Cornerstone Capital Management Holdings LLC. Raises Holdings in Medtronic plc. (MDT)
Cornerstone Capital Management Holdings LLC. grew its holdings in shares of Medtronic plc. (NYSE:MDT) by 36.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 455,541 shares of the medical technology company’s stock after purchasing an additional 120,551 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in Medtronic were worth $35,426,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the business. VNBTrust National Association acquired a new stake in shares of Medtronic in the 2nd quarter worth about $211,000. Triangle Securities Wealth Management increased its holdings in shares of Medtronic by 0.3% in the 2nd quarter. Triangle Securities Wealth Management now owns 4,396 shares of the medical technology company’s stock worth $390,000 after acquiring an additional 15 shares during the period. Independent Portfolio Consultants Inc. increased its holdings in shares of Medtronic by 6.3% in the 2nd quarter. Independent Portfolio Consultants Inc. now owns 11,416 shares of the medical technology company’s stock worth $1,013,000 after acquiring an additional 681 shares during the period. Catawba Capital Management VA increased its holdings in shares of Medtronic by 5.2% in the 2nd quarter. Catawba Capital Management VA now owns 14,668 shares of the medical technology company’s stock worth $1,302,000 after acquiring an additional 726 shares during the period. Finally, Bremer Trust National Association increased its holdings in shares of Medtronic by 9.3% in the 2nd quarter. Bremer Trust National Association now owns 4,490 shares of the medical technology company’s stock worth $398,000 after acquiring an additional 382 shares during the period. 81.72% of the stock is currently owned by institutional investors.
In other news, EVP Bryan C. Hanson sold 16,000 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $79.02, for a total transaction of $1,264,320.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Hooman Hakami sold 26,158 shares of the firm’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $85.00, for a total transaction of $2,223,430.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,158 shares of company stock valued at $6,061,350. Insiders own 0.31% of the company’s stock.
Medtronic (NYSE:MDT) last released 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. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The firm had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same quarter last year, the company earned $1.12 EPS. Medtronic’s quarterly revenue was down 4.0% on a year-over-year basis. equities research analysts forecast that Medtronic plc. will post 4.77 earnings per share for the current 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 given a dividend of $0.46 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.84 annualized dividend and a dividend yield of 2.15%. Medtronic’s dividend payout ratio (DPR) is 50.55%.
MDT has been the topic of a number of analyst reports. Bank of America raised shares of Medtronic from a “neutral” rating to a “buy” rating in a report on Tuesday, January 2nd. Royal Bank of Canada dropped their price objective on shares of Medtronic from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, October 9th. SunTrust Banks set a $92.00 price objective on shares of Medtronic and gave the stock a “buy” rating in a report on Sunday, November 19th. Jefferies Group reaffirmed a “buy” rating and issued a $99.00 price objective on shares of Medtronic in a report on Thursday, November 23rd. Finally, Northland Securities reaffirmed a “hold” rating and issued a $80.00 price objective on shares of Medtronic in a 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 issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $89.65.
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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