Medtronic PLC (MDT) Holdings Cut by World Asset Management Inc
World Asset Management Inc reduced its stake in shares of Medtronic PLC (NYSE:MDT) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,070 shares of the medical technology company’s stock after selling 2,029 shares during the quarter. World Asset Management Inc owned 9,233.05% of Medtronic worth $9,727,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in MDT. Parkside Financial Bank & Trust grew its holdings in shares of Medtronic by 22.4% during the second quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock worth $102,000 after purchasing an additional 210 shares during the last quarter. BDO Wealth Advisors LLC bought a new stake in shares of Medtronic during the second quarter worth $103,000. Motco grew its holdings in shares of Medtronic by 8.7% during the second quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after purchasing an additional 99 shares during the last quarter. Farmers National Bank bought a new stake in shares of Medtronic during the first quarter worth $121,000. Finally, Israel Discount Bank of New York bought a new stake in shares of Medtronic during the first quarter worth $117,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.
In related news, EVP Bryan C. Hanson sold 16,000 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $79.02, for a total value of $1,264,320.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.31% of the stock is owned by company insiders.
Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.08. The business had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $7.05 billion. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.12 earnings per share. equities analysts forecast that Medtronic PLC will post 4.77 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Friday, December 29th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Thursday, December 28th. Medtronic’s dividend payout ratio is 50.41%.
Several analysts have recently commented on the company. Argus upgraded Medtronic from a “hold” rating to a “buy” rating and increased their target price for the stock from $81.27 to $95.00 in a report on Tuesday. They noted that the move was a valuation call. BMO Capital Markets increased their target price on Medtronic to $94.00 and gave the stock an “outperform” rating in a report on Tuesday. Jefferies Group restated a “buy” rating and set a $99.00 target price on shares of Medtronic in a report on Thursday, November 23rd. Zacks Investment Research upgraded Medtronic from a “sell” rating to a “hold” rating in a report on Thursday, November 23rd. Finally, Northland Securities restated a “hold” rating and set a $80.00 target price on shares of Medtronic in a report on Wednesday, November 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Medtronic presently has an average rating of “Hold” and an average target price of $88.57.
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Medtronic Company Profile
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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