ST Germain D J Co. Inc. trimmed its stake in Medtronic PLC (NYSE:MDT) by 7.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 116,156 shares of the medical technology company’s stock after selling 9,023 shares during the period. ST Germain D J Co. Inc.’s holdings in Medtronic were worth $9,944,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Affiance Financial LLC increased its stake in shares of Medtronic by 18.6% in the 2nd quarter. Affiance Financial LLC now owns 8,080 shares of the medical technology company’s stock worth $692,000 after acquiring an additional 1,268 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in shares of Medtronic by 85.1% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 35,946 shares of the medical technology company’s stock worth $3,077,000 after acquiring an additional 16,530 shares in the last quarter. Pure Financial Advisors Inc. bought a new position in shares of Medtronic in the 2nd quarter worth about $308,000. Hengehold Capital Management LLC bought a new stake in Medtronic during the 2nd quarter valued at about $2,149,000. Finally, Butensky & Cohen Financial Security Inc. increased its stake in Medtronic by 3.4% during the 2nd quarter. Butensky & Cohen Financial Security Inc. now owns 21,249 shares of the medical technology company’s stock valued at $1,819,000 after purchasing an additional 705 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.
Shares of MDT stock traded down $0.71 during trading hours on Wednesday, reaching $90.34. The company had a trading volume of 22,609 shares, compared to its average volume of 4,947,313. Medtronic PLC has a one year low of $76.41 and a one year high of $91.50. The firm has a market capitalization of $122.46 billion, a PE ratio of 19.01, a P/E/G ratio of 2.46 and a beta of 0.94. The company has a quick ratio of 1.92, a current ratio of 2.28 and a debt-to-equity ratio of 0.47.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 25th. Stockholders of record on Friday, July 6th were paid a $0.50 dividend. The ex-dividend date was Thursday, July 5th. This is a positive change from Medtronic’s previous quarterly dividend of $0.46. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.21%. Medtronic’s payout ratio is currently 41.93%.
A number of analysts have weighed in on MDT shares. Needham & Company LLC upgraded shares of Medtronic from a “buy” rating to a “strong-buy” rating and raised their price objective for the company from $103.00 to $119.00 in a research note on Monday. William Blair started coverage on shares of Medtronic in a research note on Wednesday, June 6th. They set a “market perform” rating for the company. Raymond James started coverage on shares of Medtronic in a research note on Thursday, May 31st. They set an “outperform” rating and a $96.00 price objective for the company. Morgan Stanley raised their price objective on shares of Medtronic from $90.00 to $95.00 and gave the company an “equal weight” rating in a research note on Friday, May 25th. Finally, Piper Jaffray Companies raised their price objective on shares of Medtronic to $96.00 and gave the company an “overweight” rating in a research note on Friday, May 25th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $93.24.
In other news, SVP Bradley E. Lerman sold 8,910 shares of Medtronic stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $86.82, for a total value of $773,566.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Richard Kuntz sold 11,500 shares of Medtronic stock in a transaction that occurred on Friday, June 8th. The stock was sold at an average price of $87.13, for a total transaction of $1,001,995.00. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.
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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