Richard Kuntz Sells 78,526 Shares of Medtronic plc. (MDT) Stock
Medtronic plc. (NYSE:MDT) VP Richard Kuntz sold 78,526 shares of the business’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $86.21, for a total value of $6,769,726.46. Following the sale, the vice president now owns 149,761 shares of the company’s stock, valued at approximately $12,910,895.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Medtronic plc. (MDT) opened at $85.73 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.40 and a quick ratio of 2.05. The stock has a market capitalization of $115,710.00, a P/E ratio of 23.55, a price-to-earnings-growth ratio of 2.35 and a beta of 0.99. Medtronic plc. has a 52 week low of $73.59 and a 52 week high of $89.72.
Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.08. The firm had revenue of $7.05 billion for the quarter, compared to analyst estimates of $7.05 billion. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.12 earnings per share. equities research analysts forecast that Medtronic plc. will post 4.77 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.15%. Medtronic’s dividend payout ratio (DPR) is currently 50.55%.
MDT has been the subject of a number of recent research reports. Bank of America upgraded Medtronic from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. Royal Bank of Canada decreased their price objective on Medtronic from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Monday, October 9th. SunTrust Banks set a $92.00 target price on Medtronic and gave the company a “buy” rating in a research note on Sunday, November 19th. Jefferies Group reissued a “buy” rating and issued a $99.00 target price on shares of Medtronic in a research note on Thursday, November 23rd. Finally, Northland Securities reissued a “hold” rating and issued a $80.00 target price on shares of Medtronic in a research note on Wednesday, November 22nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the stock. Medtronic currently has an average rating of “Buy” and an average price target of $89.65.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Medtronic by 2.4% during the second quarter. Vanguard Group Inc. now owns 104,776,036 shares of the medical technology company’s stock worth $9,298,872,000 after buying an additional 2,454,380 shares in the last quarter. BlackRock Inc. grew its position in Medtronic by 2.8% during the second quarter. BlackRock Inc. now owns 89,512,229 shares of the medical technology company’s stock worth $7,944,210,000 after buying an additional 2,476,853 shares in the last quarter. Artisan Partners Limited Partnership grew its position in Medtronic by 1.1% during the third quarter. Artisan Partners Limited Partnership now owns 23,853,034 shares of the medical technology company’s stock worth $1,855,050,000 after buying an additional 269,814 shares in the last quarter. Lazard Asset Management LLC grew its position in Medtronic by 43.8% during the second quarter. Lazard Asset Management LLC now owns 19,669,866 shares of the medical technology company’s stock worth $1,745,699,000 after buying an additional 5,991,094 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in Medtronic by 1.4% during the third quarter. Wells Fargo & Company MN now owns 12,378,331 shares of the medical technology company’s stock worth $962,664,000 after buying an additional 165,149 shares in the last quarter. Institutional investors own 81.72% of the company’s stock.
Medtronic Company Profile
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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