Medtronic plc. (MDT) Stake Lifted by Janney Montgomery Scott LLC
Janney Montgomery Scott LLC lifted its position in shares of Medtronic plc. (NYSE:MDT) by 1.2% during the third quarter, HoldingsChannel.com reports. The fund owned 185,738 shares of the medical technology company’s stock after acquiring an additional 2,140 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Medtronic were worth $14,445,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently modified their holdings of the company. Valeo Financial Advisors LLC acquired a new position in shares of Medtronic during the third quarter worth about $355,000. Ladenburg Thalmann Financial Services Inc. grew its position in Medtronic by 4.7% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 75,707 shares of the medical technology company’s stock worth $5,890,000 after buying an additional 3,387 shares during the period. AlphaStar Capital Management LLC acquired a new position in Medtronic during the third quarter worth about $253,000. Cubist Systematic Strategies LLC grew its position in Medtronic by 1,840.5% during the third quarter. Cubist Systematic Strategies LLC now owns 62,096 shares of the medical technology company’s stock worth $4,829,000 after buying an additional 58,896 shares during the period. Finally, Patten Group Inc. grew its position in Medtronic by 901.9% during the third quarter. Patten Group Inc. now owns 202,688 shares of the medical technology company’s stock worth $1,823,000 after buying an additional 182,458 shares during the period. Institutional investors and hedge funds own 81.72% of the company’s stock.
Medtronic plc. (MDT) opened at $85.49 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.05 and a current ratio of 2.40. The stock has a market cap of $116,240.00, a P/E ratio of 23.49, a P/E/G ratio of 2.35 and a beta of 0.99. Medtronic plc. has a one year low of $73.38 and a one year high of $89.72.
Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.08. The business had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $7.05 billion. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.12 earnings per share. research analysts forecast that Medtronic plc. will post 4.77 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Investors 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 2.15%. The ex-dividend date is Thursday, December 28th. Medtronic’s payout ratio is 50.55%.
MDT has been the topic of several recent analyst reports. Wells Fargo & Co lowered shares of Medtronic from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $93.00 to $83.00 in a research report on Monday, October 9th. Stifel Nicolaus lowered their target price on shares of Medtronic from $91.00 to $83.00 and set a “hold” rating on the stock in a research report on Monday, October 9th. SunTrust Banks restated a “buy” rating and set a $96.00 target price on shares of Medtronic in a research report on Friday, November 3rd. Leerink Swann restated a “market perform” rating and set a $85.00 target price (down from $88.00) on shares of Medtronic in a research report on Monday, October 9th. Finally, Argus upgraded shares of Medtronic from a “hold” rating to a “buy” rating and upped their target price for the stock from $81.27 to $95.00 in a research report on Tuesday, December 12th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Medtronic has an average rating of “Buy” and a consensus target price of $89.65.
In related news, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $79.02, for a total transaction of $1,264,320.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Hooman Hakami sold 26,158 shares of the company’s stock in a transaction that occurred on 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. Insiders have sold 152,684 shares of company stock worth $12,831,076 in the last three months. 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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