Quadrant Private Wealth Management LLC increased its position in Medtronic PLC (NYSE:MDT) by 26.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,326 shares of the medical technology company’s stock after acquiring an additional 689 shares during the period. Quadrant Private Wealth Management LLC’s holdings in Medtronic were worth $327,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Point72 Asset Management L.P. grew its holdings in Medtronic by 11.1% during the second quarter. Point72 Asset Management L.P. now owns 823,622 shares of the medical technology company’s stock valued at $70,510,000 after purchasing an additional 82,423 shares during the period. Affiance Financial LLC grew its holdings in Medtronic by 18.6% during the second quarter. Affiance Financial LLC now owns 8,080 shares of the medical technology company’s stock valued at $692,000 after purchasing an additional 1,268 shares during the period. Royal London Asset Management Ltd. bought a new stake in Medtronic during the second quarter valued at about $49,276,000. First Hawaiian Bank bought a new stake in Medtronic during the third quarter valued at about $3,143,000. Finally, WINTON GROUP Ltd grew its holdings in Medtronic by 60.2% during the second quarter. WINTON GROUP Ltd now owns 99,746 shares of the medical technology company’s stock valued at $8,539,000 after purchasing an additional 37,482 shares during the period. 80.00% of the stock is owned by institutional investors.

Shares of Medtronic stock opened at $94.36 on Friday. Medtronic PLC has a 52 week low of $76.41 and a 52 week high of $100.15. The stock has a market capitalization of $127.11 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 2.50 and a beta of 0.94. The company has a current ratio of 2.46, a quick ratio of 2.06 and a debt-to-equity ratio of 0.47.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 21st. The medical technology company reported $1.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.06. Medtronic had a return on equity of 12.98% and a net margin of 10.56%. The business had revenue of $7.38 billion for the quarter, compared to the consensus estimate of $7.24 billion. During the same period in the previous year, the business earned $1.12 earnings per share. The business’s revenue was down .1% on a year-over-year basis. On average, equities research analysts anticipate that Medtronic PLC will post 5.12 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 19th. Stockholders of record on Friday, September 28th were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $2.00 annualized dividend and a dividend yield of 2.12%. Medtronic’s payout ratio is 41.93%.

MDT has been the subject of several recent research reports. Morgan Stanley boosted their price target on Medtronic from $95.00 to $105.00 and gave the company an “equal weight” rating in a report on Wednesday, August 22nd. Zacks Investment Research lowered Medtronic from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Needham & Company LLC raised Medtronic from a “buy” rating to a “strong-buy” rating and boosted their price target for the company from $103.00 to $119.00 in a report on Monday, August 13th. Argus boosted their price target on Medtronic from $95.00 to $108.00 and gave the company a “buy” rating in a report on Monday, August 27th. Finally, Wells Fargo & Co boosted their price target on Medtronic from $95.00 to $101.00 and gave the company a “market perform” rating in a report on Wednesday, August 22nd. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $102.58.

In other news, EVP Michael J. Coyle sold 145,544 shares of the business’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $95.50, for a total value of $13,899,452.00. Following the transaction, the executive vice president now directly owns 190,680 shares in the company, valued at $18,209,940. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard H. Anderson acquired 2,600 shares of the stock in a transaction dated Thursday, August 23rd. The stock was acquired at an average price of $95.88 per share, for a total transaction of $249,288.00. The disclosure for this purchase can be found here. Insiders sold 268,678 shares of company stock worth $25,818,353 over the last 90 days. Company insiders own 0.28% of the company’s stock.

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Medtronic Company Profile

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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