Garrison Financial Corp increased its position in shares of Medtronic Inc. (NYSE:MDT) by 4.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,835 shares of the medical technology company’s stock after buying an additional 1,414 shares during the period. Medtronic comprises 2.1% of Garrison Financial Corp’s holdings, making the stock its 20th largest position. Garrison Financial Corp’s holdings in Medtronic were worth $3,109,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Kelman Lazarov Inc. raised its stake in Medtronic by 17.4% in the second quarter. Kelman Lazarov Inc. now owns 1,517 shares of the medical technology company’s stock valued at $132,000 after buying an additional 225 shares during the last quarter. Arcadia Investment Management Corp MI raised its stake in 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 valued at $148,000 after buying an additional 700 shares during the last quarter. Kistler Tiffany Companies LLC raised its stake in Medtronic by 2.1% in the second quarter. Kistler Tiffany Companies LLC now owns 1,776 shares of the medical technology company’s stock valued at $154,000 after buying an additional 36 shares during the last quarter. MU Investments Co. Ltd. acquired a new stake in Medtronic during the second quarter valued at approximately $162,000. Finally, Telemus Capital LLC acquired a new stake in Medtronic during the second quarter valued at approximately $214,000. 83.11% of the stock is currently owned by hedge funds and other institutional investors.
Medtronic Inc. (NYSE:MDT) traded down 0.32% during midday trading on Tuesday, reaching $86.11. 4,092,654 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $86.54 and its 200 day moving average is $83.50. The firm has a market capitalization of $119.00 billion, a P/E ratio of 33.51 and a beta of 0.88. Medtronic Inc. has a 52 week low of $69.74 and a 52 week high of $89.27.
Medtronic (NYSE:MDT) last announced its earnings results on Thursday, August 25th. The medical technology company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.02. The company earned $7.20 billion during the quarter, compared to analysts’ expectations of $7.17 billion. Medtronic had a net margin of 12.70% and a return on equity of 12.06%. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.02 earnings per share. On average, analysts expect 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 given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Tuesday, September 27th. Medtronic’s dividend payout ratio is presently 66.93%.
A number of brokerages have weighed in on MDT. Vetr downgraded shares of Medtronic from a “buy” rating to a “hold” rating and set a $87.96 price objective for the company. in a research report on Wednesday, June 29th. BTIG Research reiterated a “hold” rating on shares of Medtronic in a research report on Monday, June 27th. Needham & Company LLC reiterated a “buy” rating on shares of Medtronic in a research report on Monday, June 27th. SunTrust Banks Inc. upped their price objective on shares of Medtronic from $93.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, June 13th. Finally, Argus reiterated a “hold” rating on shares of Medtronic in a research report on Monday, June 20th. Six investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $90.12.
In other news, CEO Omar Ishrak sold 61,925 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 565,916 shares of the company’s stock, valued at $48,063,245.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Richard Kuntz sold 25,199 shares of the business’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $86.67, for a total transaction of $2,183,997.33. Following the completion of the transaction, the vice president now directly owns 149,425 shares of the company’s stock, valued at approximately $12,950,664.75. The disclosure for this sale can be found here. 0.25% of the stock is currently 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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