Medtronic PLC (MDT) Shares Sold by Cambridge Trust Co.
Cambridge Trust Co. decreased its holdings in shares of Medtronic PLC (NYSE:MDT) by 1.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 268,192 shares of the medical technology company’s stock after selling 2,958 shares during the period. Medtronic makes up approximately 1.4% of Cambridge Trust Co.’s investment portfolio, making the stock its 25th largest holding. Cambridge Trust Co.’s holdings in Medtronic were worth $20,857,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Advantus Capital Management Inc lifted its holdings in shares of Medtronic by 0.4% during the first quarter. Advantus Capital Management Inc now owns 137,521 shares of the medical technology company’s stock worth $11,079,000 after purchasing an additional 497 shares during the period. Homrich & Berg lifted its holdings in shares of Medtronic by 19.0% during the first quarter. Homrich & Berg now owns 4,991 shares of the medical technology company’s stock worth $402,000 after purchasing an additional 798 shares during the period. Westside Investment Management Inc. lifted its holdings in shares of Medtronic by 114.5% during the first quarter. Westside Investment Management Inc. now owns 13,476 shares of the medical technology company’s stock worth $1,081,000 after purchasing an additional 7,193 shares during the period. Israel Discount Bank of New York acquired a new stake in shares of Medtronic during the first quarter worth about $117,000. Finally, Sentry Investments Corp. lifted its holdings in shares of Medtronic by 0.5% during the first quarter. Sentry Investments Corp. now owns 1,093,500 shares of the medical technology company’s stock worth $88,092,000 after purchasing an additional 5,100 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.
Shares of Medtronic PLC (MDT) traded down $0.09 during trading hours on Friday, reaching $81.83. The company’s stock had a trading volume of 5,000,700 shares, compared to its average volume of 4,951,062. Medtronic PLC has a one year low of $69.35 and a one year high of $89.72. The firm has a market capitalization of $110,878.55, a P/E ratio of 17.66, a PEG ratio of 2.26 and a beta of 1.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.40 and a quick ratio of 2.05.
Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.08. The business 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 business’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.12 EPS. equities research analysts anticipate that Medtronic PLC will post 4.77 EPS for the current year.
The firm 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 dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Thursday, December 28th. Medtronic’s payout ratio is 50.41%.
MDT has been the subject of a number of research reports. SunTrust Banks reaffirmed a “buy” rating and set a $96.00 target price on shares of Medtronic in a report on Monday, October 2nd. Jefferies Group reaffirmed a “buy” rating and set a $96.00 target price on shares of Medtronic in a report on Thursday, September 28th. Cowen set a $95.00 target price on Medtronic and gave the stock a “buy” rating in a report on Tuesday, August 22nd. Oppenheimer reaffirmed a “buy” rating and set a $92.00 target price on shares of Medtronic in a report on Tuesday, August 22nd. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $90.00 target price on shares of Medtronic in a report on Monday, August 21st. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $88.57.
In other news, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $78.03, for a total transaction of $1,248,480.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.31% of the company’s stock.
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Medtronic Company Profile
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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