Toronto Dominion Bank Increases Holdings in Medtronic plc. (MDT)

Toronto Dominion Bank raised its stake in shares of Medtronic plc. (NYSE:MDT) by 13.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 583,363 shares of the medical technology company’s stock after buying an additional 68,931 shares during the quarter. Toronto Dominion Bank’s holdings in Medtronic were worth $47,106,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Beach Investment Management LLC. purchased a new stake in shares of Medtronic in the 2nd quarter worth $3,534,000. Homrich & Berg increased its stake in shares of Medtronic by 26.8% in the 2nd quarter. Homrich & Berg now owns 6,331 shares of the medical technology company’s stock worth $562,000 after purchasing an additional 1,340 shares in the last quarter. Motco increased its stake in shares of Medtronic by 8.7% in the 2nd quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after purchasing an additional 99 shares in the last quarter. Greenwood Capital Associates LLC increased its stake in shares of Medtronic by 3.7% in the 2nd quarter. Greenwood Capital Associates LLC now owns 35,763 shares of the medical technology company’s stock worth $3,174,000 after purchasing an additional 1,277 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Medtronic by 82.1% in the 2nd quarter. Principal Financial Group Inc. now owns 3,603,409 shares of the medical technology company’s stock worth $319,802,000 after purchasing an additional 1,624,364 shares in the last quarter. Institutional investors and hedge funds own 81.91% of the company’s stock.

In other Medtronic news, EVP Bryan C. Hanson sold 16,000 shares of the 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 transaction, the executive vice president now owns 88,818 shares of the company’s stock, valued at approximately $7,355,906.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard Kuntz sold 78,526 shares of the 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 transaction, the vice president now directly 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. Insiders have sold a total of 120,684 shares of company stock valued at $10,318,276 in the last three months. Insiders own 0.31% of the company’s stock.

Several equities research analysts have recently commented on the company. Royal Bank of Canada restated an “outperform” rating and issued a $92.00 price objective on shares of Medtronic in a research note on Wednesday. Morgan Stanley upped their price objective on Medtronic from $91.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Monday, February 5th. Oppenheimer set a $94.00 price objective on Medtronic and gave the stock a “buy” rating in a research note on Friday, January 19th. Evercore ISI assumed coverage on Medtronic in a research note on Wednesday, January 3rd. They issued an “outperform” rating and a $92.50 price objective for the company. Finally, Bank of America upgraded Medtronic from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $90.45.

Medtronic plc. (NYSE:MDT) opened at $83.31 on Friday. Medtronic plc. has a 1-year low of $76.51 and a 1-year high of $89.72. The company has a market cap of $112,759.92, a PE ratio of 22.82, a price-to-earnings-growth ratio of 2.29 and a beta of 0.93. 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 (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, beating the 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 business had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter in the prior year, the firm earned $1.12 EPS. The business’s revenue was down 4.0% on a year-over-year basis. equities research analysts forecast that Medtronic plc. will post 4.76 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 19th. Shareholders 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 2.21%. The ex-dividend date of this dividend was Thursday, December 28th. Medtronic’s dividend payout ratio (DPR) is presently 50.41%.

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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.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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