234,746 Shares in Medtronic PLC (MDT) Acquired by Skandinaviska Enskilda Banken AB publ
Skandinaviska Enskilda Banken AB publ bought a new stake in Medtronic PLC (NYSE:MDT) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 234,746 shares of the medical technology company’s stock, valued at approximately $23,092,000.
Other large investors have also recently modified their holdings of the company. Point72 Asset Management L.P. raised its holdings in Medtronic by 11.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 823,622 shares of the medical technology company’s stock valued at $70,510,000 after acquiring an additional 82,423 shares during the period. Affiance Financial LLC raised its holdings in Medtronic by 18.6% in the 2nd quarter. Affiance Financial LLC now owns 8,080 shares of the medical technology company’s stock valued at $692,000 after acquiring an additional 1,268 shares during the period. Royal London Asset Management Ltd. bought a new position in Medtronic in the 2nd quarter valued at about $49,276,000. First Hawaiian Bank bought a new position in Medtronic in the 3rd quarter valued at about $3,143,000. Finally, WINTON GROUP Ltd raised its holdings in Medtronic by 60.2% in the 2nd quarter. WINTON GROUP Ltd now owns 99,746 shares of the medical technology company’s stock valued at $8,539,000 after acquiring an additional 37,482 shares during the period. Institutional investors and hedge funds own 80.00% of the company’s stock.
MDT has been the topic of several research analyst reports. Zacks Investment Research raised shares of Medtronic from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a report on Tuesday, October 23rd. ValuEngine raised shares of Medtronic from a “hold” rating to a “buy” rating in a report on Friday, September 7th. Citigroup increased their price target on shares of Medtronic from $104.00 to $109.00 and gave the company a “buy” rating in a report on Friday, August 24th. SunTrust Banks increased their price target on shares of Medtronic to $110.00 and gave the company a “buy” rating in a report on Friday, August 24th. Finally, Argus raised their target price on shares of Medtronic from $108.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, October 8th. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $102.58.
Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 21st. The medical technology company reported $1.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.06. Medtronic had a net margin of 10.56% and a return on equity of 12.98%. The company had revenue of $7.38 billion for the quarter, compared to analysts’ expectations of $7.24 billion. During the same period last year, the firm earned $1.12 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis. As a group, equities analysts predict that Medtronic PLC will post 5.12 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 19th. Investors of record on Friday, September 28th were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $2.00 dividend on an annualized basis and a yield of 2.12%. Medtronic’s dividend payout ratio (DPR) is 41.93%.
In related news, EVP Geoffrey Martha sold 49,799 shares of Medtronic stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $97.93, for a total value of $4,876,816.07. Following the transaction, the executive vice president now directly owns 87,872 shares of the company’s stock, valued at $8,605,304.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard H. Anderson acquired 2,600 shares of the firm’s stock in a transaction that occurred on Thursday, August 23rd. The stock was purchased at an average cost of $95.88 per share, for a total transaction of $249,288.00. The disclosure for this purchase can be found here. Insiders sold 268,678 shares of company stock worth $25,818,353 over the last three months. 0.28% of the stock is currently owned by insiders.
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Medtronic Company Profile
Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.
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