Honkamp Krueger Financial Services Inc. trimmed its stake in Medtronic PLC (NYSE:MDT) by 2.9% in the 4th quarter, HoldingsChannel reports. The firm owned 6,873 shares of the medical technology company’s stock after selling 203 shares during the period. Honkamp Krueger Financial Services Inc.’s holdings in Medtronic were worth $780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently bought and sold shares of the company. Kanawha Capital Management LLC grew its stake in Medtronic by 12.1% during the second quarter. Kanawha Capital Management LLC now owns 64,082 shares of the medical technology company’s stock worth $6,241,000 after purchasing an additional 6,913 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Medtronic by 9.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,499,865 shares of the medical technology company’s stock worth $1,412,142,000 after acquiring an additional 1,251,830 shares in the last quarter. Holocene Advisors LP bought a new position in Medtronic in the second quarter worth approximately $656,000. Putnam Investments LLC boosted its holdings in Medtronic by 20.0% in the second quarter. Putnam Investments LLC now owns 954,516 shares of the medical technology company’s stock worth $92,961,000 after acquiring an additional 159,339 shares in the last quarter. Finally, Gladstone Institutional Advisory LLC bought a new position in Medtronic in the second quarter worth approximately $383,000. Hedge funds and other institutional investors own 80.65% of the company’s stock.
In other news, EVP Robert John White sold 52,166 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $110.62, for a total value of $5,770,602.92. Following the transaction, the executive vice president now owns 77,510 shares in the company, valued at $8,574,156.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard H. Anderson bought 5,000 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was bought at an average price of $111.13 per share, for a total transaction of $555,650.00. The disclosure for this purchase can be found here. Insiders sold 106,433 shares of company stock worth $11,704,539 in the last 90 days. Corporate insiders own 0.28% of the company’s stock.
Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, November 19th. The medical technology company reported $1.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.03. Medtronic had a return on equity of 14.52% and a net margin of 15.11%. The company had revenue of $7.71 billion for the quarter, compared to analyst estimates of $7.66 billion. During the same quarter last year, the company earned $1.22 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, equities research analysts anticipate that Medtronic PLC will post 5.6 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, December 27th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Thursday, December 26th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.84%. Medtronic’s dividend payout ratio is presently 41.38%.
Several brokerages have issued reports on MDT. Guggenheim upgraded Medtronic from a “neutral” rating to a “buy” rating and set a $135.00 price target on the stock in a report on Thursday, January 2nd. They noted that the move was a valuation call. Deutsche Bank began coverage on Medtronic in a report on Friday, January 3rd. They issued a “buy” rating and a $99.00 price target on the stock. Morgan Stanley increased their price target on Medtronic from $116.00 to $123.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. SunTrust Banks began coverage on Medtronic in a report on Tuesday, January 7th. They issued a “buy” rating and a $130.00 price target on the stock. Finally, Royal Bank of Canada increased their price target on Medtronic from $118.00 to $122.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $119.52.
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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