MU Investments Co. Ltd. bought a new position in shares of Medtronic Inc. (NYSE:MDT) during the second quarter, Holdings Channel reports. The firm bought 1,900 shares of the medical technology company’s stock, valued at approximately $162,000.
Several other large investors also recently made changes to their positions in MDT. 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 during the last quarter. Arcadia Investment Management Corp MI raised its stake in shares of Medtronic by 70.0% in the second quarter. Arcadia Investment Management Corp MI now owns 1,700 shares of the medical technology company’s stock worth $148,000 after buying an additional 700 shares during the last quarter. Kistler Tiffany Companies LLC raised its stake in shares of Medtronic by 2.1% in the second quarter. Kistler Tiffany Companies LLC now owns 1,776 shares of the medical technology company’s stock worth $154,000 after buying an additional 36 shares during the last quarter. Telemus Capital LLC bought a new stake in shares of Medtronic during the second quarter worth $214,000. Finally, Kovitz Investment Group Partners LLC bought a new stake in shares of Medtronic during the first quarter worth $215,000. 83.11% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Medtronic Inc. (NYSE:MDT) traded up 1.17% during mid-day trading on Friday, hitting $86.40. 5,001,010 shares of the stock were exchanged. Medtronic Inc. has a 52-week low of $68.85 and a 52-week high of $89.27. The stock’s 50-day moving average price is $86.63 and its 200-day moving average price is $83.26. The company has a market cap of $119.40 billion, a P/E ratio of 33.62 and a beta of 0.88.
Medtronic (NYSE:MDT) last released its quarterly earnings results on Thursday, August 25th. The medical technology company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.02. Medtronic had a net margin of 12.70% and a return on equity of 12.06%. The business had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same period last year, the business earned $1.02 EPS. The company’s revenue was down 1.0% compared to the same quarter last year. Equities research analysts anticipate that Medtronic Inc. will post $4.66 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Thursday, September 29th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Tuesday, September 27th. Medtronic’s dividend payout ratio (DPR) is presently 66.93%.
Several research firms recently commented on MDT. Deutsche Bank AG reissued a “buy” rating and set a $90.00 price objective on shares of Medtronic in a research note on Wednesday, June 15th. Argus reissued a “hold” rating on shares of Medtronic in a research note on Monday, June 20th. Needham & Company LLC reissued a “buy” rating and set a $93.00 price objective (up previously from $90.00) on shares of Medtronic in a research note on Tuesday, June 7th. Jefferies Group reissued a “buy” rating and set a $93.00 price objective on shares of Medtronic in a research note on Thursday, August 25th. Finally, Zacks Investment Research raised shares of Medtronic from a “sell” rating to a “hold” rating in a research note on Thursday, June 2nd. Six analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Medtronic currently has a consensus rating of “Buy” and a consensus price target of $90.12.
In related news, Director Shirley A. Jackson sold 2,104 shares of Medtronic stock in a transaction that occurred on Wednesday, July 13th. The shares were sold at an average price of $88.64, for a total value of $186,498.56. Following the completion of the sale, the director now directly owns 34,503 shares in the company, valued at approximately $3,058,345.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard Kuntz sold 17,141 shares of Medtronic stock in a transaction that occurred on Tuesday, September 27th. The stock was sold at an average price of $86.70, for a total transaction of $1,486,124.70. Following the completion of the sale, the vice president now owns 149,425 shares of the company’s stock, valued at $12,955,147.50. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.
Medtronic Company Profile
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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