Palladium Partners LLC bought a new stake in Medtronic plc. (NYSE:MDT) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 96,693 shares of the medical technology company’s stock, valued at approximately $7,520,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of MDT. Foyston Gordon & Payne Inc lifted its stake in shares of Medtronic by 61.9% in the 1st quarter. Foyston Gordon & Payne Inc now owns 579,946 shares of the medical technology company’s stock valued at $46,720,000 after purchasing an additional 221,748 shares during the period. L & S Advisors Inc acquired a new position in Medtronic during the first quarter worth $5,798,000. Fiduciary Group LLC acquired a new position in Medtronic during the first quarter worth $1,423,000. Marco Investment Management LLC raised its position in Medtronic by 9.0% during the first quarter. Marco Investment Management LLC now owns 133,088 shares of the medical technology company’s stock worth $10,722,000 after acquiring an additional 11,000 shares during the period. Finally, Boyer & Corporon Wealth Management LLC acquired a new position in Medtronic during the first quarter worth $3,479,000. Hedge funds and other institutional investors own 81.74% of the company’s stock.

Shares of Medtronic plc. (NYSE:MDT) opened at $81.54 on Friday. The company has a market cap of $110,280.00, a PE ratio of 22.40, a PEG ratio of 2.25 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 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 Zacks’ consensus estimate of $0.99 by $0.08. The business had revenue of $7.05 billion during the quarter, compared to analysts’ expectations 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 period in the prior year, the business earned $1.12 earnings per share. sell-side analysts anticipate that Medtronic plc. will post 4.77 EPS for the current fiscal 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 given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Thursday, December 28th. Medtronic’s dividend payout ratio (DPR) is 50.55%.

In related news, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $78.03, for a total value of $1,248,480.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 48,000 shares of company stock valued at $3,837,920 over the last quarter. Company insiders own 0.31% of the company’s stock.

A number of equities analysts have weighed in on MDT shares. Needham & Company LLC restated a “buy” rating and set a $94.00 price objective on shares of Medtronic in a research report on Thursday, November 9th. BidaskClub cut shares of Medtronic from a “hold” rating to a “sell” rating in a research report on Saturday, August 26th. Zacks Investment Research cut shares of Medtronic from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. SunTrust Banks set a $92.00 price objective on shares of Medtronic and gave the stock a “buy” rating in a research report on Sunday, November 19th. Finally, Royal Bank of Canada reduced their price objective on shares of Medtronic from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the stock. Medtronic currently has a consensus rating of “Hold” and a consensus price target of $88.57.

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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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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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