Wisconsin Capital Management LLC acquired a new position in shares of Medtronic PLC (NYSE:MDT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 16,750 shares of the medical technology company’s stock, valued at approximately $1,524,000.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Banco Santander S.A. boosted its holdings in Medtronic by 0.6% during the fourth quarter. Banco Santander S.A. now owns 35,971 shares of the medical technology company’s stock worth $3,272,000 after buying an additional 209 shares in the last quarter. Employees Retirement System of Texas raised its position in Medtronic by 10.4% during the fourth quarter. Employees Retirement System of Texas now owns 442,000 shares of the medical technology company’s stock worth $40,204,000 after acquiring an additional 41,550 shares during the last quarter. Polen Capital Management LLC raised its position in Medtronic by 19.6% during the fourth quarter. Polen Capital Management LLC now owns 83,735 shares of the medical technology company’s stock worth $7,617,000 after acquiring an additional 13,730 shares during the last quarter. Northern Trust Corp raised its position in Medtronic by 4.3% during the fourth quarter. Northern Trust Corp now owns 16,526,215 shares of the medical technology company’s stock worth $1,503,225,000 after acquiring an additional 688,537 shares during the last quarter. Finally, Burney Co. raised its position in Medtronic by 4.7% during the fourth quarter. Burney Co. now owns 10,212 shares of the medical technology company’s stock worth $929,000 after acquiring an additional 462 shares during the last quarter. 80.59% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO Omar Ishrak bought 12,000 shares of the stock in a transaction that occurred on Wednesday, January 9th. The stock was purchased at an average cost of $84.05 per share, for a total transaction of $1,008,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Karen L. Parkhill bought 3,000 shares of the stock in a transaction that occurred on Wednesday, January 9th. The stock was bought at an average price of $83.87 per share, with a total value of $251,610.00. The disclosure for this purchase can be found here. Insiders own 0.28% of the company’s stock.
MDT has been the subject of a number of research reports. Citigroup cut shares of Medtronic from a “buy” rating to a “neutral” rating and cut their target price for the stock from $109.00 to $96.00 in a research report on Wednesday, January 2nd. ValuEngine cut shares of Medtronic from a “buy” rating to a “hold” rating in a research report on Monday, January 7th. JPMorgan Chase & Co. upgraded shares of Medtronic from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $100.00 to $109.00 in a research report on Wednesday, December 19th. Morgan Stanley lifted their target price on shares of Medtronic from $98.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 2nd. Finally, Deutsche Bank initiated coverage on shares of Medtronic in a research report on Wednesday, January 2nd. They set a “buy” rating and a $99.00 target price for the company. Nine equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Medtronic currently has an average rating of “Buy” and an average price target of $104.32.
NYSE:MDT opened at $93.79 on Friday. The company has a quick ratio of 1.92, a current ratio of 2.36 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $125.79 billion, a PE ratio of 19.66, a PEG ratio of 2.40 and a beta of 0.82. Medtronic PLC has a 1-year low of $76.41 and a 1-year high of $100.15.
Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 19th. The medical technology company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.05. The business had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.53 billion. Medtronic had a net margin of 16.10% and a return on equity of 13.85%. The company’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.17 earnings per share. Research analysts anticipate that Medtronic PLC will post 5.15 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Friday, March 22nd will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Thursday, March 21st. Medtronic’s dividend payout ratio is presently 41.93%.
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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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