United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Sells 30,572 Shares of Medtronic PLC (MDT)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund reduced its stake in shares of Medtronic PLC (NYSE:MDT) by 6.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 462,166 shares of the medical technology company’s stock after selling 30,572 shares during the quarter. Medtronic makes up about 5.5% of United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings, making the stock its 3rd biggest holding. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings in Medtronic were worth $45,463,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of MDT. Chicago Partners Investment Group LLC grew its position in shares of Medtronic by 24.4% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 2,699 shares of the medical technology company’s stock worth $231,000 after buying an additional 530 shares during the period. Strategic Financial Services Inc grew its position in shares of Medtronic by 1.0% in the 2nd quarter. Strategic Financial Services Inc now owns 57,707 shares of the medical technology company’s stock worth $4,940,000 after buying an additional 554 shares during the period. D.B. Root & Company LLC grew its position in shares of Medtronic by 4.4% in the 2nd quarter. D.B. Root & Company LLC now owns 13,515 shares of the medical technology company’s stock worth $1,157,000 after buying an additional 564 shares during the period. Somerset Trust Co grew its position in shares of Medtronic by 1.1% in the 3rd quarter. Somerset Trust Co now owns 53,711 shares of the medical technology company’s stock worth $5,283,000 after buying an additional 565 shares during the period. Finally, Berkshire Asset Management LLC PA grew its position in shares of Medtronic by 0.7% in the 3rd quarter. Berkshire Asset Management LLC PA now owns 83,618 shares of the medical technology company’s stock worth $8,226,000 after buying an additional 597 shares during the period. 80.08% of the stock is currently owned by institutional investors and hedge funds.

MDT opened at $95.92 on Friday. The company has a current ratio of 2.46, a quick ratio of 2.06 and a debt-to-equity ratio of 0.47. The stock has a market cap of $131.39 billion, a price-to-earnings ratio of 20.14, a P/E/G ratio of 2.58 and a beta of 0.92. Medtronic PLC has a 52-week low of $76.41 and a 52-week high of $100.15.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, August 21st. The medical technology company reported $1.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.06. The business had revenue of $7.38 billion for the quarter, compared to analysts’ expectations of $7.24 billion. Medtronic had a net margin of 10.56% and a return on equity of 12.98%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.12 EPS. As a group, analysts expect that Medtronic PLC will post 5.12 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 19th. Shareholders of record on Friday, September 28th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.09%. The ex-dividend date is Thursday, September 27th. Medtronic’s dividend payout ratio is currently 41.93%.

A number of analysts have recently weighed in on the stock. Oppenheimer reaffirmed a “buy” rating on shares of Medtronic in a research report on Friday, September 21st. BMO Capital Markets upped their price target on shares of Medtronic from $94.00 to $104.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 22nd. Sanford C. Bernstein began coverage on shares of Medtronic in a research note on Wednesday, June 27th. They issued a “market perform” rating and a $88.00 price target on the stock. Royal Bank of Canada upped their price target on shares of Medtronic to $104.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 22nd. Finally, Argus upped their price target on shares of Medtronic from $108.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, October 8th. Eight equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $102.08.

In other Medtronic news, EVP Geoffrey Martha sold 49,799 shares of the company’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $97.93, for a total transaction of $4,876,816.07. Following the transaction, the executive vice president now owns 87,872 shares in the company, valued at approximately $8,605,304.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael J. Coyle sold 145,544 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $95.50, for a total transaction of $13,899,452.00. Following the transaction, the executive vice president now owns 190,680 shares in the company, valued at approximately $18,209,940. The disclosure for this sale can be found here. Insiders have sold a total of 268,678 shares of company stock worth $25,818,353 in the last 90 days. Company insiders own 0.28% of the company’s stock.

About Medtronic

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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