Schwartz Investment Counsel Inc. Has $40,879,000 Position in Medtronic Inc. (MDT)
Schwartz Investment Counsel Inc. maintained its stake in Medtronic Inc. (NYSE:MDT) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 471,124 shares of the medical technology company’s stock at the end of the second quarter. Medtronic accounts for 3.0% of Schwartz Investment Counsel Inc.’s investment portfolio, making the stock its 3rd largest position. Schwartz Investment Counsel Inc.’s holdings in Medtronic were worth $40,879,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Emerald Acquisition Ltd. acquired a new stake in Medtronic during the second quarter valued at approximately $363,065,000. Manning & Napier Advisors LLC raised its stake in shares of Medtronic by 55.4% in the first quarter. Manning & Napier Advisors LLC now owns 7,795,990 shares of the medical technology company’s stock worth $584,698,000 after buying an additional 2,779,780 shares during the period. Standard Life Investments LTD raised its stake in shares of Medtronic by 4,597.8% in the second quarter. Standard Life Investments LTD now owns 2,419,371 shares of the medical technology company’s stock worth $209,954,000 after buying an additional 2,367,871 shares during the period. Wellington Management Group LLP raised its stake in shares of Medtronic by 3.0% in the first quarter. Wellington Management Group LLP now owns 73,895,527 shares of the medical technology company’s stock worth $5,542,166,000 after buying an additional 2,176,380 shares during the period. Finally, Bank of Montreal Can purchased a new stake in shares of Medtronic during the second quarter worth about $168,956,000. Institutional investors and hedge funds own 83.11% of the company’s stock.
Medtronic Inc. (NYSE:MDT) traded up 0.488% on Thursday, hitting $87.565. 375,296 shares of the stock traded hands. The firm has a market cap of $121.01 billion, a price-to-earnings ratio of 34.072 and a beta of 0.88. Medtronic Inc. has a 12-month low of $63.98 and a 12-month high of $89.27. The stock has a 50-day moving average of $86.72 and a 200-day moving average of $82.78.
Medtronic (NYSE:MDT) last posted its earnings results on Thursday, August 25th. The medical technology company reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.02. Medtronic had a return on equity of 12.06% and a net margin of 12.70%. The company earned $7.20 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter last year, the firm earned $1.02 earnings per share. The company’s revenue was down 1.0% on a year-over-year basis. Analysts forecast that Medtronic Inc. will post $4.66 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Stockholders of record on Thursday, September 29th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Tuesday, September 27th. Medtronic’s dividend payout ratio is currently 66.93%.
MDT has been the topic of a number of analyst reports. Oppenheimer Holdings Inc. restated a “buy” rating on shares of Medtronic in a research report on Thursday, May 26th. BMO Capital Markets restated a “buy” rating on shares of Medtronic in a research report on Tuesday, June 7th. SunTrust Banks Inc. raised their target price on shares of Medtronic from $93.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, June 13th. Evercore ISI restated a “buy” rating and set a $86.50 target price on shares of Medtronic in a research report on Monday, June 27th. Finally, Wells Fargo & Co. restated a “buy” rating on shares of Medtronic in a research report on Tuesday, June 7th. Six research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $90.12.
In related news, Director Kendall J. Powell sold 7,907 shares of the business’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $85.45, for a total value of $675,653.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Omar Ishrak sold 61,925 shares of the business’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $84.93, for a total value of $5,259,290.25. Following the completion of the transaction, the chief executive officer now directly owns 565,916 shares of the company’s stock, valued at approximately $48,063,245.88. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.
Medtronic plc (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.
Receive News & Ratings for Medtronic Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic Inc. and related companies with MarketBeat.com's FREE daily email newsletter.