Medtronic plc. (MDT) Position Raised by Olstein Capital Management L.P.
Olstein Capital Management L.P. boosted its position in Medtronic plc. (NYSE:MDT) by 21.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 111,000 shares of the medical technology company’s stock after acquiring an additional 19,850 shares during the period. Medtronic accounts for about 1.1% of Olstein Capital Management L.P.’s holdings, making the stock its 28th biggest position. Olstein Capital Management L.P.’s holdings in Medtronic were worth $8,632,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in MDT. Parkside Financial Bank & Trust lifted its holdings in shares of Medtronic by 22.4% in the second quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock valued at $102,000 after purchasing an additional 210 shares in the last quarter. BDO Wealth Advisors LLC bought a new position in shares of Medtronic in the second quarter valued at approximately $103,000. Motco lifted its holdings in shares of Medtronic by 8.7% in the second quarter. Motco now owns 1,239 shares of the medical technology company’s stock valued at $110,000 after purchasing an additional 99 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Medtronic by 21.5% in the second quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock valued at $114,000 after purchasing an additional 290 shares in the last quarter. Finally, Blue Chip Partners Inc. bought a new position in shares of Medtronic in the third quarter valued at approximately $118,000. Institutional investors and hedge funds own 81.72% of the company’s stock.
In other news, EVP Bryan C. Hanson sold 16,000 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $82.82, for a total value of $1,325,120.00. Following the completion of the sale, the executive vice president now owns 88,818 shares of the company’s stock, valued at approximately $7,355,906.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last three months, insiders sold 48,000 shares of company stock valued at $3,837,920. 0.31% of the stock is currently owned by corporate insiders.
Shares of Medtronic plc. (MDT) opened at $81.47 on Wednesday. The stock has a market capitalization of $110,360.00, a price-to-earnings ratio of 22.38, a P/E/G ratio of 2.25 and a beta of 1.00. Medtronic plc. has a 52 week low of $69.35 and a 52 week high of $89.72. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.05 and a current ratio of 2.40.
Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.08. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The firm had revenue of $7.05 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same quarter in the previous year, the company posted $1.12 earnings per share. The company’s revenue was down 4.0% compared to the same quarter last year. equities analysts expect that Medtronic plc. will post 4.77 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 19th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Thursday, December 28th. Medtronic’s dividend payout ratio (DPR) is currently 50.55%.
A number of research analysts have recently weighed in on MDT shares. Needham & Company LLC restated a “buy” rating and issued a $94.00 target price on shares of Medtronic in a report on Thursday, November 9th. Zacks Investment Research lowered Medtronic from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. SunTrust Banks set a $92.00 price target on Medtronic and gave the company a “buy” rating in a research report on Sunday, November 19th. Royal Bank of Canada decreased their price target on Medtronic from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, October 9th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $89.00 price target (down from $92.00) on shares of Medtronic in a research report on Tuesday, October 10th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $88.57.
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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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