Northside Capital Management LLC maintained its stake in shares of Medtronic Inc. (NYSE:MDT) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 2,976 shares of the medical technology company’s stock at the end of the second quarter. Northside Capital Management LLC’s holdings in Medtronic were worth $258,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Kelman Lazarov Inc. boosted 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 period. Arcadia Investment Management Corp MI boosted 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 period. Kistler Tiffany Companies LLC boosted 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 period. MU Investments Co. Ltd. acquired a new stake in shares of Medtronic during the second quarter worth approximately $162,000. Finally, Telemus Capital LLC acquired a new stake in shares of Medtronic during the second quarter worth approximately $214,000. Hedge funds and other institutional investors own 83.11% of the company’s stock.
Medtronic Inc. (NYSE:MDT) traded down 0.01% on Monday, reaching $86.39. The company’s stock had a trading volume of 3,205,333 shares. The company has a market capitalization of $119.39 billion, a price-to-earnings ratio of 33.61 and a beta of 0.88. Medtronic Inc. has a 12-month low of $68.85 and a 12-month high of $89.27. The firm has a 50-day moving average of $86.60 and a 200 day moving average of $83.43.
Medtronic (NYSE:MDT) last announced its quarterly earnings data on Thursday, August 25th. The medical technology company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.02. Medtronic had a return on equity of 12.06% and a net margin of 12.70%. The firm earned $7.20 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same period last year, the business posted $1.02 earnings per share. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. On average, equities research analysts anticipate that Medtronic Inc. will post $4.66 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 21st. Stockholders of record on Thursday, September 29th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Tuesday, September 27th. Medtronic’s payout ratio is 66.93%.
A number of brokerages have recently commented on MDT. Evercore ISI restated a “buy” rating and set a $86.50 target price on shares of Medtronic in a report on Monday, June 27th. BMO Capital Markets restated a “buy” rating on shares of Medtronic in a report on Tuesday, June 7th. BTIG Research restated a “hold” rating on shares of Medtronic in a report on Monday, June 27th. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of Medtronic in a research note on Tuesday, June 7th. Finally, Wells Fargo & Co. reiterated a “buy” rating on shares of Medtronic in a research note on Tuesday, June 7th. Six investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Medtronic presently has a consensus rating of “Buy” and an average price target of $90.12.
In related news, EVP Bryan C. Hanson sold 15,000 shares of Medtronic stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $87.00, for a total transaction of $1,305,000.00. Following the completion of the transaction, the executive vice president now directly owns 108,717 shares in the company, valued at $9,458,379. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Omar Ishrak sold 61,925 shares of Medtronic stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $84.93, for a total value of $5,259,290.25. Following the transaction, the chief executive officer now owns 565,916 shares of the company’s stock, valued at $48,063,245.88. The disclosure for this sale can be found here. 0.25% of the stock is owned by 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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