Davidson Investment Advisors boosted its position in Medtronic plc (NYSE:MDT – Get Rating ) by 2.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 263,752 shares of the medical technology company’s stock after acquiring an additional 6,608 shares during the period. Medtronic accounts for approximately 1.8% of Davidson Investment Advisors’ holdings, making the stock its 13th biggest holding. Davidson Investment Advisors’ holdings in Medtronic were worth $21,298,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. Legal & General Group Plc boosted its holdings in shares of Medtronic by 2.9% during the second quarter. Legal & General Group Plc now owns 10,400,960 shares of the medical technology company’s stock valued at $933,492,000 after purchasing an additional 292,575 shares during the last quarter. Amundi boosted its holdings in shares of Medtronic by 23.4% during the second quarter. Amundi now owns 8,894,470 shares of the medical technology company’s stock valued at $778,357,000 after purchasing an additional 1,689,473 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Medtronic by 1.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,801,196 shares of the medical technology company’s stock valued at $754,593,000 after buying an additional 128,661 shares during the last quarter. Dodge & Cox boosted its holdings in shares of Medtronic by 0.4% in the second quarter. Dodge & Cox now owns 4,594,999 shares of the medical technology company’s stock valued at $412,401,000 after buying an additional 17,593 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Medtronic by 4.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,525,318 shares of the medical technology company’s stock valued at $406,147,000 after purchasing an additional 185,302 shares in the last quarter. 80.37% of the shares are currently owned by institutional investors and hedge funds.
Insider buying and selling
In other Medtronic news, EVP Sean Salmon sold 16,631 shares of Medtronic stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $80.50, for a total transaction of $1,338,795.50. Following the transaction, the executive vice president now directly owns 36,088 shares of the company’s stock, valued at $2,905,084. The sale was disclosed in a legal filing with the Securities and Exchange Commission, which is available on the SEC’s website. 0.29% of shares are currently owned by company insiders.
Medtronic price performance
Shares of NYSE MDT traded up $0.38 during trading on Friday, reaching $82.22. The company had a trading volume of 1,313,812 shares, compared to its average volume of 6,791,662. The stock has a fifty day simple moving average of $78.91 and a two hundred day simple moving average of $84.53. Medtronic plc has a fifty-two week low of $75.76 and a fifty-two week high of $114.31. The firm has a market cap of $109.37 billion, a price-to-earnings ratio of 25.53, a price-to-earnings-growth ratio of 1.99 and a beta of 0.72. The company has a quick ratio of 1.41, a current ratio of 1.76 and a debt-to-equity ratio of 0.40.
Medtronic (NYSE:MDT – Get Rating ) last posted its quarterly earnings results on Tuesday, November 22nd. The medical technology company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.02. The firm had revenue of $7.59 billion for the quarter, compared to analyst estimates of $7.70 billion. Medtronic had a net margin of 14.03% and a return on equity of 13.52%. Medtronic’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the business reported $1.32 earnings per share. On average, analysts expect that Medtronic plc will post 5.26 earnings per share for the current year.
Medtronic Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Wednesday, December 21st were given a dividend of $0.68 per share. The ex-dividend date was Tuesday, December 20th. This represents an annualized dividend of $2.72 and a yield of 3.31%. Medtronic’s payout ratio is currently 84.47%.
Promote and demote an analyst
Several research analysts have recently issued reports on the stock. Cowen reduced their target price on shares of Medtronic from $117.00 to $90.00 in a report on Wednesday, November 23rd. Wells Fargo & Company cut their target price on shares of Medtronic from $82.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, November 30th. Stifel Nicolaus cut their target price on shares of Medtronic from $105.00 to $90.00 in a report on Wednesday, November 23rd. Truist Financial reduced their target price on shares of Medtronic from $89.00 to $84.00 in a report on Wednesday, November 23rd. Finally, StockNews.com assumed coverage on shares of Medtronic in a report on Wednesday, October 12th. They assign a “buy” rating to the company. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the stock. Medtronic presently has a consensus rating of “Hold” and a consensus target price of $94.25, according to MarketBeat .
Medtronic Company Profile
Medtronic Plc is a medical technology company that develops, manufactures, distributes and sells device-based medical therapies and services. It operates through the following segments: Cardiovascular Portfolio, Neurological Portfolio, Medical Surgical Portfolio and Diabetic Operating Unit.
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