Cullen Capital Management LLC acquired a new stake in Medtronic plc (NYSE:MDT – Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,018,873 shares of the medical technology company’s stock, valued at approximately $243,382,000. Medtronic makes up 2.2% of Cullen Capital Management LLC’s holdings, making the stock its 13th biggest holding. Cullen Capital Management LLC owned 0.23% of Medtronic as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the business. Sageworth Trust Co acquired a new stake in Medtronic in the 1st quarter worth about $26,000. Laurel Wealth Advisors LLC increased its position in shares of Medtronic by 250.0% during the first quarter. Laurel Wealth Advisors LLC now owns 350 shares of the medical technology company’s stock worth $28,000 after purchasing an additional 250 shares in the last quarter. Avalon Trust Co acquired a new position in Medtronic in the 1st quarter valued at $32,000. CKW Financial Group lifted its holdings in Medtronic by 60.0% in the 1st quarter. CKW Financial Group now owns 400 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 150 shares in the last quarter. Finally, Tucker Asset Management LLC acquired a new stake in Medtronic during the 1st quarter worth $32,000. 80.75% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Brett A. Wall sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $87.97, for a total transaction of $175,940.00. Following the sale, the executive vice president now directly owns 23,948 shares of the company’s stock, valued at approximately $2,106,705.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Medtronic news, EVP Brett A. Wall sold 2,000 shares of the company’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $87.97, for a total transaction of $175,940.00. Following the sale, the executive vice president now owns 23,948 shares in the company, valued at approximately $2,106,705.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Hoedt Rob Ten sold 5,514 shares of Medtronic stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $86.58, for a total value of $477,402.12. Following the completion of the transaction, the executive vice president now owns 43,802 shares of the company’s stock, valued at approximately $3,792,377.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,866 shares of company stock valued at $1,688,839. 0.30% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Medtronic Trading Up 0.0 %
Shares of NYSE:MDT traded up $0.03 during mid-day trading on Friday, reaching $79.96. 4,208,713 shares of the company were exchanged, compared to its average volume of 4,675,919. Medtronic plc has a 1 year low of $75.76 and a 1 year high of $92.39. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.42 and a quick ratio of 1.79. The firm’s 50-day simple moving average is $84.68 and its 200 day simple moving average is $84.41. The firm has a market cap of $106.39 billion, a price-to-earnings ratio of 29.51, a P/E/G ratio of 2.81 and a beta of 0.71.
Medtronic (NYSE:MDT – Get Free Report) last released its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.11 by $0.09. Medtronic had a return on equity of 13.81% and a net margin of 11.47%. The business had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.57 billion. During the same period last year, the business posted $1.13 earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis. Equities research analysts forecast that Medtronic plc will post 5.12 EPS for the current year.
Medtronic Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 22nd will be given a dividend of $0.69 per share. The ex-dividend date is Thursday, September 21st. This represents a $2.76 annualized dividend and a dividend yield of 3.45%. Medtronic’s dividend payout ratio is presently 101.85%.
Medtronic Company Profile
Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.
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