Atlantic Trust Group LLC Trims Stake in Medtronic PLC (NYSE:MDT)

Atlantic Trust Group LLC lessened its position in shares of Medtronic PLC (NYSE:MDT) by 0.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,791,887 shares of the medical technology company’s stock after selling 6,421 shares during the period. Medtronic PLC comprises 1.0% of Atlantic Trust Group LLC’s holdings, making the stock its 28th largest position. Atlantic Trust Group LLC owned approximately 0.13% of Medtronic PLC worth $159,031,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wesbanco Bank Inc. grew its holdings in shares of Medtronic PLC by 3.1% in the 2nd quarter. Wesbanco Bank Inc. now owns 10,170 shares of the medical technology company’s stock valued at $903,000 after acquiring an additional 308 shares in the last quarter. Dupont Capital Management Corp grew its holdings in shares of Medtronic PLC by 28.8% in the 2nd quarter. Dupont Capital Management Corp now owns 74,052 shares of the medical technology company’s stock valued at $6,572,000 after acquiring an additional 16,562 shares in the last quarter. Chilton Investment Co. LLC lifted its stake in Medtronic PLC by 6.1% in the 2nd quarter. Chilton Investment Co. LLC now owns 26,842 shares of the medical technology company’s stock valued at $2,382,000 after purchasing an additional 1,538 shares during the last quarter. RMB Capital Management LLC acquired a new stake in Medtronic PLC in the 1st quarter valued at about $4,576,000. Finally, Lazard Asset Management LLC lifted its stake in Medtronic PLC by 1,061.4% in the 1st quarter. Lazard Asset Management LLC now owns 13,678,772 shares of the medical technology company’s stock valued at $1,101,960,000 after purchasing an additional 12,500,992 shares during the last quarter. Institutional investors own 80.91% of the company’s stock.

Medtronic PLC (NYSE:MDT) traded down $1.48 during midday trading on Friday, hitting $79.33. 6,416,300 shares of the company’s stock were exchanged, compared to its average volume of 4,903,786. The company has a market capitalization of $109,464.49, a PE ratio of 17.23, a PEG ratio of 2.24 and a beta of 1.00. Medtronic PLC has a 12-month low of $69.35 and a 12-month high of $89.72. The company has a current ratio of 1.64, a quick ratio of 1.40 and a debt-to-equity ratio of 0.51.

Medtronic PLC (NYSE:MDT) last posted its earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. The firm had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.44 billion. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. The company’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.03 earnings per share. analysts expect that Medtronic PLC will post 4.64 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 20th. Shareholders of record on Friday, September 29th were paid a dividend of $0.46 per share. The ex-dividend date was Thursday, September 28th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.32%. Medtronic PLC’s payout ratio is presently 61.95%.

Several equities research analysts recently issued reports on MDT shares. Zacks Investment Research downgraded shares of Medtronic PLC from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. Wells Fargo & Company downgraded shares of Medtronic PLC from an “outperform” rating to a “market perform” rating and cut their target price for the company from $93.00 to $83.00 in a research note on Monday, October 9th. Stifel Nicolaus cut their target price on shares of Medtronic PLC from $91.00 to $83.00 and set a “hold” rating for the company in a research note on Monday, October 9th. Leerink Swann reiterated a “market perform” rating and issued a $85.00 target price (down from $88.00) on shares of Medtronic PLC in a research note on Monday, October 9th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $92.00 target price (down from $94.00) on shares of Medtronic PLC in a research note on Wednesday, August 23rd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company. Medtronic PLC currently has an average rating of “Hold” and an average price target of $87.88.

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In related news, CEO Omar Ishrak sold 140,407 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $81.63, for a total value of $11,461,423.41. Following the transaction, the chief executive officer now owns 668,503 shares in the company, valued at $54,569,899.89. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Bryan C. Hanson sold 16,000 shares of the business’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $78.03, for a total transaction of $1,248,480.00. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Medtronic PLC 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.

Institutional Ownership by Quarter for Medtronic PLC (NYSE:MDT)

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