Janus Capital Management LLC boosted its position in Medtronic plc. (NYSE:MDT) by 32.2% during the fourth quarter, Holdings Channel reports. The firm owned 6,999,619 shares of the medical technology company’s stock after buying an additional 1,706,247 shares during the period. Janus Capital Management LLC’s holdings in Medtronic plc. were worth $498,598,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in MDT. Proficio Capital Partners LLC increased its position in Medtronic plc. by 0.5% in the third quarter. Proficio Capital Partners LLC now owns 1,505 shares of the medical technology company’s stock worth $130,000 after buying an additional 8 shares during the period. Hudock Capital Group LLC increased its position in Medtronic plc. by 0.5% in the third quarter. Hudock Capital Group LLC now owns 2,161 shares of the medical technology company’s stock worth $186,000 after buying an additional 11 shares during the period. Jackson Grant Investment Advisers Inc. increased its position in Medtronic plc. by 0.3% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 3,836 shares of the medical technology company’s stock worth $331,000 after buying an additional 12 shares during the period. Parkside Financial Bank & Trust increased its position in Medtronic plc. by 1.4% in the third quarter. Parkside Financial Bank & Trust now owns 2,105 shares of the medical technology company’s stock worth $182,000 after buying an additional 30 shares during the period. Finally, Telemus Capital LLC increased its position in Medtronic plc. by 1.4% in the third quarter. Telemus Capital LLC now owns 2,502 shares of the medical technology company’s stock worth $216,000 after buying an additional 35 shares during the period. Institutional investors own 82.71% of the company’s stock.
Shares of Medtronic plc. (NYSE:MDT) opened at 82.23 on Monday. Medtronic plc. has a 52 week low of $69.35 and a 52 week high of $89.27. The firm’s 50-day moving average price is $79.29 and its 200-day moving average price is $79.49. The firm has a market cap of $112.56 billion, a price-to-earnings ratio of 29.03 and a beta of 0.97.
Medtronic plc. (NYSE:MDT) last issued its earnings results on Tuesday, February 21st. The medical technology company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. Medtronic plc. had a return on equity of 12.36% and a net margin of 14.63%. The firm had revenue of $7.28 billion for the quarter, compared to the consensus estimate of $7.22 billion. During the same quarter in the previous year, the company posted $1.06 earnings per share. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. Equities research 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. Shareholders of record on Friday, March 24th will be paid a $0.43 dividend. The ex-dividend date is Wednesday, March 22nd. This represents a $1.72 dividend on an annualized basis and a yield of 2.09%. Medtronic plc.’s dividend payout ratio (DPR) is currently 57.14%.
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A number of equities analysts have recently commented on the company. Deutsche Bank AG set a $96.00 price objective on Medtronic plc. and gave the stock a “buy” rating in a report on Sunday, January 8th. BTIG Research restated a “neutral” rating on shares of Medtronic plc. in a report on Monday. Zacks Investment Research upgraded Medtronic plc. from a “sell” rating to a “hold” rating in a report on Thursday, February 23rd. Vetr downgraded Medtronic plc. from a “strong-buy” rating to a “buy” rating and set a $91.28 price objective on the stock. in a report on Monday, November 21st. Finally, JPMorgan Chase & Co. downgraded Medtronic plc. from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $84.00 to $79.00 in a report on Tuesday, January 3rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $87.57.
In other Medtronic plc. news, EVP Hooman Hakami sold 52,316 shares of the business’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $82.33, for a total value of $4,307,176.28. Following the transaction, the executive vice president now owns 73,800 shares in the company, valued at $6,075,954. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Omar Ishrak sold 95,000 shares of the business’s stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $82.82, for a total value of $7,867,900.00. Following the completion of the transaction, the chief executive officer now owns 645,616 shares in the company, valued at approximately $53,469,917.12. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.
About Medtronic plc.
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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