New York State Common Retirement Fund decreased its stake in Medtronic plc. (NYSE:MDT) by 1.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,778,600 shares of the medical technology company’s stock after selling 58,200 shares during the period. New York State Common Retirement Fund owned approximately 0.28% of Medtronic worth $293,862,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in MDT. Vanguard Group Inc. boosted its stake in shares of Medtronic by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 104,776,036 shares of the medical technology company’s stock worth $9,298,872,000 after acquiring an additional 2,454,380 shares in the last quarter. BlackRock Inc. boosted its position in shares of Medtronic by 2.8% in the second quarter. BlackRock Inc. now owns 89,512,229 shares of the medical technology company’s stock worth $7,944,210,000 after buying an additional 2,476,853 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Medtronic by 3.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 58,646,070 shares of the medical technology company’s stock worth $4,724,526,000 after buying an additional 1,729,715 shares during the period. Lazard Asset Management LLC boosted its position in shares of Medtronic by 43.8% in the second quarter. Lazard Asset Management LLC now owns 19,669,866 shares of the medical technology company’s stock worth $1,745,699,000 after buying an additional 5,991,094 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Medtronic by 7.3% in the first quarter. Geode Capital Management LLC now owns 13,308,812 shares of the medical technology company’s stock worth $1,070,622,000 after buying an additional 906,581 shares during the period. Institutional investors and hedge funds own 81.72% of the company’s stock.
In related news, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction that occurred 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Richard Kuntz sold 78,526 shares of the stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $86.21, for a total transaction of $6,769,726.46. Following the sale, the vice president now owns 149,761 shares in the company, valued at approximately $12,910,895.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 152,684 shares of company stock worth $12,831,076. Company insiders own 0.31% of the company’s stock.
Several analysts recently issued reports on the company. Stifel Nicolaus increased their price objective on Medtronic from $83.00 to $85.00 and gave the stock a “hold” rating in a report on Wednesday, November 22nd. Oppenheimer restated a “buy” rating and set a $94.00 target price on shares of Medtronic in a report on Wednesday, November 22nd. Northland Securities restated a “hold” rating and set a $80.00 target price on shares of Medtronic in a report on Wednesday, November 22nd. Zacks Investment Research raised Medtronic from a “sell” rating to a “hold” rating in a research report on Thursday, November 23rd. Finally, Jefferies Group reissued a “buy” rating and set a $99.00 target price on shares of Medtronic in a research report on Thursday, November 23rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $89.65.
Shares of Medtronic plc. (NYSE:MDT) traded up $0.24 during mid-day trading on Thursday, hitting $85.73. 3,800,700 shares of the stock were exchanged, compared to its average volume of 5,594,702. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.05 and a current ratio of 2.40. The company has a market cap of $115,710.00, a PE ratio of 23.55, a price-to-earnings-growth ratio of 2.35 and a beta of 0.99. Medtronic plc. has a 12 month low of $73.59 and a 12 month high of $89.72.
Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.08. The firm had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $7.05 billion. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The business’s revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.12 EPS. research analysts anticipate that Medtronic plc. will post 4.77 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Shareholders of record on Friday, December 29th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.15%. Medtronic’s payout ratio is presently 50.55%.
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Medtronic 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.
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