Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Medtronic PLC (NYSE:MDT) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 406,672 shares of the medical technology company’s stock after purchasing an additional 2,841 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Medtronic were worth $36,990,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Beese Fulmer Investment Management Inc. raised its stake in Medtronic by 2.3% during the fourth quarter. Beese Fulmer Investment Management Inc. now owns 60,043 shares of the medical technology company’s stock worth $5,461,000 after purchasing an additional 1,365 shares during the period. Fisher Asset Management LLC raised its stake in Medtronic by 7.0% during the fourth quarter. Fisher Asset Management LLC now owns 250,236 shares of the medical technology company’s stock worth $22,762,000 after purchasing an additional 16,420 shares during the period. Ingalls & Snyder LLC raised its stake in shares of Medtronic by 3.9% in the 4th quarter. Ingalls & Snyder LLC now owns 58,008 shares of the medical technology company’s stock valued at $5,276,000 after acquiring an additional 2,155 shares during the period. Farmers & Merchants Investments Inc. raised its stake in shares of Medtronic by 1.5% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 174,190 shares of the medical technology company’s stock valued at $15,844,000 after acquiring an additional 2,588 shares during the period. Finally, Calamos Wealth Management LLC raised its stake in shares of Medtronic by 134.4% in the 4th quarter. Calamos Wealth Management LLC now owns 42,322 shares of the medical technology company’s stock valued at $3,850,000 after acquiring an additional 24,268 shares during the period. 81.62% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Omar Ishrak acquired 12,000 shares of the business’s stock in a transaction dated Wednesday, January 9th. The shares were acquired at an average cost of $84.05 per share, for a total transaction of $1,008,600.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Karen L. Parkhill acquired 3,000 shares of the business’s stock in a transaction dated Wednesday, January 9th. The shares were bought at an average price of $83.87 per share, for a total transaction of $251,610.00. The disclosure for this purchase can be found here. 0.28% of the stock is owned by company insiders.
Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 20th. The medical technology company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.15 by $0.07. Medtronic had a net margin of 7.44% and a return on equity of 13.51%. The firm had revenue of $7.48 billion during the quarter, compared to the consensus estimate of $7.35 billion. During the same quarter in the prior year, the firm earned $1.07 EPS. Medtronic’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities research analysts forecast that Medtronic PLC will post 5.13 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, January 18th. Shareholders of record on Friday, December 28th were paid a dividend of $0.50 per share. The ex-dividend date was Thursday, December 27th. This represents a $2.00 annualized dividend and a dividend yield of 2.21%. Medtronic’s dividend payout ratio is currently 41.93%.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Medtronic from a “buy” rating to a “hold” rating in a research note on Friday, November 16th. UBS Group assumed coverage on shares of Medtronic in a research note on Wednesday, November 28th. They issued a “buy” rating and a $112.00 price target on the stock. JPMorgan Chase & Co. raised shares of Medtronic from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $100.00 to $109.00 in a research note on Wednesday, December 19th. Raymond James dropped their price objective on shares of Medtronic from $105.00 to $104.00 and set an “outperform” rating for the company in a report on Wednesday, November 21st. Finally, Credit Suisse Group started coverage on shares of Medtronic in a report on Monday, December 17th. They issued an “outperform” rating and a $109.00 price objective for the company. Nine research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Medtronic has an average rating of “Buy” and a consensus price target of $104.09.
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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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