Evercore Wealth Management LLC increased its holdings in shares of Medtronic plc. (NYSE:MDT) by 87.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,949 shares of the medical technology company’s stock after acquiring an additional 15,812 shares during the quarter. Evercore Wealth Management LLC’s holdings in Medtronic were worth $2,641,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Lazard Asset Management LLC raised its stake in shares of Medtronic by 43.8% in the second quarter. Lazard Asset Management LLC now owns 19,669,866 shares of the medical technology company’s stock valued at $1,745,699,000 after buying an additional 5,991,094 shares during the period. Alliancebernstein L.P. raised its stake in shares of Medtronic by 135.5% in the second quarter. Alliancebernstein L.P. now owns 6,070,160 shares of the medical technology company’s stock valued at $538,727,000 after buying an additional 3,493,058 shares during the period. BlackRock Inc. raised its stake in shares of Medtronic by 2.8% in the second quarter. BlackRock Inc. now owns 89,512,229 shares of the medical technology company’s stock valued at $7,944,210,000 after buying an additional 2,476,853 shares during the period. Vanguard Group Inc. raised its stake in shares of Medtronic by 2.4% in the second quarter. Vanguard Group Inc. now owns 104,776,036 shares of the medical technology company’s stock valued at $9,298,872,000 after buying an additional 2,454,380 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of Medtronic by 35.0% in the third quarter. American Century Companies Inc. now owns 9,082,452 shares of the medical technology company’s stock valued at $706,342,000 after buying an additional 2,354,467 shares during the period. Institutional investors and hedge funds own 81.72% of the company’s stock.
Medtronic plc. (NYSE:MDT) opened at $85.54 on Friday. Medtronic plc. has a 52-week low of $71.11 and a 52-week high of $89.72. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.05 and a current ratio of 2.40. The company has a market capitalization of $113,860.00, a PE ratio of 23.50, a P/E/G ratio of 2.31 and a beta of 0.99.
Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.08. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The business had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $7.05 billion. During the same period in the previous year, the business earned $1.12 earnings per share. The firm’s revenue was down 4.0% on a year-over-year basis. equities research analysts predict that Medtronic plc. will post 4.77 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Friday, December 29th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.15%. The ex-dividend date is Thursday, December 28th. Medtronic’s payout ratio is 50.55%.
In other Medtronic news, EVP Bryan C. Hanson sold 16,000 shares of Medtronic stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $78.03, for a total transaction of $1,248,480.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have sold 48,000 shares of company stock valued at $3,837,920. Corporate insiders own 0.31% of the company’s stock.
Several analysts have issued reports on the company. Evercore ISI assumed coverage on Medtronic in a research note on Wednesday. They issued an “outperform” rating and a $92.50 target price on the stock. Bank of America upgraded Medtronic from a “neutral” rating to a “buy” rating in a research note on Tuesday. Oppenheimer restated a “buy” rating on shares of Medtronic in a research note on Thursday, December 21st. Argus upgraded Medtronic from a “hold” rating to a “buy” rating and boosted their target price for the company from $81.27 to $95.00 in a research note on Tuesday, December 12th. They noted that the move was a valuation call. Finally, BMO Capital Markets boosted their target price on Medtronic to $94.00 and gave the company an “outperform” rating in a research note on Tuesday, December 12th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price 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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