Nepsis Capital Management Inc. Reduces Position in Medtronic plc. (MDT)
Nepsis Capital Management Inc. cut its position in shares of Medtronic plc. (NYSE:MDT) by 22.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,283 shares of the medical technology company’s stock after selling 9,412 shares during the period. Medtronic makes up about 1.4% of Nepsis Capital Management Inc.’s portfolio, making the stock its 29th biggest holding. Nepsis Capital Management Inc.’s holdings in Medtronic were worth $2,688,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in MDT. BDO Wealth Advisors LLC bought a new stake in shares of Medtronic in the 2nd quarter valued at approximately $103,000. Motco lifted its stake in shares of Medtronic by 8.7% in the 2nd quarter. Motco now owns 1,239 shares of the medical technology company’s stock valued at $110,000 after purchasing an additional 99 shares during the last quarter. Blue Chip Partners Inc. bought a new stake in shares of Medtronic in the 3rd quarter valued at approximately $118,000. Quadrant Capital Group LLC lifted its stake in shares of Medtronic by 21.5% in the 2nd 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 during the last quarter. Finally, Westwood Holdings Group Inc. bought a new stake in shares of Medtronic in the 2nd quarter valued at approximately $151,000. 81.75% of the stock is owned by institutional investors.
Several equities research analysts have recently weighed in on the company. Oppenheimer set a $94.00 price target on Medtronic and gave the stock a “buy” rating in a report on Friday. Stifel Nicolaus increased their price target on Medtronic from $83.00 to $85.00 and gave the stock a “hold” rating in a report on Wednesday, November 22nd. Northland Securities reiterated a “hold” rating and issued a $80.00 price target on shares of Medtronic in a report on Wednesday, November 22nd. Zacks Investment Research upgraded Medtronic from a “sell” rating to a “hold” rating in a report on Thursday, November 23rd. Finally, Jefferies Group reiterated a “buy” rating and issued a $99.00 price target on shares of Medtronic in a report on Thursday, November 23rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the stock. Medtronic currently has an average rating of “Buy” and a consensus target price of $89.65.
Medtronic plc. (NYSE:MDT) opened at $86.68 on Friday. The company has a market capitalization of $118,106.23, a price-to-earnings ratio of 23.75, a price-to-earnings-growth ratio of 2.40 and a beta of 1.00. Medtronic plc. has a fifty-two week low of $73.59 and a fifty-two week high of $89.72. The company has a current ratio of 2.40, a quick ratio of 2.05 and a debt-to-equity ratio of 0.50.
Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.99 by $0.08. The company had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $7.05 billion. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. Medtronic’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period last year, the business posted $1.12 EPS. equities analysts predict that Medtronic plc. will post 4.77 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 19th. Shareholders of record on Friday, December 29th were issued a dividend of $0.46 per share. The ex-dividend date was Thursday, December 28th. This represents a $1.84 annualized dividend and a yield of 2.12%. Medtronic’s payout ratio is currently 50.41%.
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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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