F&V Capital Management LLC Lowers Stake in Medtronic plc. (MDT)

F&V Capital Management LLC lessened its position in Medtronic plc. (NYSE:MDT) by 4.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 68,720 shares of the medical technology company’s stock after selling 2,880 shares during the period. Medtronic makes up 2.9% of F&V Capital Management LLC’s investment portfolio, making the stock its 14th largest holding. F&V Capital Management LLC’s holdings in Medtronic were worth $5,549,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Progressive Investment Management Corp raised its position in Medtronic by 2.3% during the fourth quarter. Progressive Investment Management Corp now owns 31,416 shares of the medical technology company’s stock worth $2,537,000 after acquiring an additional 705 shares during the last quarter. Confluence Investment Management LLC raised its position in Medtronic by 1.7% during the fourth quarter. Confluence Investment Management LLC now owns 200,406 shares of the medical technology company’s stock worth $16,183,000 after acquiring an additional 3,347 shares during the last quarter. Washington Trust Bank raised its position in Medtronic by 1.5% during the fourth quarter. Washington Trust Bank now owns 82,908 shares of the medical technology company’s stock worth $6,695,000 after acquiring an additional 1,242 shares during the last quarter. Prudential Financial Inc. raised its position in Medtronic by 1.6% during the third quarter. Prudential Financial Inc. now owns 3,308,500 shares of the medical technology company’s stock worth $257,302,000 after acquiring an additional 53,474 shares during the last quarter. Finally, Atlantic Trust Group LLC raised its position in Medtronic by 1.3% during the third quarter. Atlantic Trust Group LLC now owns 1,814,879 shares of the medical technology company’s stock worth $141,142,000 after acquiring an additional 22,992 shares during the last quarter. Institutional investors own 81.84% of the company’s stock.

In other Medtronic news, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $82.82, for a total transaction of $1,325,120.00. Following the completion of the sale, the executive vice president now directly owns 88,818 shares of the company’s stock, valued at $7,355,906.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $6,769,726.46. Following the sale, the vice president now directly owns 149,761 shares of the company’s stock, valued at $12,910,895.81. The disclosure for this sale can be found here. Insiders sold a total of 136,684 shares of company stock valued at $11,582,596 over the last three months. 0.31% of the stock is owned by corporate insiders.

Medtronic plc. (MDT) opened at $86.68 on Monday. The company has a market cap of $117,321.20, a PE ratio of 23.75, a PEG ratio of 2.39 and a beta of 1.00. 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.

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

The firm also recently declared a quarterly dividend, which was paid on Friday, January 19th. Shareholders of record on Friday, December 29th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Thursday, December 28th. Medtronic’s payout ratio is 50.41%.

A number of equities research analysts have recently commented on MDT shares. Needham & Company LLC lowered their price target on shares of Medtronic from $95.00 to $94.00 and set a “buy” rating for the company in a report on Tuesday, October 10th. SunTrust Banks set a $92.00 price target on shares of Medtronic and gave the stock a “buy” rating in a report on Sunday, November 19th. Cowen reiterated a “buy” rating and set a $95.00 price target on shares of Medtronic in a report on Friday, November 3rd. Jefferies Group restated a “buy” rating and issued a $96.00 target price on shares of Medtronic in a report on Thursday, September 28th. Finally, Oppenheimer restated a “buy” rating and issued a $94.00 target price on shares of Medtronic in a report on Wednesday, November 22nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the stock. Medtronic has a consensus rating of “Buy” and a consensus target price of $89.65.

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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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