Summit Trail Advisors LLC Has $250,000 Position in Medtronic PLC (MDT)

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Summit Trail Advisors LLC trimmed its position in Medtronic PLC (NYSE:MDT) by 69.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,741 shares of the medical technology company’s stock after selling 6,205 shares during the quarter. Summit Trail Advisors LLC’s holdings in Medtronic were worth $250,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Medtronic by 1.1% in the third quarter. Vanguard Group Inc. now owns 109,447,687 shares of the medical technology company’s stock valued at $10,766,369,000 after acquiring an additional 1,199,118 shares in the last quarter. Vanguard Group Inc boosted its holdings in Medtronic by 1.1% in the third quarter. Vanguard Group Inc now owns 109,447,687 shares of the medical technology company’s stock valued at $10,766,369,000 after acquiring an additional 1,199,118 shares in the last quarter. BlackRock Inc. boosted its holdings in Medtronic by 1.5% in the fourth quarter. BlackRock Inc. now owns 98,921,138 shares of the medical technology company’s stock valued at $8,997,868,000 after acquiring an additional 1,487,997 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Medtronic by 1.3% in the fourth quarter. Bank of New York Mellon Corp now owns 17,225,948 shares of the medical technology company’s stock valued at $1,566,873,000 after acquiring an additional 213,593 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Medtronic by 4.3% in the fourth quarter. Northern Trust Corp now owns 16,526,215 shares of the medical technology company’s stock valued at $1,503,225,000 after acquiring an additional 688,537 shares in the last quarter. 80.59% of the stock is currently owned by institutional investors.

Shares of MDT traded down $0.34 during trading hours on Tuesday, hitting $91.55. The company had a trading volume of 27,331 shares, compared to its average volume of 5,857,049. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.36 and a quick ratio of 1.92. The firm has a market cap of $123.24 billion, a PE ratio of 19.20, a P/E/G ratio of 2.44 and a beta of 0.82. Medtronic PLC has a 52-week low of $76.41 and a 52-week high of $100.15.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, February 19th. The medical technology company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.05. The firm had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.53 billion. Medtronic had a return on equity of 13.85% and a net margin of 16.10%. Medtronic’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.17 EPS. As a group, sell-side analysts anticipate that Medtronic PLC will post 5.15 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Friday, March 22nd will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Thursday, March 21st. Medtronic’s dividend payout ratio is presently 41.93%.

Several research firms recently weighed in on MDT. Northland Securities reiterated a “hold” rating and issued a $84.00 price target on shares of Medtronic in a report on Monday. Oppenheimer reiterated a “buy” rating and issued a $104.00 price target on shares of Medtronic in a report on Tuesday, November 20th. Barclays reiterated a “buy” rating and issued a $104.00 price target on shares of Medtronic in a report on Wednesday, February 20th. Citigroup lifted their price target on shares of Medtronic from $95.00 to $101.00 and gave the company a “neutral” rating in a report on Monday, February 25th. Finally, Credit Suisse Group began coverage on shares of Medtronic in a report on Monday, December 17th. They set an “outperform” rating and a $109.00 target price on the stock. Ten equities 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 stock. The company has an average rating of “Buy” and an average target price of $103.43.

In related news, CEO Omar Ishrak purchased 12,000 shares of the stock in a transaction dated Wednesday, January 9th. The stock was purchased at an average price of $84.05 per share, with a total value of $1,008,600.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Karen L. Parkhill purchased 3,000 shares of the stock in a transaction dated Wednesday, January 9th. The stock was bought at an average cost of $83.87 per share, with a total value of $251,610.00. The disclosure for this purchase can be found here. 0.28% of the stock is owned by insiders.

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About Medtronic

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.

Further Reading: Sell-Side Analysts

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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