Cwm LLC Boosts Stake in Medtronic plc. (MDT)
Cwm LLC grew its stake in shares of Medtronic plc. (NYSE:MDT) by 8.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 72,809 shares of the medical technology company’s stock after buying an additional 5,403 shares during the quarter. Cwm LLC’s holdings in Medtronic were worth $5,879,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of MDT. Janus Henderson Group PLC purchased a new position in Medtronic in the 3rd quarter worth $579,952,000. Lazard Asset Management LLC raised its position in Medtronic by 43.8% in the 2nd quarter. Lazard Asset Management LLC now owns 19,669,866 shares of the medical technology company’s stock worth $1,745,699,000 after purchasing an additional 5,991,094 shares during the period. Alliancebernstein L.P. raised its position in Medtronic by 135.5% in the 2nd quarter. Alliancebernstein L.P. now owns 6,070,160 shares of the medical technology company’s stock worth $538,727,000 after purchasing an additional 3,493,058 shares during the period. BlackRock Inc. raised its position in Medtronic by 2.8% in the 2nd quarter. BlackRock Inc. now owns 89,512,229 shares of the medical technology company’s stock worth $7,944,210,000 after purchasing an additional 2,476,853 shares during the period. Finally, Vanguard Group Inc. raised its position in Medtronic by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 104,776,036 shares of the medical technology company’s stock worth $9,298,872,000 after purchasing an additional 2,454,380 shares during the period. Hedge funds and other institutional investors own 81.75% of the company’s stock.
A number of brokerages recently commented on MDT. Jefferies Group reiterated a “buy” rating and issued a $96.00 target price on shares of Medtronic in a research report on Thursday, September 28th. SunTrust Banks reiterated a “buy” rating and issued a $96.00 target price on shares of Medtronic in a research report on Monday, October 2nd. Stifel Nicolaus decreased their target price on shares of Medtronic from $91.00 to $83.00 and set a “hold” rating on the stock in a research report on Monday, October 9th. Wells Fargo & Co cut shares of Medtronic from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $93.00 to $83.00 in a research report on Monday, October 9th. Finally, Needham & Company LLC decreased their target price on shares of Medtronic from $95.00 to $94.00 and set a “buy” rating on the stock in a research report on Tuesday, October 10th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $89.65.
Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. The business had revenue of $7.05 billion for the quarter, compared to analyst estimates of $7.05 billion. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The company’s revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.12 EPS. equities analysts expect that Medtronic plc. will post 4.77 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Thursday, December 28th. Medtronic’s payout ratio is 50.41%.
In other news, VP Richard Kuntz sold 78,526 shares of Medtronic stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $86.21, for a total transaction of $6,769,726.46. Following the sale, the vice president now owns 149,761 shares of the company’s stock, valued at approximately $12,910,895.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Bryan C. Hanson sold 16,000 shares of Medtronic stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $79.02, for a total transaction of $1,264,320.00. The disclosure for this sale can be found here. Insiders have sold a total of 136,684 shares of company stock worth $11,582,596 in the last ninety days. Insiders own 0.31% of the company’s stock.
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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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