Global X Management Co. LLC Buys 2,571 Shares of Medtronic plc. (MDT)

Global X Management Co. LLC lifted its holdings in shares of Medtronic plc. (NYSE:MDT) by 13.2% during the 4th quarter, HoldingsChannel reports. The firm owned 22,047 shares of the medical technology company’s stock after purchasing an additional 2,571 shares during the quarter. Global X Management Co. LLC’s holdings in Medtronic were worth $1,780,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Captrust Financial Advisors bought a new stake in shares of Medtronic during the 2nd quarter valued at about $384,000. Wesbanco Bank Inc. boosted its position in shares of Medtronic by 3.1% during the 2nd quarter. Wesbanco Bank Inc. now owns 10,170 shares of the medical technology company’s stock valued at $903,000 after purchasing an additional 308 shares in the last quarter. Chilton Investment Co. LLC boosted its position in shares of Medtronic by 6.1% during the 2nd quarter. Chilton Investment Co. LLC now owns 26,842 shares of the medical technology company’s stock valued at $2,382,000 after purchasing an additional 1,538 shares in the last quarter. Moors & Cabot Inc. boosted its position in shares of Medtronic by 0.4% during the 2nd quarter. Moors & Cabot Inc. now owns 43,227 shares of the medical technology company’s stock valued at $3,842,000 after purchasing an additional 178 shares in the last quarter. Finally, Sawtooth Solutions LLC bought a new stake in shares of Medtronic during the 2nd quarter valued at about $208,000. Institutional investors own 81.91% of the company’s stock.

MDT has been the topic of several research analyst reports. Needham & Company LLC restated a “buy” rating and set a $94.00 target price on shares of Medtronic in a research report on Thursday, November 9th. SunTrust Banks set a $92.00 target price on Medtronic and gave the company a “buy” rating in a research report on Sunday, November 19th. Evercore ISI initiated coverage on Medtronic in a research report on Wednesday, January 3rd. They set an “outperform” rating and a $92.50 target price on the stock. Oppenheimer restated a “buy” rating on shares of Medtronic in a research report on Thursday, December 21st. Finally, BMO Capital Markets upped their target price on Medtronic to $94.00 and gave the company an “outperform” rating in a research report on Tuesday, December 12th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $90.45.

In other news, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $82.82, for a total value of $1,325,120.00. Following the completion of the sale, the executive vice president now directly owns 88,818 shares of the company’s stock, valued at $7,355,906.76. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Hooman Hakami sold 26,158 shares of the stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $85.00, for a total value of $2,223,430.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 120,684 shares of company stock valued at $10,318,276. Company insiders own 0.31% of the company’s stock.

Shares of Medtronic plc. (MDT) opened at $83.31 on Friday. The company has a market capitalization of $112,759.92, a P/E ratio of 22.82, a PEG ratio of 2.29 and a beta of 0.93. Medtronic plc. has a 52 week low of $76.51 and a 52 week high of $89.72. The company has a quick ratio of 2.05, a current ratio of 2.40 and a debt-to-equity ratio of 0.50.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.99 by $0.08. The firm had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $7.05 billion. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.12 earnings per share. equities research analysts predict that Medtronic plc. will post 4.76 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 19th. Stockholders of record on Friday, December 29th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Thursday, December 28th. Medtronic’s dividend payout ratio (DPR) is presently 50.41%.

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Medtronic 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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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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