Covenant Multifamily Offices LLC trimmed its holdings in shares of Medtronic plc. (NYSE:MDT) by 7.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 49,251 shares of the medical technology company’s stock after selling 3,803 shares during the period. Medtronic makes up 2.6% of Covenant Multifamily Offices LLC’s holdings, making the stock its 10th biggest holding. Covenant Multifamily Offices LLC’s holdings in Medtronic were worth $3,977,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Motco increased its position in shares of 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. Blue Chip Partners Inc. acquired a new stake in shares of Medtronic during the third quarter worth about $118,000. Quadrant Capital Group LLC increased its position in shares of 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. Westwood Holdings Group Inc. acquired a new stake in shares of Medtronic during the second quarter worth about $151,000. Finally, Almanack Investment Partners LLC. acquired a new stake in shares of Medtronic during the second quarter worth about $154,000. Institutional investors and hedge funds own 81.91% of the company’s stock.
Medtronic plc. (NYSE MDT) opened at $83.31 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. Medtronic plc. has a 52-week low of $76.51 and a 52-week high of $89.72. The stock has a market capitalization of $112,760.00, a P/E ratio of 22.89, a price-to-earnings-growth ratio of 2.28 and a beta of 0.93.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 19th. Shareholders of record on Friday, December 29th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.21%. The ex-dividend date was Thursday, December 28th. Medtronic’s payout ratio is 50.55%.
In other Medtronic news, VP Richard Kuntz sold 78,526 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $86.21, for a total transaction of $6,769,726.46. Following the transaction, the vice president now owns 149,761 shares in the company, valued at approximately $12,910,895.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Bryan C. Hanson sold 16,000 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $82.82, for a total value of $1,325,120.00. Following the transaction, the executive vice president now owns 88,818 shares in the company, valued at approximately $7,355,906.76. The disclosure for this sale can be found here. Insiders have sold a total of 120,684 shares of company stock worth $10,318,276 in the last quarter. 0.31% of the stock is currently owned by insiders.
A number of research firms have recently commented on MDT. Morgan Stanley lifted their target price on Medtronic from $91.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Monday, February 5th. Oppenheimer set a $94.00 target price on Medtronic and gave the stock a “buy” rating in a research report on Friday, January 19th. Cowen reiterated a “buy” rating and set a $95.00 target price on shares of Medtronic in a research report on Friday, November 3rd. Jefferies Group reiterated a “buy” rating and set a $99.00 target price on shares of Medtronic in a research report on Thursday, November 23rd. Finally, Stifel Nicolaus lifted their target price on Medtronic from $83.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, November 22nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the stock. Medtronic currently has an average rating of “Buy” and a consensus price target of $90.45.
Medtronic Company Profile
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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