Flagship Harbor Advisors LLC lifted its position in shares of Medtronic PLC (NYSE:MDT) by 2.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,090 shares of the medical technology company’s stock after buying an additional 112 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Medtronic were worth $552,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in MDT. Searle & CO. grew its holdings in shares of Medtronic by 27.8% during the 3rd quarter. Searle & CO. now owns 3,219 shares of the medical technology company’s stock worth $350,000 after purchasing an additional 700 shares during the period. Squar Milner Financial Services LLC grew its position in Medtronic by 54.0% during the third quarter. Squar Milner Financial Services LLC now owns 6,377 shares of the medical technology company’s stock worth $692,000 after buying an additional 2,235 shares in the last quarter. Convergence Investment Partners LLC grew its position in Medtronic by 583.4% during the third quarter. Convergence Investment Partners LLC now owns 23,528 shares of the medical technology company’s stock worth $2,556,000 after buying an additional 20,085 shares in the last quarter. Howland Capital Management LLC grew its position in Medtronic by 2.4% during the third quarter. Howland Capital Management LLC now owns 222,661 shares of the medical technology company’s stock worth $24,185,000 after buying an additional 5,125 shares in the last quarter. Finally, 180 Wealth Advisors LLC boosted its holdings in shares of Medtronic by 35.5% in the 3rd quarter. 180 Wealth Advisors LLC now owns 13,062 shares of the medical technology company’s stock valued at $1,405,000 after purchasing an additional 3,419 shares in the last quarter. 81.14% of the stock is owned by hedge funds and other institutional investors.
Shares of MDT stock traded up $0.74 during trading hours on Thursday, hitting $105.96. The company’s stock had a trading volume of 539,265 shares, compared to its average volume of 3,720,087. The company has a 50 day moving average of $108.24 and a 200 day moving average of $99.10. The stock has a market cap of $140.19 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 2.57 and a beta of 0.64. The company has a current ratio of 2.67, a quick ratio of 2.20 and a debt-to-equity ratio of 0.49. Medtronic PLC has a 12-month low of $81.66 and a 12-month high of $112.05.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, September 27th were given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend was Thursday, September 26th. Medtronic’s dividend payout ratio (DPR) is 41.38%.
In other news, SVP Richard Kuntz sold 21,425 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $107.51, for a total value of $2,303,401.75. Following the completion of the sale, the senior vice president now directly owns 78,916 shares in the company, valued at $8,484,259.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Bradley E. Lerman sold 6,599 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $102.02, for a total transaction of $673,229.98. Following the completion of the sale, the senior vice president now owns 105,960 shares of the company’s stock, valued at $10,810,039.20. The disclosure for this sale can be found here. Insiders sold 114,901 shares of company stock valued at $12,271,403 over the last quarter. Company insiders own 0.28% of the company’s stock.
A number of brokerages have weighed in on MDT. Deutsche Bank raised their target price on Medtronic from $100.00 to $111.00 and gave the company a “buy” rating in a report on Monday, August 19th. ValuEngine cut Medtronic from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Cowen reiterated an “outperform” rating and issued a $111.00 price target (up from $99.00) on shares of Medtronic in a research note on Wednesday, August 14th. BTIG Research increased their price target on Medtronic to $120.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $133.00 price target on shares of Medtronic in a research note on Wednesday, August 28th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Medtronic currently has a consensus rating of “Buy” and a consensus price target of $114.33.
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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