Medtronic PLC (NYSE:MDT) Holdings Trimmed by Capital International Investors

Capital International Investors lessened its stake in shares of Medtronic PLC (NYSE:MDT) by 4.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,286,646 shares of the medical technology company’s stock after selling 317,062 shares during the period. Capital International Investors owned approximately 0.54% of Medtronic worth $646,690,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of Medtronic by 2,513.4% during the first quarter. BlackRock Inc. now owns 87,035,376 shares of the medical technology company’s stock valued at $7,011,571,000 after buying an additional 83,705,052 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of Medtronic by 1,061.4% during the first 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 buying an additional 12,500,992 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Medtronic by 4.5% during the first quarter. Vanguard Group Inc. now owns 102,321,656 shares of the medical technology company’s stock valued at $8,243,034,000 after buying an additional 4,412,536 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Medtronic by 135.5% in the second quarter. Alliancebernstein L.P. now owns 6,070,160 shares of the medical technology company’s stock valued at $538,727,000 after purchasing an additional 3,493,058 shares during the period. Finally, Sanders Capital LLC boosted its holdings in shares of Medtronic by 43.7% in the second quarter. Sanders Capital LLC now owns 6,670,948 shares of the medical technology company’s stock valued at $651,800,000 after purchasing an additional 2,027,147 shares during the period. 81.85% of the stock is owned by institutional investors.

Medtronic PLC (MDT) traded down $1.40 during trading on Monday, reaching $79.87. 8,687,312 shares of the company traded hands, compared to its average volume of 4,957,406. Medtronic PLC has a 12-month low of $69.35 and a 12-month high of $89.72. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.40 and a quick ratio of 2.05. The firm has a market cap of $110,010.00, a P/E ratio of 17.51, a PEG ratio of 2.24 and a beta of 1.00.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.08. The business had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $7.05 billion. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.12 earnings per share. research analysts predict that Medtronic PLC will post 4.77 earnings per share for the current year.

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 completion of the sale, the chief executive officer now directly owns 668,503 shares of the company’s stock, valued at $54,569,899.89. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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. Over the last ninety days, insiders have sold 172,407 shares of company stock valued at $13,974,223. Corporate insiders own 0.31% of the company’s stock.

Several equities analysts recently issued reports on the company. Cowen set a $95.00 target price on Medtronic and gave the company a “buy” rating in a research report on Tuesday, August 22nd. Oppenheimer reaffirmed a “buy” rating and set a $92.00 price objective on shares of Medtronic in a research report on Tuesday, August 22nd. Royal Bank Of Canada reaffirmed a “buy” rating and set a $90.00 price objective on shares of Medtronic in a research report on Monday, August 21st. BidaskClub raised shares of Medtronic from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Finally, Stifel Nicolaus increased their price target on Medtronic from $83.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, November 22nd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $88.02.

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About Medtronic

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 (NYSE:MDT)

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