc. (NYSE:MDT) by 0.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 264,052 shares of the medical technology company’s stock after buying an additional 1,602 shares during the quarter. Advisors Asset Management Inc.’s holdings in Medtronic were worth $20,535,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Parkside Financial Bank & Trust grew its stake in Medtronic by 22.4% during the 2nd 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 in the last quarter. BDO Wealth Advisors LLC acquired a new stake in Medtronic during the 2nd quarter valued at approximately $103,000. Motco grew its stake in Medtronic by 8.7% during the 2nd quarter. Motco now owns 1,239 shares of the medical technology company’s stock valued at $110,000 after purchasing an additional 99 shares in the last quarter. Quadrant Capital Group LLC grew its stake in Medtronic by 21.5% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock valued at $114,000 after purchasing an additional 290 shares in the last quarter. Finally, Blue Chip Partners Inc. acquired a new stake in Medtronic during the 3rd quarter valued at approximately $118,000. Institutional investors and hedge funds own 81.74% of the company’s stock.
Shares of Medtronic plc. (NYSE MDT) opened at $81.54 on Friday. The stock has a market capitalization of $110,147.66, a P/E ratio of 22.34, a P/E/G ratio of 2.25 and a beta of 1.00. Medtronic plc. has a 1-year low of $69.35 and a 1-year high of $89.72. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.40 and a quick ratio of 2.05.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Thursday, December 28th. Medtronic’s payout ratio is currently 50.41%.
MDT has been the subject of a number of recent analyst reports. Cowen restated a “buy” rating and set a $95.00 price objective on shares of Medtronic in a research note on Friday, November 3rd. Needham & Company LLC lowered their price objective on Medtronic from $95.00 to $94.00 and set a “buy” rating for the company in a research note on Tuesday, October 10th. SunTrust Banks restated a “buy” rating and set a $96.00 price objective on shares of Medtronic in a research note on Monday, October 2nd. Jefferies Group restated a “buy” rating and set a $96.00 price objective on shares of Medtronic in a research note on Thursday, September 28th. Finally, Oppenheimer restated a “buy” rating and set a $94.00 price objective on shares of Medtronic in a research note on Wednesday, November 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $88.57.
In other Medtronic news, EVP Bryan C. Hanson sold 16,000 shares of Medtronic stock in a transaction on Monday, October 16th. The stock was sold at an average price of $78.03, for a total transaction of $1,248,480.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 48,000 shares of company stock worth $3,837,920 in the last ninety days. 0.31% of the stock is owned by company 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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