Kwmg LLC Maintains Position in Medtronic Inc. (MDT)
Kwmg LLC continued to hold its stake in Medtronic Inc. (NYSE:MDT) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,176 shares of the medical technology company’s stock at the end of the second quarter. Kwmg LLC’s holdings in Medtronic were worth $276,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Kelman Lazarov Inc. raised its stake in Medtronic by 17.4% in the second quarter. Kelman Lazarov Inc. now owns 1,517 shares of the medical technology company’s stock worth $132,000 after buying an additional 225 shares in the last quarter. Arcadia Investment Management Corp MI raised its stake in Medtronic by 70.0% in the second quarter. Arcadia Investment Management Corp MI now owns 1,700 shares of the medical technology company’s stock worth $148,000 after buying an additional 700 shares in the last quarter. Kistler Tiffany Companies LLC raised its stake in Medtronic by 2.1% in the second quarter. Kistler Tiffany Companies LLC now owns 1,776 shares of the medical technology company’s stock worth $154,000 after buying an additional 36 shares in the last quarter. Telemus Capital LLC purchased a new stake in Medtronic during the second quarter worth about $214,000. Finally, LVM Capital Management Ltd. MI purchased a new stake in Medtronic during the second quarter worth about $217,000. Institutional investors own 82.56% of the company’s stock.
Medtronic Inc. (NYSE:MDT) traded up 0.41% during mid-day trading on Friday, reaching $86.01. The company’s stock had a trading volume of 7,781,975 shares. The company has a market cap of $118.86 billion, a price-to-earnings ratio of 33.47 and a beta of 0.88. Medtronic Inc. has a 12 month low of $63.98 and a 12 month high of $89.27. The stock’s 50 day moving average is $87.02 and its 200 day moving average is $82.38.
Medtronic (NYSE:MDT) last released its quarterly earnings data on Thursday, August 25th. The medical technology company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.02. Medtronic had a return on equity of 12.06% and a net margin of 12.70%. The firm earned $7.20 billion during the quarter, compared to analyst estimates of $7.17 billion. During the same period in the prior year, the company posted $1.02 earnings per share. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. Equities research analysts predict that Medtronic Inc. will post $4.66 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 21st. Shareholders of record on Thursday, September 29th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Tuesday, September 27th. This represents a $1.72 annualized dividend and a yield of 2.00%. Medtronic’s dividend payout ratio is currently 66.93%.
A number of analysts recently issued reports on MDT shares. Jefferies Group restated a “buy” rating on shares of Medtronic in a research note on Wednesday, June 1st. BTIG Research lowered shares of Medtronic from a “buy” rating to a “neutral” rating and set a $82.00 price target for the company. in a research note on Wednesday, June 1st. Bank of America Corp. restated a “buy” rating on shares of Medtronic in a research note on Sunday, May 22nd. Credit Suisse Group AG restated a “buy” rating and issued a $85.00 price target on shares of Medtronic in a research note on Tuesday, May 31st. Finally, BMO Capital Markets restated a “buy” rating and issued a $87.00 price target on shares of Medtronic in a research note on Tuesday, May 31st. Six equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $90.12.
In other news, EVP Gary Lee Ellis sold 35,495 shares of the firm’s stock in a transaction on Wednesday, July 13th. The stock was sold at an average price of $88.64, for a total value of $3,146,276.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bryan C. Hanson sold 15,272 shares of the firm’s stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $87.11, for a total value of $1,330,343.92. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.
Medtronic Company Profile
Medtronic plc (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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