Castleark Management LLC boosted its position in shares of Medtronic plc. (NYSE:MDT) by 12.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 583,746 shares of the medical technology company’s stock after buying an additional 64,076 shares during the period. Medtronic plc. accounts for about 1.3% of Castleark Management LLC’s investment portfolio, making the stock its 11th largest position. Castleark Management LLC’s holdings in Medtronic plc. were worth $41,580,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in MDT. Sunbelt Securities Inc. bought a new stake in shares of Medtronic plc. during the fourth quarter valued at approximately $105,000. Norway Savings Bank bought a new stake in shares of Medtronic plc. during the fourth quarter valued at approximately $115,000. Motco raised its stake in shares of Medtronic plc. by 70.9% in the third quarter. Motco now owns 1,350 shares of the medical technology company’s stock valued at $117,000 after buying an additional 560 shares in the last quarter. TLP Group LLC bought a new stake in shares of Medtronic plc. during the third quarter valued at approximately $124,000. Finally, Birch Hill Investment Advisors LLC bought a new stake in shares of Medtronic plc. during the third quarter valued at approximately $128,000. Institutional investors and hedge funds own 82.71% of the company’s stock.
Shares of Medtronic plc. (NYSE:MDT) opened at 81.03 on Tuesday. Medtronic plc. has a one year low of $69.35 and a one year high of $89.27. The stock has a market cap of $110.92 billion, a P/E ratio of 28.60 and a beta of 0.97. The stock has a 50 day moving average of $80.22 and a 200 day moving average of $79.18.
Medtronic plc. (NYSE:MDT) last announced its earnings results on Tuesday, February 21st. The medical technology company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.01. The business earned $7.28 billion during the quarter, compared to the consensus estimate of $7.22 billion. Medtronic plc. had a net margin of 14.63% and a return on equity of 12.36%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.06 earnings per share. Equities analysts expect that Medtronic plc. will post $4.58 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 13th. Stockholders of record on Friday, March 24th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Wednesday, March 22nd. This represents a $1.72 annualized dividend and a dividend yield of 2.12%. Medtronic plc.’s dividend payout ratio (DPR) is presently 57.14%.
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Several equities research analysts recently commented on MDT shares. Evercore ISI reiterated a “buy” rating and set a $80.00 price target (down from $94.00) on shares of Medtronic plc. in a research note on Monday, November 28th. Needham & Company LLC reiterated a “buy” rating and set a $84.00 price target on shares of Medtronic plc. in a research note on Monday, February 6th. Vetr lowered shares of Medtronic plc. from a “strong-buy” rating to a “buy” rating and set a $81.00 price target on the stock. in a research note on Monday, January 23rd. Deutsche Bank AG set a $96.00 price target on shares of Medtronic plc. and gave the stock a “buy” rating in a research note on Sunday, January 8th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $88.00 price target on shares of Medtronic plc. in a research note on Friday, February 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Medtronic plc. currently has an average rating of “Buy” and a consensus price target of $87.57.
In related news, EVP Hooman Hakami sold 52,316 shares of the company’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $82.33, for a total value of $4,307,176.28. Following the sale, the executive vice president now directly owns 73,800 shares of the company’s stock, valued at $6,075,954. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Omar Ishrak sold 95,000 shares of the company’s stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $82.82, for a total transaction of $7,867,900.00. Following the completion of the sale, the chief executive officer now directly owns 645,616 shares in the company, valued at $53,469,917.12. The disclosure for this sale can be found here. Insiders sold 198,073 shares of company stock worth $16,315,832 over the last ninety days. 0.25% of the stock is currently owned by corporate insiders.
Medtronic plc. Company Profile
Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.
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