Watch Point Trust Co boosted its holdings in shares of Medtronic PLC (NYSE:MDT) by 4.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 32,638 shares of the medical technology company’s stock after purchasing an additional 1,257 shares during the quarter. Medtronic comprises 1.9% of Watch Point Trust Co’s portfolio, making the stock its 28th biggest position. Watch Point Trust Co’s holdings in Medtronic were worth $3,545,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Krane Funds Advisors LLC purchased a new position in shares of Medtronic during the 2nd quarter valued at approximately $25,000. Private Ocean LLC increased its holdings in shares of Medtronic by 188.5% during the 3rd quarter. Private Ocean LLC now owns 225 shares of the medical technology company’s stock valued at $25,000 after purchasing an additional 147 shares in the last quarter. River & Mercantile Asset Management LLP acquired a new stake in Medtronic in the 2nd quarter valued at $26,000. Lenox Wealth Advisors LLC grew its stake in Medtronic by 393.3% in the 3rd quarter. Lenox Wealth Advisors LLC now owns 296 shares of the medical technology company’s stock valued at $32,000 after acquiring an additional 236 shares during the period. Finally, Redhawk Wealth Advisors Inc. acquired a new stake in Medtronic in the 2nd quarter valued at $34,000. 81.18% of the stock is owned by institutional investors.

In other Medtronic news, SVP Richard Kuntz sold 21,425 shares of Medtronic stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $107.51, for a total value of $2,303,401.75. Following the sale, the senior vice president now owns 78,916 shares of the company’s stock, valued at approximately $8,484,259.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Hooman Hakami sold 82,877 shares of Medtronic stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $107.31, for a total value of $8,893,530.87. Following the completion of the sale, the executive vice president now directly owns 30,761 shares in the company, valued at approximately $3,300,962.91. The disclosure for this sale can be found here. Insiders have sold a total of 156,467 shares of company stock worth $16,900,132 in the last ninety days. 0.28% of the stock is currently owned by company insiders.

A number of research firms recently commented on MDT. Cowen restated an “outperform” rating and set a $111.00 price target (up from $99.00) on shares of Medtronic in a research report on Wednesday, August 14th. BTIG Research increased their price target on Medtronic to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Barclays increased their price target on Medtronic from $110.00 to $117.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Deutsche Bank increased their price target on Medtronic from $100.00 to $111.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Finally, BMO Capital Markets increased their price target on Medtronic from $107.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Medtronic currently has a consensus rating of “Buy” and an average price target of $114.33.

Shares of MDT stock traded up $0.23 during trading hours on Friday, reaching $107.03. The company had a trading volume of 2,260,267 shares, compared to its average volume of 5,086,191. The company has a 50 day moving average of $107.65 and a 200 day moving average of $100.69. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.67 and a quick ratio of 2.20. The firm has a market cap of $141.59 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 2.59 and a beta of 0.62. Medtronic PLC has a 1-year low of $81.66 and a 1-year high of $112.05.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.08. The company had revenue of $7.49 billion for the quarter, compared to the consensus estimate of $7.40 billion. Medtronic had a return on equity of 14.36% and a net margin of 14.41%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.17 EPS. As a group, sell-side analysts forecast that Medtronic PLC will post 5.56 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, September 27th were paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 2.02%. The ex-dividend date was Thursday, September 26th. Medtronic’s payout ratio is presently 41.38%.

Medtronic Company Profile

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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