Convergence Investment Partners LLC bought a new stake in Medtronic plc. (NYSE:MDT) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,524 shares of the medical technology company’s stock, valued at approximately $204,000.
A number of other institutional investors have also recently bought and sold shares of MDT. Liberty Capital Management Inc. increased its stake in shares of Medtronic by 9.5% in the second quarter. Liberty Capital Management Inc. now owns 2,311 shares of the medical technology company’s stock valued at $202,000 after buying an additional 200 shares during the period. Bank of Stockton acquired a new stake in shares of Medtronic in the second quarter valued at about $212,000. Gateway Advisory LLC increased its stake in shares of Medtronic by 10.0% in the second quarter. Gateway Advisory LLC now owns 3,210 shares of the medical technology company’s stock valued at $285,000 after buying an additional 292 shares during the period. Enterprise Financial Services Corp increased its stake in shares of Medtronic by 159.9% in the second quarter. Enterprise Financial Services Corp now owns 2,846 shares of the medical technology company’s stock valued at $253,000 after buying an additional 1,751 shares during the period. Finally, Dock Street Asset Management Inc. increased its stake in shares of Medtronic by 6.2% in the second quarter. Dock Street Asset Management Inc. now owns 2,973 shares of the medical technology company’s stock valued at $264,000 after buying an additional 173 shares during the period. Hedge funds and other institutional investors own 81.75% of the company’s stock.
Shares of Medtronic plc. (NYSE:MDT) opened at $86.68 on Friday. The company has a quick ratio of 2.05, a current ratio of 2.40 and a debt-to-equity ratio of 0.50. Medtronic plc. has a one year low of $73.59 and a one year high of $89.72. The company has a market capitalization of $117,320.00, a P/E ratio of 23.81, a price-to-earnings-growth ratio of 2.40 and a beta of 0.99.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 19th. Shareholders of record on Friday, December 29th were paid a $0.46 dividend. The ex-dividend date was Thursday, December 28th. This represents a $1.84 dividend on an annualized basis and a yield of 2.12%. Medtronic’s dividend payout ratio (DPR) is presently 50.55%.
In other Medtronic news, EVP Bryan C. Hanson sold 16,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $82.82, for a total value of $1,325,120.00. Following the completion of the sale, the executive vice president now owns 88,818 shares of the company’s stock, valued at $7,355,906.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Richard Kuntz sold 78,526 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $86.21, for a total value of $6,769,726.46. Following the completion of the sale, the vice president now directly owns 149,761 shares of the company’s stock, valued at approximately $12,910,895.81. The disclosure for this sale can be found here. Insiders sold 136,684 shares of company stock valued at $11,582,596 in the last three months. Insiders own 0.31% of the company’s stock.
Several equities research analysts have recently weighed in on MDT shares. Needham & Company LLC reissued a “buy” rating and issued a $94.00 price target on shares of Medtronic in a research note on Thursday, November 9th. SunTrust Banks set a $92.00 target price on Medtronic and gave the stock a “buy” rating in a research note on Sunday, November 19th. Royal Bank of Canada decreased their target price on Medtronic from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Monday, October 9th. Evercore ISI began coverage on Medtronic in a research note on Wednesday, January 3rd. They set an “outperform” rating and a $92.50 target price for the company. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $89.00 target price (down previously from $92.00) on shares of Medtronic in a research note on Tuesday, October 10th. Two investment 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’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $89.65.
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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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