Medtronic PLC (MDT) Shares Bought by Bahl & Gaynor Inc.
Bahl & Gaynor Inc. boosted its position in Medtronic PLC (NYSE:MDT) by 49.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,937,493 shares of the medical technology company’s stock after buying an additional 639,768 shares during the period. Medtronic makes up approximately 1.9% of Bahl & Gaynor Inc.’s portfolio, making the stock its 18th biggest position. Bahl & Gaynor Inc. owned approximately 0.14% of Medtronic worth $176,234,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. grew its holdings in shares of Medtronic by 82.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 256,079 shares of the medical technology company’s stock worth $25,200,000 after purchasing an additional 115,450 shares in the last quarter. AGF Investments Inc. grew its holdings in shares of Medtronic by 39.5% during the 3rd quarter. AGF Investments Inc. now owns 44,149 shares of the medical technology company’s stock worth $4,343,000 after purchasing an additional 12,490 shares in the last quarter. Brasada Capital Management LP grew its holdings in shares of Medtronic by 12.5% during the 3rd quarter. Brasada Capital Management LP now owns 9,000 shares of the medical technology company’s stock worth $885,000 after purchasing an additional 1,000 shares in the last quarter. Montag A & Associates Inc. grew its holdings in shares of Medtronic by 474.6% during the 3rd quarter. Montag A & Associates Inc. now owns 49,839 shares of the medical technology company’s stock worth $4,903,000 after purchasing an additional 41,165 shares in the last quarter. Finally, MML Investors Services LLC grew its holdings in shares of Medtronic by 33.8% during the 3rd quarter. MML Investors Services LLC now owns 77,141 shares of the medical technology company’s stock worth $7,588,000 after purchasing an additional 19,488 shares in the last quarter. 80.59% of the stock is owned by institutional investors and hedge funds.
Medtronic stock opened at $93.33 on Friday. The company has a current ratio of 2.36, a quick ratio of 1.92 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $123.98 billion, a price-to-earnings ratio of 19.57, a price-to-earnings-growth ratio of 2.40 and a beta of 0.82. Medtronic PLC has a 52 week low of $76.41 and a 52 week high of $100.15.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Friday, March 22nd will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Thursday, March 21st. Medtronic’s dividend payout ratio is currently 41.93%.
Several analysts have recently weighed in on MDT shares. Citigroup lowered Medtronic from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $109.00 to $96.00 in a report on Wednesday, January 2nd. ValuEngine lowered Medtronic from a “buy” rating to a “hold” rating in a research note on Monday, January 7th. JPMorgan Chase & Co. raised Medtronic from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $100.00 to $109.00 in a research note on Wednesday, December 19th. Morgan Stanley boosted their price target on Medtronic from $98.00 to $102.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 2nd. Finally, Deutsche Bank initiated coverage on Medtronic in a research note on Wednesday, January 2nd. They issued a “buy” rating and a $99.00 price target on the stock. Nine 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. The company has an average rating of “Buy” and a consensus price target of $104.32.
In other Medtronic news, CEO Omar Ishrak acquired 12,000 shares of Medtronic stock in a transaction on Wednesday, January 9th. The shares were bought at an average price of $84.05 per share, with a total value of $1,008,600.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Karen L. Parkhill acquired 3,000 shares of Medtronic stock in a transaction on Wednesday, January 9th. The stock was acquired at an average cost of $83.87 per share, for a total transaction of $251,610.00. The disclosure for this purchase can be found here. 0.28% of the stock is currently owned by 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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