Baldwin Brothers Inc. MA raised its holdings in Medtronic PLC (NYSE:MDT) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 122,106 shares of the medical technology company’s stock after buying an additional 2,550 shares during the quarter. Medtronic comprises 1.9% of Baldwin Brothers Inc. MA’s holdings, making the stock its 17th largest position. Baldwin Brothers Inc. MA’s holdings in Medtronic were worth $11,107,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. Tributary Capital Management LLC purchased a new position in shares of Medtronic in the fourth quarter worth about $27,000. Highwater Wealth Management LLC purchased a new position in shares of Medtronic in the fourth quarter worth about $39,000. IMS Capital Management purchased a new position in shares of Medtronic in the third quarter worth about $41,000. Contravisory Investment Management Inc. raised its stake in shares of Medtronic by 220.0% in the fourth quarter. Contravisory Investment Management Inc. now owns 480 shares of the medical technology company’s stock worth $44,000 after purchasing an additional 330 shares during the last quarter. Finally, Taylor Hoffman Wealth Management raised its stake in shares of Medtronic by 46.7% in the fourth quarter. Taylor Hoffman Wealth Management now owns 785 shares of the medical technology company’s stock worth $69,000 after purchasing an additional 250 shares during the last quarter. Institutional investors own 81.62% of the company’s stock.
Shares of MDT opened at $89.60 on Tuesday. The company has a current ratio of 2.56, a quick ratio of 2.11 and a debt-to-equity ratio of 0.48. Medtronic PLC has a 12 month low of $76.41 and a 12 month high of $100.15. The company has a market capitalization of $119.54 billion, a price-to-earnings ratio of 18.78, a price-to-earnings-growth ratio of 2.37 and a beta of 0.82.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 18th. Shareholders of record on Friday, December 28th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.23%. The ex-dividend date was Thursday, December 27th. Medtronic’s payout ratio is currently 41.93%.
In other Medtronic news, CFO Karen L. Parkhill acquired 3,000 shares of the company’s stock in a transaction on Wednesday, January 9th. The shares were bought at an average cost of $83.87 per share, with a total value of $251,610.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Omar Ishrak acquired 12,000 shares of the company’s stock in a transaction on Wednesday, January 9th. The stock was acquired at an average cost of $84.05 per share, for a total transaction of $1,008,600.00. The disclosure for this purchase can be found here. 0.28% of the stock is currently owned by company insiders.
Several research analysts have recently issued reports on MDT shares. ValuEngine cut Medtronic from a “buy” rating to a “hold” rating in a research note on Monday, January 7th. Barclays reduced their price objective on Medtronic from $113.00 to $104.00 and set an “overweight” rating for the company in a research note on Tuesday, January 8th. Deutsche Bank started coverage on Medtronic in a research note on Wednesday, January 2nd. They issued a “buy” rating and a $99.00 price objective for the company. Citigroup cut Medtronic from a “buy” rating to a “neutral” rating and reduced their price target for the company from $109.00 to $96.00 in a research report on Wednesday, January 2nd. Finally, UBS Group started coverage on Medtronic in a research report on Wednesday, November 28th. They set a “buy” rating and a $112.00 price target for the company. Nine analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $104.09.
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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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