Northstar Investment Advisors LLC lessened its holdings in shares of Medtronic plc. (NYSE:MDT) by 1.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 98,065 shares of the medical technology company’s stock after selling 1,320 shares during the period. Northstar Investment Advisors LLC’s holdings in Medtronic were worth $7,627,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in MDT. Parkside Financial Bank & Trust raised its holdings in Medtronic by 22.4% during the second quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock worth $102,000 after purchasing an additional 210 shares in the last quarter. BDO Wealth Advisors LLC bought a new stake in Medtronic during the second quarter worth approximately $103,000. Motco raised its holdings in Medtronic by 8.7% during the second quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after purchasing an additional 99 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in Medtronic by 21.5% during the second quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock worth $114,000 after purchasing an additional 290 shares in the last quarter. Finally, Blue Chip Partners Inc. bought a new stake in Medtronic during the third quarter worth approximately $118,000. 81.74% of the stock is currently owned by institutional investors.
In other Medtronic news, EVP Bryan C. Hanson sold 16,000 shares of Medtronic 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 through this hyperlink. Over the last quarter, insiders have sold 48,000 shares of company stock worth $3,837,920. Corporate insiders own 0.31% of the company’s stock.
Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.08. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The firm had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same period in the previous year, the company posted $1.12 EPS. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. equities analysts anticipate that Medtronic plc. will post 4.77 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Shareholders of record on Friday, December 29th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.26%. The ex-dividend date is Thursday, December 28th. Medtronic’s payout ratio is 50.55%.
Several brokerages recently commented on MDT. Jefferies Group reissued a “buy” rating and set a $96.00 target price on shares of Medtronic in a report on Thursday, September 28th. SunTrust Banks reaffirmed a “buy” rating and issued a $96.00 price target on shares of Medtronic in a report on Monday, October 2nd. Stifel Nicolaus dropped their price target on Medtronic from $91.00 to $83.00 and set a “hold” rating on the stock in a report on Monday, October 9th. Wells Fargo & Co cut Medtronic from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $93.00 to $83.00 in a report on Monday, October 9th. Finally, Needham & Company LLC dropped their price target on Medtronic from $95.00 to $94.00 and set a “buy” rating on the stock in a report on Tuesday, October 10th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $88.57.
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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