Richard Kuntz Sells 17,141 Shares of Medtronic Inc. (MDT) Stock
Medtronic Inc. (NYSE:MDT) VP Richard Kuntz sold 17,141 shares of the company’s stock in a transaction dated Tuesday, September 27th. The shares were sold at an average price of $86.70, for a total transaction of $1,486,124.70. Following the completion of the sale, the vice president now directly owns 149,425 shares in the company, valued at $12,955,147.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Richard Kuntz also recently made the following trade(s):
- On Monday, September 26th, Richard Kuntz sold 25,199 shares of Medtronic stock. The shares were sold at an average price of $86.67, for a total transaction of $2,183,997.33.
Medtronic Inc. (NYSE:MDT) opened at 85.40 on Friday. Medtronic Inc. has a 52 week low of $67.23 and a 52 week high of $89.27. The company has a market cap of $118.02 billion, a P/E ratio of 33.23 and a beta of 0.88. The company’s 50-day moving average is $86.67 and its 200-day moving average is $83.19.
Medtronic (NYSE:MDT) last posted its earnings results on Thursday, August 25th. The medical technology company reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.02. The business had revenue of $7.20 billion for the quarter, compared to analyst estimates of $7.17 billion. Medtronic had a net margin of 12.70% and a return on equity of 12.06%. Medtronic’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.02 EPS. On average, analysts anticipate that Medtronic Inc. will post $4.66 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Thursday, September 29th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Tuesday, September 27th. Medtronic’s dividend payout ratio (DPR) is presently 66.93%.
Several research analysts have weighed in on the stock. Needham & Company LLC increased their price target on shares of Medtronic from $93.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, August 25th. Credit Suisse Group AG reissued an “outperform” rating and issued a $92.00 price target on shares of Medtronic in a report on Thursday, August 25th. Jefferies Group reissued a “buy” rating and issued a $93.00 price target on shares of Medtronic in a report on Thursday, August 25th. Cowen and Company set a $94.00 price target on shares of Medtronic and gave the company a “buy” rating in a report on Tuesday, August 23rd. Finally, Citigroup Inc. assumed coverage on shares of Medtronic in a report on Tuesday, August 23rd. They issued a “buy” rating and a $102.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $90.12.
A number of hedge funds have recently bought and sold shares of MDT. Macquarie Group Ltd. raised its stake in Medtronic by 39.9% in the second quarter. Macquarie Group Ltd. now owns 311,312 shares of the medical technology company’s stock worth $27,012,000 after buying an additional 88,819 shares during the period. Carnick & Kubik Group LLC bought a new position in shares of Medtronic during the second quarter worth approximately $917,000. Williams Jones & Associates LLC raised its position in shares of Medtronic by 10.6% in the second quarter. Williams Jones & Associates LLC now owns 57,933 shares of the medical technology company’s stock worth $5,027,000 after buying an additional 5,538 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Medtronic during the second quarter worth approximately $4,926,000. Finally, Kentucky Retirement Systems bought a new position in shares of Medtronic during the second quarter worth approximately $10,376,000. 83.11% of the stock is currently owned by institutional investors and hedge funds.
Medtronic plc (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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