Richard Kuntz Sells 78,526 Shares of Medtronic plc. (MDT) Stock
Medtronic plc. (NYSE:MDT) VP Richard Kuntz sold 78,526 shares of the company’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $86.21, for a total value of $6,769,726.46. Following the sale, the vice president now owns 149,761 shares of the company’s stock, valued at approximately $12,910,895.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Medtronic plc. (NYSE:MDT) opened at $85.45 on Friday. The stock has a market capitalization of $116,040.00, a price-to-earnings ratio of 23.48, a P/E/G ratio of 2.35 and a beta of 0.99. 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 52 week low of $73.59 and a 52 week high of $89.72.
Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.08. The company had revenue of $7.05 billion during the quarter, compared to analyst estimates of $7.05 billion. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the business posted $1.12 EPS. analysts forecast that Medtronic plc. will post 4.77 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Friday, December 29th will be paid a $0.46 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.84 dividend on an annualized basis and a yield of 2.15%. Medtronic’s dividend payout ratio (DPR) is 50.55%.
Several brokerages have recently commented on MDT. Wells Fargo & Co lowered Medtronic from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $93.00 to $83.00 in a report on Monday, October 9th. Stifel Nicolaus decreased their price objective on Medtronic from $91.00 to $83.00 and set a “hold” rating for the company in a report on Monday, October 9th. SunTrust Banks reiterated a “buy” rating and set a $96.00 price objective on shares of Medtronic in a report on Friday, November 3rd. Leerink Swann reiterated a “market perform” rating and set a $85.00 price objective (down previously from $88.00) on shares of Medtronic in a report on Monday, October 9th. Finally, Argus upgraded Medtronic from a “hold” rating to a “buy” rating and increased their price objective for the company from $81.27 to $95.00 in a 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 issued a hold rating and fifteen have issued a buy rating to the company. Medtronic presently has a consensus rating of “Buy” and an average price target of $89.65.
Hedge funds have recently modified their holdings of the stock. BDO Wealth Advisors LLC acquired a new stake in Medtronic during the 2nd quarter worth about $103,000. Motco grew its position in Medtronic by 8.7% during the 2nd quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after purchasing an additional 99 shares during the period. Quadrant Capital Group LLC grew its position in Medtronic by 21.5% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock worth $114,000 after purchasing an additional 290 shares during the period. Blue Chip Partners Inc. acquired a new stake in Medtronic during the 3rd quarter worth about $118,000. Finally, Kistler Tiffany Companies LLC grew its position in Medtronic by 7.8% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 1,642 shares of the medical technology company’s stock worth $146,000 after purchasing an additional 119 shares during the period. Institutional investors own 81.72% of the company’s stock.
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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