Medtronic PLC (MDT) Position Reduced by CCM Investment Advisers LLC
CCM Investment Advisers LLC lowered its position in shares of Medtronic PLC (NYSE:MDT) by 2.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 113,844 shares of the medical technology company’s stock after selling 2,475 shares during the period. CCM Investment Advisers LLC’s holdings in Medtronic were worth $8,853,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of MDT. Advantus Capital Management Inc lifted its position in Medtronic by 0.4% during the first quarter. Advantus Capital Management Inc now owns 137,521 shares of the medical technology company’s stock valued at $11,079,000 after purchasing an additional 497 shares during the last quarter. Homrich & Berg lifted its position in Medtronic by 19.0% during the first quarter. Homrich & Berg now owns 4,991 shares of the medical technology company’s stock valued at $402,000 after purchasing an additional 798 shares during the last quarter. Westside Investment Management Inc. lifted its position in Medtronic by 114.5% during the first quarter. Westside Investment Management Inc. now owns 13,476 shares of the medical technology company’s stock valued at $1,081,000 after purchasing an additional 7,193 shares during the last quarter. Israel Discount Bank of New York bought a new stake in Medtronic during the first quarter valued at approximately $117,000. Finally, Sentry Investments Corp. lifted its position in Medtronic by 0.5% during the first quarter. Sentry Investments Corp. now owns 1,093,500 shares of the medical technology company’s stock valued at $88,092,000 after purchasing an additional 5,100 shares during the last quarter. 81.86% of the stock is owned by institutional investors.
In related news, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $79.02, for a total transaction of $1,264,320.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.31% of the company’s stock.
Shares of Medtronic PLC (NYSE MDT) traded down $0.09 on Friday, hitting $81.83. 5,000,700 shares of the stock were exchanged, compared to its average volume of 4,951,062. The company has a market cap of $110,878.55, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 2.26 and a beta of 1.00. The company has a current ratio of 2.40, a quick ratio of 2.05 and a debt-to-equity ratio of 0.50. Medtronic PLC has a 1 year low of $69.35 and a 1 year high of $89.72.
Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.08. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The company had revenue of $7.05 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same period in the prior year, the business posted $1.12 EPS. The firm’s revenue was down 4.0% compared to the same quarter last year. equities research analysts forecast that Medtronic PLC will post 4.77 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Friday, December 29th will be issued a dividend of $0.46 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.84 dividend on an annualized basis and a yield of 2.25%. Medtronic’s dividend payout ratio is currently 50.41%.
Several equities research analysts have issued reports on the stock. Argus upgraded shares of Medtronic from a “hold” rating to a “buy” rating and lifted their target price for the company from $81.27 to $95.00 in a research report on Tuesday. They noted that the move was a valuation call. BMO Capital Markets lifted their target price on shares of Medtronic to $94.00 and gave the company an “outperform” rating in a research report on Tuesday. Jefferies Group reiterated a “buy” rating and set a $99.00 target price on shares of Medtronic in a research report on Thursday, November 23rd. Zacks Investment Research upgraded shares of Medtronic from a “sell” rating to a “hold” rating in a research report on Thursday, November 23rd. Finally, Northland Securities reiterated a “hold” rating and set a $80.00 target price on shares of Medtronic in a research report on Wednesday, November 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $88.57.
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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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