Canton Hathaway LLC bought a new position in shares of Medtronic PLC (NYSE:MDT) during the third quarter, HoldingsChannel reports. The firm bought 5,730 shares of the medical technology company’s stock, valued at approximately $564,000. Medtronic accounts for approximately 0.4% of Canton Hathaway LLC’s holdings, making the stock its 28th largest holding.

Several other hedge funds also recently made changes to their positions in the company. Berkshire Asset Management LLC PA raised its stake in shares of Medtronic by 0.7% during the third quarter. Berkshire Asset Management LLC PA now owns 83,618 shares of the medical technology company’s stock worth $8,226,000 after buying an additional 597 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV raised its stake in shares of Medtronic by 0.5% during the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 149,602 shares of the medical technology company’s stock worth $14,716,000 after buying an additional 672 shares during the last quarter. Busey Trust CO raised its stake in shares of Medtronic by 0.9% during the third quarter. Busey Trust CO now owns 131,931 shares of the medical technology company’s stock worth $12,978,000 after buying an additional 1,142 shares during the last quarter. Douglass Winthrop Advisors LLC raised its stake in shares of Medtronic by 21.0% during the third quarter. Douglass Winthrop Advisors LLC now owns 5,766 shares of the medical technology company’s stock worth $567,000 after buying an additional 1,000 shares during the last quarter. Finally, Stokes Capital Advisors LLC raised its stake in shares of Medtronic by 4.4% during the third quarter. Stokes Capital Advisors LLC now owns 21,871 shares of the medical technology company’s stock worth $2,151,000 after buying an additional 920 shares during the last quarter. Institutional investors own 79.90% of the company’s stock.

In other news, Director Richard H. Anderson bought 2,600 shares of the stock in a transaction on Thursday, August 23rd. The stock was purchased at an average price of $95.88 per share, with a total value of $249,288.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael J. Coyle sold 145,544 shares of the company’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $95.50, for a total transaction of $13,899,452.00. Following the completion of the sale, the executive vice president now directly owns 190,680 shares of the company’s stock, valued at approximately $18,209,940. The disclosure for this sale can be found here. Insiders sold 268,678 shares of company stock valued at $25,818,353 in the last ninety days. Insiders own 0.28% of the company’s stock.

Shares of NYSE:MDT opened at $94.69 on Friday. Medtronic PLC has a 52 week low of $76.41 and a 52 week high of $100.15. The company has a quick ratio of 2.06, a current ratio of 2.46 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $132.85 billion, a price-to-earnings ratio of 19.85, a PEG ratio of 2.61 and a beta of 0.92.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, August 21st. The medical technology company reported $1.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.06. Medtronic had a net margin of 10.56% and a return on equity of 12.98%. The firm had revenue of $7.38 billion during the quarter, compared to the consensus estimate of $7.24 billion. During the same quarter in the prior year, the firm earned $1.12 earnings per share. The business’s quarterly revenue was down .1% on a year-over-year basis. On average, research analysts anticipate that Medtronic PLC will post 5.12 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 19th. Shareholders of record on Friday, September 28th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.11%. The ex-dividend date is Thursday, September 27th. Medtronic’s payout ratio is presently 41.93%.

A number of equities research analysts recently weighed in on MDT shares. ValuEngine raised shares of Medtronic from a “hold” rating to a “buy” rating in a research note on Friday, September 7th. Zacks Investment Research downgraded shares of Medtronic from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Citigroup boosted their price target on shares of Medtronic from $104.00 to $109.00 and gave the stock a “buy” rating in a research note on Friday, August 24th. Sanford C. Bernstein started coverage on shares of Medtronic in a research note on Wednesday, June 27th. They set a “market perform” rating and a $88.00 price target for the company. Finally, SunTrust Banks boosted their price target on shares of Medtronic to $110.00 and gave the stock a “buy” rating in a research note on Friday, August 24th. Eight analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Medtronic presently has a consensus rating of “Buy” and an average price target of $101.50.

About Medtronic

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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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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