Capital International Inc. CA trimmed its position in shares of Medtronic plc. (NYSE:MDT) by 55.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,800 shares of the medical technology company’s stock after selling 27,100 shares during the quarter. Capital International Inc. CA’s holdings in Medtronic were worth $1,695,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in MDT. Vanguard Group Inc. raised its holdings in shares of Medtronic by 2.4% during the second 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 during the period. BlackRock Inc. raised its holdings in shares of Medtronic by 2.8% during the second quarter. BlackRock Inc. now owns 89,512,229 shares of the medical technology company’s stock worth $7,944,210,000 after acquiring an additional 2,476,853 shares during the period. Artisan Partners Limited Partnership raised its holdings in shares of Medtronic by 1.1% during the third quarter. Artisan Partners Limited Partnership now owns 23,853,034 shares of the medical technology company’s stock worth $1,855,050,000 after acquiring an additional 269,814 shares during the period. Lazard Asset Management LLC raised its holdings in shares of Medtronic by 43.8% during 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 acquiring an additional 5,991,094 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in shares of Medtronic by 1.4% during the third quarter. Wells Fargo & Company MN now owns 12,378,331 shares of the medical technology company’s stock worth $962,664,000 after acquiring an additional 165,149 shares during the period. 81.97% of the stock is currently owned by institutional investors.
A number of equities research analysts recently commented on MDT shares. Needham & Company LLC restated a “buy” rating and set a $94.00 price objective on shares of Medtronic in a report on Thursday, November 9th. SunTrust Banks set a $92.00 price objective on shares of Medtronic and gave the stock a “buy” rating in a report on Sunday, November 19th. Royal Bank of Canada lowered their price target on shares of Medtronic from $90.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday, October 9th. Evercore ISI started coverage on shares of Medtronic in a research note on Wednesday, January 3rd. They issued an “outperform” rating and a $92.50 price target on the stock. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $89.00 price target (down from $92.00) on shares of Medtronic in a research note on Tuesday, October 10th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Medtronic has a consensus rating of “Buy” and a consensus target price of $89.65.
Medtronic plc. (MDT) traded down $0.07 during trading on Wednesday, hitting $85.89. 5,257,670 shares of the stock traded hands, compared to its average volume of 4,970,000. The firm has a market cap of $116,350.00, a price-to-earnings ratio of 23.60, a PEG ratio of 2.39 and a beta of 0.99. Medtronic plc. has a one year low of $74.27 and a one year high of $89.72. The company has a quick ratio of 2.05, a current ratio of 2.40 and a debt-to-equity ratio of 0.50.
Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.08. The company had revenue of $7.05 billion for the quarter, compared to analyst estimates of $7.05 billion. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. Medtronic’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.12 EPS. sell-side analysts anticipate that Medtronic plc. will post 4.76 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, January 19th. Investors of record on Friday, December 29th were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.14%. The ex-dividend date was Thursday, December 28th. Medtronic’s payout ratio is 50.55%.
In related news, EVP Bryan C. Hanson sold 16,000 shares of Medtronic 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Hooman Hakami sold 26,158 shares of Medtronic stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $85.00, for a total transaction of $2,223,430.00. The disclosure for this sale can be found here. Insiders have sold a total of 136,684 shares of company stock valued at $11,582,596 in the last ninety days. 0.31% of the stock is currently owned by insiders.
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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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