Medtronic plc. (NYSE:MDT) Stake Lessened by AGF Investments Inc.

AGF Investments Inc. cut its stake in shares of Medtronic plc. (NYSE:MDT) by 5.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 534,990 shares of the medical technology company’s stock after selling 29,382 shares during the period. AGF Investments Inc.’s holdings in Medtronic were worth $41,606,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hudock Capital Group LLC boosted its position in Medtronic by 0.5% during the 2nd quarter. Hudock Capital Group LLC now owns 2,195 shares of the medical technology company’s stock worth $194,000 after purchasing an additional 11 shares during the period. Triangle Securities Wealth Management boosted its position in Medtronic by 0.3% during the 2nd quarter. Triangle Securities Wealth Management now owns 4,396 shares of the medical technology company’s stock worth $390,000 after purchasing an additional 15 shares during the period. IFC Holdings Incorporated FL boosted its position in Medtronic by 0.3% during the 2nd quarter. IFC Holdings Incorporated FL now owns 5,673 shares of the medical technology company’s stock worth $501,000 after purchasing an additional 17 shares during the period. Arcus Capital Partners LLC boosted its position in Medtronic by 0.8% during the 2nd quarter. Arcus Capital Partners LLC now owns 3,249 shares of the medical technology company’s stock worth $288,000 after purchasing an additional 25 shares during the period. Finally, Hanson McClain Inc. boosted its position in Medtronic by 0.5% during the 2nd quarter. Hanson McClain Inc. now owns 7,281 shares of the medical technology company’s stock worth $646,000 after purchasing an additional 35 shares during the period. 81.72% of the stock is owned by institutional investors.

Shares of Medtronic plc. (NYSE:MDT) opened at $85.45 on Friday. The stock has a market cap 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 plc. has a 12 month low of $73.59 and a 12 month high of $89.72.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.08. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The business had revenue of $7.05 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same quarter in the prior year, the business posted $1.12 EPS. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. sell-side analysts forecast that Medtronic plc. will post 4.77 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Friday, December 29th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Thursday, December 28th. Medtronic’s dividend payout ratio is presently 50.55%.

A number of analysts recently weighed in on the stock. SunTrust Banks reaffirmed a “buy” rating and set a $96.00 price target on shares of Medtronic in a research report on Monday, October 2nd. Evercore ISI initiated coverage on shares of Medtronic in a report on Wednesday, January 3rd. They issued an “outperform” rating and a $92.50 price objective on the stock. Jefferies Group reiterated a “buy” rating and issued a $96.00 price objective on shares of Medtronic in a report on Thursday, September 28th. Bank of America upgraded shares of Medtronic from a “neutral” rating to a “buy” rating in a report on Tuesday, January 2nd. Finally, Royal Bank of Canada cut their price objective on shares of Medtronic from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, October 9th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $89.65.

In other Medtronic news, VP Richard Kuntz sold 78,526 shares of the company’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $86.21, for a total value of $6,769,726.46. Following the completion of the transaction, the vice president now owns 149,761 shares in the company, valued at approximately $12,910,895.81. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $79.02, for a total transaction of $1,264,320.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 152,684 shares of company stock valued at $12,831,076. Insiders own 0.31% of the company’s stock.

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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.

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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