Medtronic PLC (MDT) Shares Sold by Swiss National Bank
Swiss National Bank reduced its stake in Medtronic PLC (NYSE:MDT) by 3.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,932,563 shares of the medical technology company’s stock after selling 176,300 shares during the period. Swiss National Bank owned 0.37% of Medtronic worth $485,216,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of MDT. Ballew Advisors Inc bought a new stake in shares of Medtronic during the second quarter worth about $100,000. Polaris Greystone Financial Group LLC increased its position in shares of Medtronic by 255.1% during the third quarter. Polaris Greystone Financial Group LLC now owns 1,321 shares of the medical technology company’s stock worth $130,000 after acquiring an additional 949 shares in the last quarter. Fort L.P. bought a new stake in shares of Medtronic during the second quarter worth about $121,000. Global Trust Asset Management LLC increased its position in shares of Medtronic by 112.1% during the second quarter. Global Trust Asset Management LLC now owns 1,523 shares of the medical technology company’s stock worth $130,000 after acquiring an additional 805 shares in the last quarter. Finally, Trustcore Financial Services LLC increased its position in shares of Medtronic by 97.3% during the second quarter. Trustcore Financial Services LLC now owns 1,760 shares of the medical technology company’s stock worth $151,000 after acquiring an additional 868 shares in the last quarter. 80.22% of the stock is owned by hedge funds and other institutional investors.
Medtronic stock opened at $92.11 on Thursday. Medtronic PLC has a fifty-two week low of $76.41 and a fifty-two week high of $100.15. The stock has a market cap of $125.11 billion, a P/E ratio of 19.31, a PEG ratio of 2.46 and a beta of 0.94. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.06 and a current ratio of 2.46.
The company also recently declared a quarterly dividend, which was paid on Friday, October 19th. Investors of record on Friday, September 28th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend was Thursday, September 27th. Medtronic’s dividend payout ratio (DPR) is presently 41.93%.
MDT has been the subject of several recent research reports. Morgan Stanley boosted their target price on shares of Medtronic from $95.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 22nd. Zacks Investment Research downgraded shares of Medtronic from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Needham & Company LLC raised shares of Medtronic from a “buy” rating to a “strong-buy” rating and boosted their target price for the stock from $103.00 to $119.00 in a research report on Monday, August 13th. Argus boosted their target price on shares of Medtronic from $95.00 to $108.00 and gave the stock a “buy” rating in a research report on Monday, August 27th. Finally, Wells Fargo & Co boosted their target price on shares of Medtronic from $95.00 to $101.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 22nd. Seven research 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 company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $102.58.
In other Medtronic news, EVP Geoffrey Martha sold 49,799 shares of the business’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $97.93, for a total value of $4,876,816.07. Following the transaction, the executive vice president now directly owns 87,872 shares in the company, valued at $8,605,304.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard H. Anderson bought 2,600 shares of the company’s stock in a transaction on Thursday, August 23rd. The stock was bought 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. Over the last 90 days, insiders have sold 268,678 shares of company stock worth $25,818,353. 0.28% of the stock is owned by corporate insiders.
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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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