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26,207 shares in Medtronic plc (NYSE:MDT) acquired by Petredis Investment Advisors LLC


Petredis Investment Advisors LLC acquired a new position in Medtronic plc (NYSE:MDT – Free Report) in the fourth quarter, the company said in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,207 shares of the medical technology company, valued at approximately $2,159,000.

Several other hedge funds and other institutional investors have also recently increased or decreased their stakes in MDT. Fortitude Family Office LLC acquired a new position in Medtronic in the fourth quarter valued at approximately $25,000. Leith Wheeler Investment Counsel Ltd. grew its stake in Medtronic by 293.0% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 316,643 shares of the medical technology company, valued at $26,000, after purchasing an additional 236,064 shares in the last quarter. MeadowBrook Investment Advisors LLC acquired a new position in Medtronic during the fourth quarter worth approximately $27,000. Financial Gravity Asset Management Inc. increased its stake in Medtronic by 317.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company worth $29,000, after purchasing an additional 279 shares in the last quarter. Finally, Hartford Financial Management Inc. expanded its stake in Medtronic by 52.1% in the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the medical technology company worth $39,000, after purchasing an additional 164 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s shares.

Medtronic shares fell 0.8%

Shares of MDT stock opened at $81.04 on Friday. The stock has a fifty-day moving average of $82.01 and a 200-day moving average of $83.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 1.55. The stock has a market cap of $107.61 billion, a price-to-earnings ratio of 29.47, a price-to-earnings growth ratio of 2.40 and a beta of 0.83. Medtronic plc has a one-year low of $68.84 and a one-year high of $91.00.

Medtronic (NYSE:MDT – Get Free Report) last reported its quarterly earnings data on Thursday, May 23. The medical technology company reported $1.46 earnings per share for the quarter, beating analyst consensus estimates of $1.45 by $0.01. The company had revenue of $8.59 billion during the quarter, compared to analyst estimates of $8.44 billion. Medtronic had a return on equity of 13.47% and a net margin of 11.36%. The company’s revenue rose 0.5% year over year. During the same period last year, the company earned $1.57 in earnings per share. Analysts predict that Medtronic plc will post 5.44 earnings per share for the current year.

Medtronic increases dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12. Shareholders of record on Friday, June 28 will receive a dividend of $0.70 per share. This is a positive change from Medtronic’s previous quarterly dividend of $0.69. This represents a dividend of $2.80 annually and a dividend yield of 3.46%. The ex-dividend date is Friday, June 28. Medtronic’s payout ratio currently stands at 100.36%.

Insider transactions at Medtronic

In other news, CEO Geoffrey Martha sold 19,113 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $83.77, for a total transaction of $1,601,096.01. Following the completion of the transaction, the CEO now directly owns 143,348 shares of the company’s stock, valued at approximately $12,008,261.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Geoffrey Martha sold 19,113 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $83.77, for a total transaction of $1,601,096.01. Following the completion of the transaction, the CEO now directly owns 143,348 shares of the company’s stock, valued at approximately $12,008,261.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Marinaro sold 854 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares sold at an average price of $83.14, for a total value of $71,001.56. Following the completion of the transaction, the executive vice president now owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The explanation of this sale can be found here. Corporate insiders own 0.30% of the company’s shares.

Analyst upgrades and downgrades

Several stock analysts have commented on the company. The Goldman Sachs Group began reporting on Medtronic in a report on Thursday, May 30. They set a sell rating and $83.00 price target for the stock. Oppenheimer raised their price objective on shares of Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 21st. Wells Fargo & Company lifted their price objective on shares of Medtronic from $102.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, May 24. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Friday, May 24. Finally, Mizuho raised their price objective on shares of Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of ‘Hold’ and an average price target of $93.00.

Get our latest research report on Medtronic

About Medtronic

(Free report)

Medtronic plc develops, manufactures and sells device-based medical therapies to healthcare systems, physicians, physicians and patients around the world. The Cardiovascular Portfolio segment offers implantable pacemakers, cardioverter defibrillators and cardiac resynchronization therapy devices; cardiac ablation products; Insertable cardiac monitoring systems; TYRX Products; and remote monitoring and patient-facing software.

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Quarterly Institutional Ownership for Medtronic (NYSE:MDT)



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