Atlantic Trust Group LLC Purchases 22,992 Shares of Medtronic plc. (MDT)
Atlantic Trust Group LLC increased its position in Medtronic plc. (NYSE:MDT) by 1.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,814,879 shares of the medical technology company’s stock after acquiring an additional 22,992 shares during the quarter. Atlantic Trust Group LLC’s holdings in Medtronic were worth $141,142,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Parametric Portfolio Associates LLC grew its holdings in Medtronic by 7.5% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 2,208,053 shares of the medical technology company’s stock valued at $171,720,000 after buying an additional 154,332 shares in the last quarter. AXA grew its holdings in Medtronic by 4.3% during the 3rd quarter. AXA now owns 702,275 shares of the medical technology company’s stock valued at $54,616,000 after buying an additional 28,709 shares in the last quarter. Crestwood Advisors Group LLC grew its holdings in Medtronic by 1.7% during the 3rd quarter. Crestwood Advisors Group LLC now owns 251,995 shares of the medical technology company’s stock valued at $19,598,000 after buying an additional 4,275 shares in the last quarter. GSA Capital Partners LLP grew its holdings in Medtronic by 468.3% during the 3rd quarter. GSA Capital Partners LLP now owns 41,130 shares of the medical technology company’s stock valued at $3,199,000 after buying an additional 33,893 shares in the last quarter. Finally, Gofen & Glossberg LLC IL grew its holdings in Medtronic by 9.2% during the 3rd quarter. Gofen & Glossberg LLC IL now owns 7,599 shares of the medical technology company’s stock valued at $591,000 after buying an additional 642 shares in the last quarter. 81.72% of the stock is owned by institutional investors.
MDT has been the subject of a number of recent analyst reports. Wells Fargo & Co lowered Medtronic from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $93.00 to $83.00 in a report on Monday, October 9th. Stifel Nicolaus reduced their target price on Medtronic from $91.00 to $83.00 and set a “hold” rating for the company in a report on Monday, October 9th. SunTrust Banks reaffirmed a “buy” rating and set a $96.00 target price on shares of Medtronic in a report on Friday, November 3rd. Leerink Swann reaffirmed a “market perform” rating and set a $85.00 target price (down previously from $88.00) on shares of Medtronic in a report on Monday, October 9th. Finally, Argus raised Medtronic from a “hold” rating to a “buy” rating and lifted their target price for the company from $81.27 to $95.00 in a report on Tuesday, December 12th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Medtronic has a consensus rating of “Buy” and an average target price of $89.65.
In other news, EVP Hooman Hakami sold 26,158 shares of the business’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $85.00, for a total transaction of $2,223,430.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bryan C. Hanson sold 16,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $79.02, for a total value of $1,264,320.00. The disclosure for this sale can be found here. Insiders have sold 152,684 shares of company stock valued at $12,831,076 in the last three months. 0.31% of the stock is owned by insiders.
Medtronic plc. (MDT) opened at $85.45 on Friday. Medtronic plc. has a twelve month low of $73.59 and a twelve month high of $89.72. The company has a current ratio of 2.40, a quick ratio of 2.05 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $116,040.00, a PE ratio of 23.48, a PEG ratio of 2.36 and a beta of 0.99.
Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.08. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The company had revenue of $7.05 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same quarter in the previous year, the firm earned $1.12 earnings per share. Medtronic’s revenue was down 4.0% on a year-over-year basis. research analysts forecast that Medtronic plc. will post 4.77 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Thursday, December 28th. Medtronic’s payout ratio is 50.55%.
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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