Daiwa Securities Group Inc. Grows Holdings in Medtronic plc. (MDT)
Daiwa Securities Group Inc. raised its position in Medtronic plc. (NYSE:MDT) by 2.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 43,160 shares of the medical technology company’s stock after acquiring an additional 1,084 shares during the period. Daiwa Securities Group Inc.’s holdings in Medtronic were worth $3,485,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BDO Wealth Advisors LLC bought a new stake in Medtronic in the 2nd quarter valued at approximately $103,000. Motco lifted its stake in 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 acquiring an additional 99 shares in the last quarter. Blue Chip Partners Inc. bought a new stake in Medtronic in the 3rd quarter valued at approximately $118,000. Quadrant Capital Group LLC lifted its stake in 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 acquiring an additional 290 shares in the last quarter. Finally, Westwood Holdings Group Inc. bought a new stake in Medtronic in the 2nd quarter valued at approximately $151,000. Hedge funds and other institutional investors own 81.91% of the company’s stock.
Shares of Medtronic plc. (MDT) opened at $80.22 on Wednesday. Medtronic plc. has a 12 month low of $76.46 and a 12 month high of $89.72. The stock has a market capitalization of $108,604.67, a P/E ratio of 17.29, a PEG ratio of 2.21 and a beta of 0.93. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.05 and a current ratio of 2.40.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 19th. Investors of record on Friday, December 29th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend was Thursday, December 28th. Medtronic’s payout ratio is presently 50.41%.
MDT has been the topic of several research reports. Cowen restated a “buy” rating and issued a $95.00 target price on shares of Medtronic in a research note on Friday, November 3rd. SunTrust Banks restated a “buy” rating and issued a $96.00 target price on shares of Medtronic in a research note on Friday, November 3rd. Needham & Company LLC restated a “buy” rating and issued a $94.00 target price on shares of Medtronic in a research note on Thursday, November 9th. Stifel Nicolaus boosted their target price on Medtronic from $83.00 to $85.00 and gave the company a “hold” rating in a research note on Wednesday, November 22nd. Finally, Oppenheimer restated a “buy” rating and issued a $94.00 target price on shares of Medtronic in a research note on Wednesday, November 22nd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the stock. Medtronic currently has a consensus rating of “Buy” and a consensus target price of $90.10.
In related news, EVP Hooman Hakami sold 26,158 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $85.00, for a total transaction of $2,223,430.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Richard Kuntz sold 78,526 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $86.21, for a total value of $6,769,726.46. Following the transaction, the vice president now directly owns 149,761 shares in the company, valued at $12,910,895.81. The disclosure for this sale can be found here. Insiders have sold a total of 136,684 shares of company stock worth $11,582,596 over the last three months. 0.31% of the stock is owned by insiders.
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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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