Community Trust & Investment Co. Has $18.82 Million Position in Medtronic PLC (MDT)
Community Trust & Investment Co. raised its stake in shares of Medtronic PLC (NYSE:MDT) by 1.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 241,975 shares of the medical technology company’s stock after purchasing an additional 2,649 shares during the period. Medtronic accounts for approximately 2.0% of Community Trust & Investment Co.’s investment portfolio, making the stock its 19th biggest position. Community Trust & Investment Co.’s holdings in Medtronic were worth $18,819,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Parkside Financial Bank & Trust raised its position in Medtronic by 22.4% during the 2nd 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 during the last quarter. BDO Wealth Advisors LLC bought a new position in Medtronic during the 2nd quarter worth $103,000. Motco raised its position in Medtronic by 8.7% during the 2nd quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after purchasing an additional 99 shares during the last quarter. Farmers National Bank bought a new position in Medtronic during the 1st quarter worth $121,000. Finally, Israel Discount Bank of New York bought a new position in Medtronic during the 1st quarter worth $117,000. 81.86% of the stock is owned by institutional investors and hedge funds.
Shares of Medtronic PLC (MDT) opened at $83.50 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.40 and a quick ratio of 2.05. The company has a market capitalization of $113,017.09, a PE ratio of 18.00, a PEG ratio of 2.30 and a beta of 1.00. Medtronic PLC has a 12 month low of $69.35 and a 12 month high of $89.72.
Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.08. The company had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $7.05 billion. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period last year, the business posted $1.12 EPS. analysts anticipate that Medtronic PLC will post 4.77 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, December 29th will be paid a $0.46 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.84 annualized dividend and a dividend yield of 2.20%. Medtronic’s dividend payout ratio is presently 50.41%.
A number of brokerages have weighed in on MDT. Argus upgraded Medtronic from a “hold” rating to a “buy” rating and increased their price target for the stock from $81.27 to $95.00 in a report on Tuesday, December 12th. They noted that the move was a valuation call. BMO Capital Markets increased their price target on Medtronic to $94.00 and gave the stock an “outperform” rating in a report on Tuesday, December 12th. Jefferies Group reiterated a “buy” rating and set a $99.00 price target on shares of Medtronic in a report on Thursday, November 23rd. Zacks Investment Research upgraded Medtronic from a “sell” rating to a “hold” rating in a report on Thursday, November 23rd. Finally, Northland Securities reiterated a “hold” rating and set a $80.00 price target on shares of Medtronic in a report on Wednesday, November 22nd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $88.57.
In other news, EVP Bryan C. Hanson sold 16,000 shares of the firm’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $78.03, for a total value of $1,248,480.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company 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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