Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Medtronic plc. (NYSE:MDT) by 0.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 322,379 shares of the medical technology company’s stock after purchasing an additional 1,389 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Medtronic were worth $25,071,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in MDT. BlackRock Inc. raised its stake in Medtronic by 2,513.4% in 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 purchasing an additional 83,705,052 shares in the last quarter. Lazard Asset Management LLC raised its stake in Medtronic by 1,061.4% in 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 purchasing an additional 12,500,992 shares in the last quarter. Vanguard Group Inc. raised its stake in Medtronic by 4.5% in 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 purchasing an additional 4,412,536 shares in the last quarter. Alliancebernstein L.P. raised its stake in 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 in the last quarter. Finally, American Century Companies Inc. raised its stake in Medtronic by 35.0% in the third quarter. American Century Companies Inc. now owns 9,082,452 shares of the medical technology company’s stock valued at $706,342,000 after purchasing an additional 2,354,467 shares in the last quarter. 81.72% of the stock is owned by hedge funds and other institutional investors.
MDT has been the subject of several research analyst reports. Needham & Company LLC lowered their target price on Medtronic from $95.00 to $94.00 and set a “buy” rating for the company in a research note on Tuesday, October 10th. SunTrust Banks set a $92.00 target price on Medtronic and gave the stock a “buy” rating in a research note on Sunday, November 19th. Cowen reissued a “buy” rating and set a $95.00 target price on shares of Medtronic in a research note on Friday, November 3rd. Jefferies Group reissued a “buy” rating and set a $96.00 target price on shares of Medtronic in a research note on Thursday, September 28th. Finally, Oppenheimer reissued a “buy” rating and set a $94.00 target price on shares of Medtronic in a research note on Wednesday, November 22nd. Two investment 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 currently has an average rating of “Buy” and an average target price of $89.65.
In other Medtronic news, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $78.03, for a total transaction of $1,248,480.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Hooman Hakami sold 26,158 shares of the stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $85.00, for a total value of $2,223,430.00. The disclosure for this sale can be found here. Insiders sold 152,684 shares of company stock worth $12,831,076 over the last quarter. 0.31% of the stock is currently owned by company insiders.
Shares of Medtronic plc. (NYSE MDT) traded down $0.28 during mid-day trading on Friday, reaching $85.45. The company had a trading volume of 5,085,912 shares, compared to its average volume of 4,960,000. Medtronic plc. has a 1-year low of $73.59 and a 1-year high of $89.72. The company has a market capitalization of $116,040.00, a PE ratio of 23.48, a PEG ratio of 2.36 and a beta of 0.99. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.40 and a quick ratio of 2.05.
Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.08. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The business had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same period in the prior year, the business posted $1.12 earnings per share. The firm’s revenue was down 4.0% on a year-over-year basis. sell-side analysts predict that Medtronic plc. will post 4.77 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Friday, December 29th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.15%. The ex-dividend date is Thursday, December 28th. Medtronic’s payout ratio is presently 50.55%.
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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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