Persium Advisors LLC purchased a new position in Medtronic plc (NYSE:MDT – Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,266 shares of the medical technology company’s stock, valued at approximately $580,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MDT. Fortitude Family Office LLC purchased a new stake in shares of Medtronic in the third quarter worth $27,000. Darwin Wealth Management LLC bought a new stake in shares of Medtronic during the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC purchased a new position in shares of Medtronic during the third quarter worth about $27,000. J. Stern & Co. LLP bought a new position in shares of Medtronic in the third quarter worth approximately $30,000. Finally, Chelsea Counsel Co. purchased a new position in Medtronic in the 3rd quarter worth approximately $45,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other news, EVP Brett A. Wall sold 9,850 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the transaction, the executive vice president now owns 40,708 shares of the company’s stock, valued at approximately $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.
Analyst Ratings Changes
Get Our Latest Analysis on Medtronic
Medtronic Stock Performance
NYSE:MDT traded up $1.02 during trading hours on Monday, reaching $81.68. The company had a trading volume of 4,584,132 shares, compared to its average volume of 6,891,083. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The firm has a market cap of $104.74 billion, a PE ratio of 24.98, a price-to-earnings-growth ratio of 2.33 and a beta of 0.83. The business’s 50 day moving average price is $83.99 and its 200-day moving average price is $84.95. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $92.68.
Medtronic (NYSE:MDT – Get Free Report) last posted its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.01. The business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the firm posted $1.25 earnings per share. Research analysts forecast that Medtronic plc will post 5.45 EPS for the current year.
Medtronic Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.43%. Medtronic’s payout ratio is 85.63%.
About Medtronic
Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.
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