PGGM Investments increased its stake in Medtronic PLC (NYSE:MDT) by 114.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,149,769 shares of the medical technology company’s stock after purchasing an additional 612,507 shares during the period. PGGM Investments owned 0.09% of Medtronic worth $130,441,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. LaFleur & Godfrey LLC lifted its holdings in shares of Medtronic by 10.5% in the 2nd quarter. LaFleur & Godfrey LLC now owns 6,341 shares of the medical technology company’s stock worth $618,000 after purchasing an additional 600 shares during the last quarter. Colonial Trust Advisors raised its stake in Medtronic by 2.2% during the 2nd quarter. Colonial Trust Advisors now owns 35,473 shares of the medical technology company’s stock valued at $3,455,000 after acquiring an additional 764 shares in the last quarter. Coldstream Capital Management Inc. raised its stake in Medtronic by 6.7% during the 3rd quarter. Coldstream Capital Management Inc. now owns 2,693 shares of the medical technology company’s stock valued at $292,000 after acquiring an additional 170 shares in the last quarter. Corient Capital Partners LLC raised its stake in Medtronic by 3.4% during the 3rd quarter. Corient Capital Partners LLC now owns 56,810 shares of the medical technology company’s stock valued at $6,171,000 after acquiring an additional 1,856 shares in the last quarter. Finally, BBVA USA Bancshares Inc. raised its stake in Medtronic by 10.4% during the 3rd quarter. BBVA USA Bancshares Inc. now owns 93,154 shares of the medical technology company’s stock valued at $10,118,000 after acquiring an additional 8,807 shares in the last quarter. 80.65% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Robert John White sold 52,165 shares of Medtronic stock in a transaction on Friday, November 1st. The stock was sold at an average price of $109.33, for a total transaction of $5,703,199.45. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Richard H. Anderson purchased 5,000 shares of the stock in a transaction dated Friday, December 6th. The shares were acquired 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 have sold 106,433 shares of company stock worth $11,704,539 in the last quarter. 0.28% of the stock is currently owned by corporate insiders.
Shares of NYSE MDT traded up $0.51 during mid-day trading on Friday, reaching $119.37. The company had a trading volume of 93,454 shares, compared to its average volume of 4,049,899. The company has a current ratio of 2.77, a quick ratio of 2.28 and a debt-to-equity ratio of 0.49. The stock has a market cap of $156.88 billion, a PE ratio of 22.87, a P/E/G ratio of 2.84 and a beta of 0.60. The company has a 50-day moving average price of $113.96 and a two-hundred day moving average price of $107.77. Medtronic PLC has a 1-year low of $82.77 and a 1-year high of $119.30.
Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, November 19th. The medical technology company reported $1.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.03. The business had revenue of $7.71 billion for the quarter, compared to analysts’ expectations of $7.66 billion. Medtronic had a return on equity of 14.52% and a net margin of 15.11%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.22 EPS. On average, research analysts expect that Medtronic PLC will post 5.6 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, December 27th will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date is Thursday, December 26th. Medtronic’s payout ratio is 41.38%.
Several brokerages have weighed in on MDT. Argus lifted their target price on Medtronic to $135.00 and gave the company a “buy” rating in a research note on Monday, November 25th. UBS Group lifted their target price on Medtronic from $127.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday. Guggenheim raised Medtronic from a “neutral” rating to a “buy” rating and set a $135.00 target price on the stock in a research note on Thursday, January 2nd. They noted that the move was a valuation call. JPMorgan Chase & Co. lifted their target price on Medtronic from $122.00 to $128.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Finally, SunTrust Banks initiated coverage on Medtronic in a research note on Tuesday, January 7th. They set a “buy” rating and a $130.00 target price on the stock. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Medtronic presently has an average rating of “Buy” and a consensus price target of $119.90.
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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