Sentry Investment Management LLC Lowers Stake in Medtronic plc. (MDT)
Sentry Investment Management LLC reduced its stake in shares of Medtronic plc. (NYSE:MDT) by 2.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 107,136 shares of the medical technology company’s stock after selling 3,231 shares during the period. Sentry Investment Management LLC’s holdings in Medtronic were worth $8,651,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Captrust Financial Advisors acquired a new stake in shares of Medtronic during the second quarter worth $384,000. Wesbanco Bank Inc. lifted its stake in shares of Medtronic by 3.1% during the second quarter. Wesbanco Bank Inc. now owns 10,170 shares of the medical technology company’s stock worth $903,000 after buying an additional 308 shares during the period. Chilton Investment Co. LLC lifted its stake in shares of Medtronic by 6.1% during the second quarter. Chilton Investment Co. LLC now owns 26,842 shares of the medical technology company’s stock worth $2,382,000 after buying an additional 1,538 shares during the period. Moors & Cabot Inc. lifted its stake in shares of Medtronic by 0.4% during the second quarter. Moors & Cabot Inc. now owns 43,227 shares of the medical technology company’s stock worth $3,842,000 after buying an additional 178 shares during the period. Finally, Sawtooth Solutions LLC acquired a new stake in shares of Medtronic during the second quarter worth $208,000. Institutional investors and hedge funds own 81.91% of the company’s stock.
Several equities research analysts have recently commented on MDT shares. SunTrust Banks reiterated a “buy” rating and set a $96.00 price objective on shares of Medtronic in a research note on Friday, November 3rd. Bank of America upgraded shares of Medtronic from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 2nd. Argus upgraded shares of Medtronic from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $81.27 to $95.00 in a research note on Tuesday, December 12th. They noted that the move was a valuation call. Oppenheimer reiterated a “buy” rating on shares of Medtronic in a research note on Thursday, December 21st. Finally, Needham & Company LLC restated a “buy” rating and set a $94.00 target price on shares of Medtronic in a research report on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the stock. Medtronic has a consensus rating of “Buy” and a consensus target price of $90.45.
Medtronic plc. (MDT) opened at $81.86 on Thursday. The firm has a market cap of $108,577.60, a PE ratio of 22.43, a price-to-earnings-growth ratio of 2.21 and a beta of 0.93. Medtronic plc. has a 1 year low of $76.51 and a 1 year high of $89.72. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.40 and a quick ratio of 2.05.
Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. The business had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $7.05 billion. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The company’s revenue was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.12 earnings per share. sell-side analysts expect that Medtronic plc. will post 4.76 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 19th. Shareholders of record on Friday, December 29th were given a $0.46 dividend. The ex-dividend date was Thursday, December 28th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.25%. Medtronic’s dividend payout ratio (DPR) is currently 50.41%.
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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