Pinebridge Investments L.P. Boosts Position in Medtronic plc. (MDT)

Pinebridge Investments L.P. boosted its holdings in Medtronic plc. (NYSE:MDT) by 4.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 126,554 shares of the medical technology company’s stock after buying an additional 4,839 shares during the quarter. Pinebridge Investments L.P.’s holdings in Medtronic were worth $9,842,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parkside Financial Bank & Trust lifted its position in Medtronic by 22.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock worth $102,000 after acquiring an additional 210 shares during the last quarter. BDO Wealth Advisors LLC acquired a new position in Medtronic during the 2nd quarter worth $103,000. Motco lifted its position in Medtronic by 8.7% during the 2nd quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after acquiring an additional 99 shares during the last quarter. Quadrant Capital Group LLC lifted its position in Medtronic by 21.5% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock worth $114,000 after acquiring an additional 290 shares during the last quarter. Finally, Blue Chip Partners Inc. acquired a new position in Medtronic during the 3rd quarter worth $118,000. Hedge funds and other institutional investors own 81.72% of the company’s stock.

In other news, EVP Bryan C. Hanson sold 16,000 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $79.02, for a total transaction of $1,264,320.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Richard Kuntz sold 78,526 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $12,910,895.81. The disclosure for this sale can be found here. In the last ninety days, insiders sold 152,684 shares of company stock valued at $12,831,076. 0.31% of the stock is owned by insiders.

Shares of Medtronic plc. (NYSE MDT) opened at $85.73 on Friday. The company has a current ratio of 2.40, a quick ratio of 2.05 and a debt-to-equity ratio of 0.50. Medtronic plc. has a 12-month low of $73.59 and a 12-month high of $89.72. The stock has a market cap of $115,710.00, a price-to-earnings ratio of 23.55, a PEG ratio of 2.35 and a beta of 0.99.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.08. The company 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 firm’s revenue was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.12 earnings per share. research analysts expect 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. Investors of record on Friday, December 29th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Thursday, December 28th. Medtronic’s dividend payout ratio (DPR) is currently 50.55%.

MDT has been the subject of a number of research analyst reports. Wells Fargo & Co lowered shares of Medtronic from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $93.00 to $83.00 in a research report on Monday, October 9th. Stifel Nicolaus lowered their target price on shares of Medtronic from $91.00 to $83.00 and set a “hold” rating on the stock in a research note on Monday, October 9th. SunTrust Banks reissued a “buy” rating and issued a $96.00 target price on shares of Medtronic in a research note on Friday, November 3rd. Leerink Swann reaffirmed a “market perform” rating and set a $85.00 price objective (down from $88.00) on shares of Medtronic in a research note on Monday, October 9th. Finally, Argus raised shares of Medtronic from a “hold” rating to a “buy” rating and upped their price objective for the stock from $81.27 to $95.00 in a research note on Tuesday, December 12th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $89.65.

TRADEMARK VIOLATION WARNING: “Pinebridge Investments L.P. Boosts Position in Medtronic plc. (MDT)” was reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this report on another website, it was copied illegally and republished in violation of international trademark and copyright legislation. The legal version of this report can be read at https://www.dispatchtribunal.com/2018/01/12/medtronic-plc-mdt-shares-bought-by-pinebridge-investments-l-p.html.

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)

Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply