Prentiss Smith & Co. Inc. Has $8.15 Million Stock Position in Medtronic PLC (NYSE:MDT)
Prentiss Smith & Co. Inc. boosted its position in Medtronic PLC (NYSE:MDT) by 2.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 83,693 shares of the medical technology company’s stock after buying an additional 1,618 shares during the period. Medtronic comprises about 5.3% of Prentiss Smith & Co. Inc.’s portfolio, making the stock its 3rd biggest holding. Prentiss Smith & Co. Inc.’s holdings in Medtronic were worth $8,151,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MDT. Cordasco Financial Network bought a new stake in shares of Medtronic during the 1st quarter valued at $27,000. Pin Oak Investment Advisors Inc. lifted its position in shares of Medtronic by 158.0% during the 4th quarter. Pin Oak Investment Advisors Inc. now owns 369 shares of the medical technology company’s stock valued at $34,000 after acquiring an additional 226 shares during the period. Spectrum Management Group Inc. lifted its position in shares of Medtronic by 353.8% during the 1st quarter. Spectrum Management Group Inc. now owns 413 shares of the medical technology company’s stock valued at $38,000 after acquiring an additional 322 shares during the period. Mackey Komara & Dankovich LLC bought a new stake in shares of Medtronic during the 1st quarter valued at $38,000. Finally, Capital Financial Planning LLC bought a new stake in shares of Medtronic during the 4th quarter valued at $42,000. Institutional investors and hedge funds own 79.99% of the company’s stock.
NYSE:MDT traded up $0.46 during trading hours on Friday, reaching $102.55. The stock had a trading volume of 3,515,600 shares, compared to its average volume of 3,613,033. The company has a current ratio of 2.59, a quick ratio of 2.15 and a debt-to-equity ratio of 0.49. The stock has a 50 day moving average of $98.87. Medtronic PLC has a 12-month low of $81.66 and a 12-month high of $103.29. The firm has a market capitalization of $136.92 billion, a PE ratio of 19.65, a P/E/G ratio of 2.62 and a beta of 0.68.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 8th were given a $0.54 dividend. This is an increase from Medtronic’s previous quarterly dividend of $0.50. This represents a $2.16 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend was Friday, July 5th. Medtronic’s dividend payout ratio (DPR) is currently 41.38%.
In other Medtronic news, SVP Carol A. Surface sold 9,000 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $97.66, for a total value of $878,940.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Richard Kuntz sold 3,438 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $101.12, for a total value of $347,650.56. The disclosure for this sale can be found here. Insiders sold 85,102 shares of company stock valued at $8,244,274 over the last three months. Company insiders own 0.28% of the company’s stock.
A number of research firms have recently weighed in on MDT. Needham & Company LLC upped their target price on AudioCodes to $20.00 and gave the company a “buy” rating in a research report on Tuesday. Northland Securities began coverage on THUNDER BRDG AC/SH SH in a research note on Thursday, June 20th. They issued an “outperform” rating for the company. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Royal Bank of Canada decreased their price target on Medtronic to $100.00 and set an “outperform” rating for the company in a research report on Tuesday, May 28th. Finally, Barclays set a $5.00 price target on Amneal Pharmaceuticals and gave the company a “hold” rating in a research report on Thursday, July 11th. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Medtronic presently has an average rating of “Buy” and an average price target of $106.05.
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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