Compass Capital Management Inc. Invests $22.55 Million in Medtronic PLC (MDT) Stock
Compass Capital Management Inc. bought a new position in shares of Medtronic PLC (NYSE:MDT) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 289,922 shares of the medical technology company’s stock, valued at approximately $22,547,000. Medtronic comprises 3.6% of Compass Capital Management Inc.’s holdings, making the stock its 24th biggest position.
A number of other institutional investors have also bought and sold shares of MDT. Advantus Capital Management Inc boosted its holdings in Medtronic by 0.4% during the first quarter. Advantus Capital Management Inc now owns 137,521 shares of the medical technology company’s stock valued at $11,079,000 after acquiring an additional 497 shares during the period. Homrich & Berg boosted its holdings in Medtronic by 19.0% during the first quarter. Homrich & Berg now owns 4,991 shares of the medical technology company’s stock valued at $402,000 after acquiring an additional 798 shares during the period. Westside Investment Management Inc. boosted its holdings in Medtronic by 114.5% during the first quarter. Westside Investment Management Inc. now owns 13,476 shares of the medical technology company’s stock valued at $1,081,000 after acquiring an additional 7,193 shares during the period. Israel Discount Bank of New York bought a new stake in Medtronic during the first quarter valued at about $117,000. Finally, Sentry Investments Corp. boosted its holdings in Medtronic by 0.5% during the first quarter. Sentry Investments Corp. now owns 1,093,500 shares of the medical technology company’s stock valued at $88,092,000 after acquiring an additional 5,100 shares during the period. 81.86% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on the stock. Oppenheimer restated a “buy” rating and set a $92.00 price target on shares of Medtronic in a report on Tuesday, August 22nd. BMO Capital Markets upped their price target on shares of Medtronic to $94.00 and gave the company an “outperform” rating in a report on Tuesday. Argus upgraded shares of Medtronic from a “hold” rating to a “buy” rating and upped their price target for the company from $81.27 to $95.00 in a report on Tuesday. They noted that the move was a valuation call. SunTrust Banks restated a “buy” rating and set a $96.00 price target on shares of Medtronic in a report on Friday, November 3rd. Finally, Stifel Nicolaus upped their price target on shares of Medtronic from $83.00 to $85.00 and gave the company a “hold” rating 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 given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $88.57.
Medtronic PLC (NYSE:MDT) traded down $0.20 during midday trading on Wednesday, hitting $81.80. 463,549 shares of the company traded hands, compared to its average volume of 4,952,854. The company has a current ratio of 2.40, a quick ratio of 2.05 and a debt-to-equity ratio of 0.50. Medtronic PLC has a twelve month low of $69.35 and a twelve month high of $89.72. The company has a market capitalization of $109,998.77, a PE ratio of 17.51, a PEG ratio of 2.24 and a beta of 1.00.
Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.08. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The business had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $7.05 billion. During the same quarter last year, the company earned $1.12 earnings per share. The firm’s revenue was down 4.0% on a year-over-year basis. sell-side analysts predict that Medtronic PLC will post 4.77 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 19th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Thursday, December 28th. Medtronic’s dividend payout ratio is 50.41%.
In other Medtronic news, CEO Omar Ishrak sold 140,407 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the completion of the transaction, the chief executive officer now owns 668,503 shares in the company, valued at $54,569,899.89. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Bryan C. Hanson sold 16,000 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $79.02, for a total transaction of $1,264,320.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 172,407 shares of company stock valued at $13,974,223. Corporate 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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