Transcend Wealth Collective LLC purchased a new stake in Medtronic PLC (NYSE:MDT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 18,477 shares of the medical technology company’s stock, valued at approximately $2,096,000.
Several other hedge funds and other institutional investors have also bought and sold shares of MDT. Manchester Financial Inc. purchased a new position in Medtronic in the 4th quarter worth approximately $28,000. Barnett & Company Inc. purchased a new stake in shares of Medtronic in the 4th quarter valued at $34,000. Stonebridge Financial Planning Group LLC bought a new stake in Medtronic during the 4th quarter valued at $34,000. CLS Investments LLC raised its holdings in Medtronic by 44.2% during the 4th quarter. CLS Investments LLC now owns 346 shares of the medical technology company’s stock valued at $39,000 after buying an additional 106 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in Medtronic by 71.8% during the 4th quarter. Versant Capital Management Inc now owns 354 shares of the medical technology company’s stock valued at $40,000 after buying an additional 148 shares during the last quarter. 82.55% of the stock is currently owned by institutional investors.
Shares of NYSE MDT traded up $5.12 during trading on Thursday, reaching $91.94. 12,537,661 shares of the company traded hands, compared to its average volume of 9,524,935. The firm has a 50 day simple moving average of $101.40 and a 200-day simple moving average of $109.07. The company has a quick ratio of 2.28, a current ratio of 2.75 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $107.68 billion, a PE ratio of 23.34, a P/E/G ratio of 2.01 and a beta of 0.67. Medtronic PLC has a 52-week low of $72.13 and a 52-week high of $122.15.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 17th. Investors of record on Friday, March 27th will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Thursday, March 26th. Medtronic’s payout ratio is 41.38%.
Several research analysts have commented on the stock. BTIG Research decreased their price objective on shares of Medtronic from $126.00 to $124.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. ValuEngine downgraded shares of Medtronic from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. Citigroup initiated coverage on shares of Medtronic in a research report on Wednesday, March 4th. They set a “buy” rating and a $124.00 price objective on the stock. Deutsche Bank initiated coverage on shares of Medtronic in a research report on Friday, January 3rd. They set a “buy” rating and a $99.00 price objective on the stock. Finally, Raymond James increased their price objective on shares of Medtronic from $121.00 to $122.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twenty-two have given a buy rating to the company. Medtronic has an average rating of “Buy” and an average target price of $120.77.
In other Medtronic news, CEO Omar Ishrak acquired 8,771 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were bought at an average price of $110.87 per share, with a total value of $972,440.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.28% 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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