Advantage Investment Management LLC raised its position in Medtronic plc. (NYSE:MDT) by 103.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,686 shares of the medical technology company’s stock after buying an additional 1,369 shares during the period. Advantage Investment Management LLC’s holdings in Medtronic were worth $209,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of MDT. Parkside Financial Bank & Trust raised its position in 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 stake in Medtronic in the second quarter valued at approximately $103,000. Motco raised its position in 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. Quadrant Capital Group LLC raised its position in Medtronic by 21.5% in the second 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 during the period. Finally, Blue Chip Partners Inc. purchased a new stake in Medtronic in the third quarter valued at approximately $118,000. Institutional investors own 81.72% of the company’s stock.
Medtronic plc. (NYSE:MDT) opened at $85.54 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.05 and a current ratio of 2.40. The company has a market cap of $113,860.00, a price-to-earnings ratio of 23.50, a P/E/G ratio of 2.31 and a beta of 0.99. Medtronic plc. has a 12 month low of $71.11 and a 12 month high of $89.72.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Friday, December 29th will be paid a dividend of $0.46 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.15%. Medtronic’s payout ratio is currently 50.55%.
MDT has been the topic of a number of research analyst reports. Zacks Investment Research lowered Medtronic from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. Jefferies Group reaffirmed a “buy” rating and set a $96.00 price objective on shares of Medtronic in a research report on Thursday, September 28th. SunTrust Banks reaffirmed a “buy” rating and set a $96.00 price objective on shares of Medtronic in a research report on Monday, October 2nd. Wells Fargo & Co lowered Medtronic from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $93.00 to $83.00 in a research report on Monday, October 9th. Finally, Royal Bank of Canada cut their price objective on Medtronic from $90.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $89.65.
In related news, EVP Bryan C. Hanson sold 16,000 shares of the business’s stock in a transaction on Monday, October 16th. The shares were 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 Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders have sold 48,000 shares of company stock valued at $3,837,920. Insiders own 0.31% of the company’s stock.
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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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