Krueger & Catalano Capital Partners LLC raised its stake in Medtronic PLC (NYSE:MDT) by 5.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,466 shares of the medical technology company’s stock after acquiring an additional 1,212 shares during the period. Medtronic makes up 1.7% of Krueger & Catalano Capital Partners LLC’s portfolio, making the stock its 15th largest holding. Krueger & Catalano Capital Partners LLC’s holdings in Medtronic were worth $2,285,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Cordasco Financial Network bought a new stake in shares of Medtronic in the 1st quarter worth about $27,000. Pin Oak Investment Advisors Inc. increased its holdings in shares of Medtronic by 158.0% in the 4th quarter. Pin Oak Investment Advisors Inc. now owns 369 shares of the medical technology company’s stock worth $34,000 after buying an additional 226 shares during the last quarter. Spectrum Management Group Inc. increased its holdings in shares of Medtronic by 353.8% in the 1st quarter. Spectrum Management Group Inc. now owns 413 shares of the medical technology company’s stock worth $38,000 after buying an additional 322 shares during the last quarter. Mackey Komara & Dankovich LLC bought a new stake in shares of Medtronic in the 1st quarter worth about $38,000. Finally, Motco increased its holdings in shares of Medtronic by 159.3% in the 1st quarter. Motco now owns 516 shares of the medical technology company’s stock worth $47,000 after buying an additional 317 shares during the last quarter. Institutional investors own 80.00% of the company’s stock.
A number of analysts have recently weighed in on the stock. ValuEngine downgraded shares of Medtronic from a “buy” rating to a “hold” rating in a report on Thursday. Royal Bank of Canada dropped their price target on shares of Medtronic to $100.00 and set an “outperform” rating for the company in a research note on Tuesday, May 28th. Barclays lifted their price target on shares of Medtronic from $104.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Oppenheimer set a $110.00 price objective on shares of Medtronic and gave the company a “buy” rating in a research report on Monday, July 15th. Finally, Zacks Investment Research raised shares of Medtronic from a “sell” rating to a “hold” rating in a research report on Monday, May 20th. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $106.05.
Medtronic (NYSE:MDT) last issued its earnings results on Thursday, May 23rd. The medical technology company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.47 by $0.07. Medtronic had a net margin of 15.15% and a return on equity of 14.16%. The company had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.12 billion. During the same period in the previous year, the firm earned $1.42 EPS. The business’s revenue was up .0% on a year-over-year basis. As a group, equities research analysts forecast that Medtronic PLC will post 5.47 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Monday, July 8th were given a $0.54 dividend. The ex-dividend date of this dividend was Friday, July 5th. This is a positive change from Medtronic’s previous quarterly dividend of $0.50. This represents a $2.16 annualized dividend and a dividend yield of 2.11%. Medtronic’s payout ratio is currently 41.38%.
In other news, Director Richard H. Anderson bought 10,900 shares of Medtronic stock in a transaction on Friday, May 24th. The shares were bought at an average cost of $92.40 per share, for a total transaction of $1,007,160.00. Following the acquisition, the director now owns 89,912 shares in the company, valued at $8,307,868.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Hooman Hakami sold 52,664 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $97.49, for a total transaction of $5,134,213.36. Following the completion of the transaction, the executive vice president now owns 95,337 shares in the company, valued at $9,294,404.13. The disclosure for this sale can be found here. Insiders sold a total of 85,102 shares of company stock worth $8,244,274 over the last quarter. Insiders own 0.28% of the company’s stock.
Medtronic Company Profile
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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