Calamos Advisors LLC increased its position in Medtronic Inc. (NYSE:MDT) by 118.3% during the second quarter, Holdings Channel reports. The institutional investor owned 416,207 shares of the medical technology company’s stock after buying an additional 225,587 shares during the period. Calamos Advisors LLC’s holdings in Medtronic were worth $36,114,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Clarkston Capital Partners LLC raised its stake in shares of Medtronic by 3.3% in the second quarter. Clarkston Capital Partners LLC now owns 120,828 shares of the medical technology company’s stock worth $10,484,000 after buying an additional 3,840 shares in the last quarter. First Republic Investment Management Inc. raised its stake in shares of Medtronic by 6.5% in the first quarter. First Republic Investment Management Inc. now owns 538,638 shares of the medical technology company’s stock worth $40,399,000 after buying an additional 32,837 shares in the last quarter. Atlanta Capital Management Co. L L C bought a new stake in shares of Medtronic during the first quarter worth approximately $45,404,000. Kelman Lazarov Inc. raised its stake in shares of Medtronic by 17.4% in the second quarter. Kelman Lazarov Inc. now owns 1,517 shares of the medical technology company’s stock worth $132,000 after buying an additional 225 shares in the last quarter. Finally, Deane Retirement Strategies Inc. bought a new stake in shares of Medtronic during the second quarter worth approximately $2,505,000. Hedge funds and other institutional investors own 83.11% of the company’s stock.
Medtronic Inc. (NYSE:MDT) traded down 1.54% on Thursday, reaching $85.40. 4,126,019 shares of the company traded hands. The stock has a 50 day moving average of $86.67 and a 200-day moving average of $83.19. The stock has a market capitalization of $118.02 billion, a price-to-earnings ratio of 33.23 and a beta of 0.88. Medtronic Inc. has a 1-year low of $67.23 and a 1-year high of $89.27.
Medtronic (NYSE:MDT) last issued its quarterly earnings results on Thursday, August 25th. The medical technology company reported $1.03 EPS for the quarter, topping the consensus estimate of $1.01 by $0.02. The company earned $7.20 billion during the quarter, compared to analyst estimates of $7.17 billion. Medtronic had a net margin of 12.70% and a return on equity of 12.06%. The firm’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.02 EPS. On average, equities analysts anticipate that Medtronic Inc. will post $4.66 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Thursday, September 29th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Tuesday, September 27th. Medtronic’s payout ratio is presently 66.93%.
A number of analysts have recently commented on MDT shares. Zacks Investment Research upgraded shares of Medtronic from a “sell” rating to a “hold” rating in a research note on Thursday, June 2nd. BTIG Research lowered shares of Medtronic from a “buy” rating to a “neutral” rating and set a $82.00 target price for the company. in a research report on Wednesday, June 1st. Credit Suisse Group AG restated an “outperform” rating and set a $92.00 target price on shares of Medtronic in a research report on Thursday, August 25th. Wedbush boosted their target price on shares of Medtronic from $79.00 to $82.00 and gave the company a “neutral” rating in a research report on Wednesday, June 1st. Finally, Needham & Company LLC restated a “buy” rating and set a $93.00 target price (up from $90.00) on shares of Medtronic in a research report on Tuesday, June 7th. Six analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Medtronic presently has an average rating of “Buy” and an average price target of $90.12.
In related news, EVP Bryan C. Hanson sold 15,000 shares of the business’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $87.00, for a total value of $1,305,000.00. Following the completion of the sale, the executive vice president now owns 108,717 shares of the company’s stock, valued at approximately $9,458,379. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Omar Ishrak sold 61,925 shares of Medtronic stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $84.93, for a total transaction of $5,259,290.25. Following the sale, the chief executive officer now directly owns 565,916 shares in the company, valued at approximately $48,063,245.88. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.
Medtronic plc (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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