Artemis Investment Management LLP trimmed its stake in shares of Medtronic PLC (NYSE:MDT) by 27.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 63,673 shares of the medical technology company’s stock after selling 23,657 shares during the quarter. Artemis Investment Management LLP’s holdings in Medtronic were worth $6,907,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Krane Funds Advisors LLC bought a new stake in shares of Medtronic during the 2nd quarter valued at $25,000. River & Mercantile Asset Management LLP bought a new stake in shares of Medtronic during the 2nd quarter valued at $26,000. Lenox Wealth Advisors LLC raised its stake in shares of Medtronic by 393.3% during the 3rd quarter. Lenox Wealth Advisors LLC now owns 296 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 236 shares during the period. Redhawk Wealth Advisors Inc. bought a new stake in shares of Medtronic during the 2nd quarter valued at $34,000. Finally, Rocky Mountain Advisers LLC raised its stake in shares of Medtronic by 100.0% during the 2nd quarter. Rocky Mountain Advisers LLC now owns 400 shares of the medical technology company’s stock valued at $39,000 after purchasing an additional 200 shares during the period. Institutional investors own 81.03% of the company’s stock.
Shares of Medtronic stock opened at $107.58 on Friday. The company has a current ratio of 2.67, a quick ratio of 2.20 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $144.34 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 2.58 and a beta of 0.64. The business’s 50-day moving average price is $108.20 and its 200-day moving average price is $98.07. Medtronic PLC has a 12 month low of $81.66 and a 12 month high of $112.05.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, September 27th will be given a dividend of $0.54 per share. The ex-dividend date is Thursday, September 26th. This represents a $2.16 annualized dividend and a dividend yield of 2.01%. Medtronic’s dividend payout ratio (DPR) is presently 41.38%.
MDT has been the topic of a number of research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $133.00 target price on shares of Medtronic in a research note on Wednesday, August 28th. Wells Fargo & Co upped their target price on Medtronic from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. Raymond James upped their target price on Medtronic from $105.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. Royal Bank of Canada set a $110.00 target price on Medtronic and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, BTIG Research upped their target price on Medtronic to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $113.84.
In other news, EVP Hooman Hakami sold 82,877 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $107.31, for a total transaction of $8,893,530.87. Following the transaction, the executive vice president now directly owns 30,761 shares in the company, valued at approximately $3,300,962.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Richard Kuntz sold 3,438 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $101.12, for a total value of $347,650.56. The disclosure for this sale can be found here. Insiders have sold a total of 118,339 shares of company stock worth $12,619,053 over the last quarter. Corporate insiders own 0.28% of the company’s stock.
Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.
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