Verition Fund Management LLC Lowers Holdings in Medtronic plc. (NYSE:MDT)

Verition Fund Management LLC trimmed its position in Medtronic plc. (NYSE:MDT) by 1.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,003 shares of the medical technology company’s stock after selling 688 shares during the quarter. Verition Fund Management LLC’s holdings in Medtronic were worth $3,472,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MDT. Nicholas Hoffman & Company LLC. grew its holdings in shares of Medtronic by 1.6% in the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 13,837 shares of the medical technology company’s stock worth $1,228,000 after acquiring an additional 215 shares during the last quarter. Brandywine Global Investment Management LLC grew its holdings in shares of Medtronic by 4.6% during the second quarter. Brandywine Global Investment Management LLC now owns 656,911 shares of the medical technology company’s stock valued at $58,301,000 after buying an additional 28,636 shares in the last quarter. Numeric Investors LLC purchased a new position in shares of Medtronic during the second quarter valued at $85,067,000. Stifel Financial Corp grew its holdings in shares of Medtronic by 8.5% during the second quarter. Stifel Financial Corp now owns 1,049,727 shares of the medical technology company’s stock valued at $93,197,000 after buying an additional 82,275 shares in the last quarter. Finally, Carnegie Capital Asset Management LLC grew its holdings in shares of Medtronic by 43.9% during the second quarter. Carnegie Capital Asset Management LLC now owns 14,313 shares of the medical technology company’s stock valued at $1,191,000 after buying an additional 4,366 shares in the last quarter. Institutional investors and hedge funds own 81.22% of the company’s stock.

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Shares of MDT opened at $77.64 on Friday. The company has a market capitalization of $108,023.23, a PE ratio of 16.88, a price-to-earnings-growth ratio of 2.24 and a beta of 0.94. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.09 and a current ratio of 2.43. Medtronic plc. has a one year low of $76.41 and a one year high of $89.72.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, February 20th. The medical technology company reported $1.17 EPS for the quarter, topping the consensus estimate of $1.16 by $0.01. Medtronic had a return on equity of 12.65% and a net margin of 9.44%. The business had revenue of $7.37 billion for the quarter, compared to the consensus estimate of $7.20 billion. During the same period in the previous year, the business earned $1.12 EPS. Medtronic’s revenue was up 1.2% compared to the same quarter last year. sell-side analysts expect that Medtronic plc. will post 4.74 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Friday, March 23rd will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Thursday, March 22nd. Medtronic’s dividend payout ratio is 40.00%.

In other news, SVP Carol A. Surface sold 24,479 shares of the stock in a transaction on Monday, March 5th. The stock was sold at an average price of $78.18, for a total value of $1,913,768.22. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Richard Kuntz sold 78,526 shares of the stock in a transaction on 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 directly owns 149,761 shares in the company, valued at approximately $12,910,895.81. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 104,311 shares of company stock worth $8,792,624. Company insiders own 0.31% of the company’s stock.

A number of brokerages have recently weighed in on MDT. Morgan Stanley lifted their price target on Medtronic from $91.00 to $95.00 and gave the company an “equal weight” rating in a report on Monday, February 5th. Oppenheimer reissued a “buy” rating and set a $94.00 price objective on shares of Medtronic in a research report on Tuesday, February 20th. TheStreet cut Medtronic from a “b” rating to a “c+” rating in a research report on Tuesday, February 20th. Bank of America raised Medtronic from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. Finally, Argus raised Medtronic from a “hold” rating to a “buy” rating and boosted their price target for the stock from $81.27 to $95.00 in a research report on Tuesday, December 12th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the stock. Medtronic presently has an average rating of “Buy” and a consensus target price of $91.24.

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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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