Cutter & CO Brokerage Inc. lifted its stake in shares of Medtronic plc (NYSE:MDT – Get Rating) by 14.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,750 shares of the medical technology company’s stock after buying an additional 5,151 shares during the quarter. Medtronic makes up about 1.1% of Cutter & CO Brokerage Inc.’s investment portfolio, making the stock its 19th largest holding. Cutter & CO Brokerage Inc.’s holdings in Medtronic were worth $4,112,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently made changes to their positions in MDT. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Medtronic by 1.7% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,453 shares of the medical technology company’s stock worth $684,000 after acquiring an additional 90 shares in the last quarter. CX Institutional lifted its position in shares of Medtronic by 3.8% in the third quarter. CX Institutional now owns 2,521 shares of the medical technology company’s stock valued at $316,000 after buying an additional 93 shares during the last quarter. Patten Group Inc. lifted its holdings in Medtronic by 0.4% during the 3rd quarter. Patten Group Inc. now owns 23,400 shares of the medical technology company’s stock worth $2,933,000 after purchasing an additional 93 shares during the last quarter. Pitcairn Co. lifted its holdings in Medtronic by 0.6% during the 3rd quarter. Pitcairn Co. now owns 14,940 shares of the medical technology company’s stock worth $1,872,000 after purchasing an additional 95 shares during the last quarter. Finally, Biltmore Wealth Management LLC increased its stake in Medtronic by 1.6% during the 3rd quarter. Biltmore Wealth Management LLC now owns 6,101 shares of the medical technology company’s stock worth $765,000 after acquiring an additional 98 shares during the period. Hedge funds and other institutional investors own 80.23% of the company’s stock.
A number of equities analysts have issued reports on MDT shares. Truist Financial cut Medtronic from a “buy” rating to a “hold” rating and lowered their target price for the stock from $124.00 to $121.00 in a report on Wednesday, April 13th. Citigroup dropped their price target on Medtronic from $130.00 to $129.00 and set a “buy” rating on the stock in a research note on Wednesday, January 19th. Raymond James dropped their price target on Medtronic from $127.00 to $116.00 and set an “outperform” rating on the stock in a research note on Friday, February 18th. SVB Leerink reissued a “market perform” rating on shares of Medtronic in a research note on Wednesday, April 13th. Finally, The Goldman Sachs Group lowered their price objective on Medtronic from $129.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, January 18th. Eleven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Medtronic currently has an average rating of “Buy” and an average target price of $128.19.
Medtronic (NYSE:MDT – Get Rating) last posted its quarterly earnings data on Tuesday, February 22nd. The medical technology company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.01. The company had revenue of $7.76 billion during the quarter, compared to analyst estimates of $7.91 billion. Medtronic had a return on equity of 14.57% and a net margin of 15.46%. The firm’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter last year, the company earned $1.29 earnings per share. On average, analysts expect that Medtronic plc will post 5.66 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, April 22nd. Shareholders of record on Friday, March 25th were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Thursday, March 24th. This represents a $2.52 dividend on an annualized basis and a yield of 2.49%. Medtronic’s payout ratio is 69.42%.
In other Medtronic news, CFO Karen L. Parkhill sold 682 shares of the firm’s stock in a transaction dated Friday, March 18th. The stock was sold at an average price of $110.00, for a total transaction of $75,020.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Carol A. Surface sold 6,000 shares of the firm’s stock in a transaction dated Friday, March 11th. The shares were sold at an average price of $105.30, for a total value of $631,800.00. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.
About Medtronic (Get Rating)
Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiovascular Portfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit. The Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; AF ablation products; insertable cardiac monitor systems; mechanical circulatory support; TYRX products; and remote monitoring and patient-centered software.
- Get a free copy of the StockNews.com research report on Medtronic (MDT)
- Carvana Insiders Buy Shares But Maybe You Shouldn’t
- Dutch Bros Gets Scalded By Inflation
- The S&P 500 Could Fall Another 28%
- Corning Stock is a Technology Value Play
- Anheuser-Busch InBev May Need One More Quarter to Confirm a Buy Signal
Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.