Bbva Compass Bancshares Inc. Raises Stake in Medtronic PLC (MDT)

Bbva Compass Bancshares Inc. lifted its holdings in shares of Medtronic PLC (NYSE:MDT) by 0.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 87,111 shares of the medical technology company’s stock after purchasing an additional 715 shares during the quarter. Bbva Compass Bancshares Inc.’s holdings in Medtronic were worth $8,569,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Point72 Asset Management L.P. raised its holdings in Medtronic by 11.1% in the second quarter. Point72 Asset Management L.P. now owns 823,622 shares of the medical technology company’s stock valued at $70,510,000 after acquiring an additional 82,423 shares in the last quarter. Affiance Financial LLC raised its holdings in Medtronic by 18.6% in the second quarter. Affiance Financial LLC now owns 8,080 shares of the medical technology company’s stock valued at $692,000 after acquiring an additional 1,268 shares in the last quarter. Royal London Asset Management Ltd. acquired a new stake in Medtronic in the second quarter valued at approximately $49,276,000. AdvisorNet Financial Inc raised its holdings in Medtronic by 11.2% in the second quarter. AdvisorNet Financial Inc now owns 39,991 shares of the medical technology company’s stock valued at $3,424,000 after acquiring an additional 4,038 shares in the last quarter. Finally, WINTON GROUP Ltd raised its holdings in Medtronic by 60.2% in the second quarter. WINTON GROUP Ltd now owns 99,746 shares of the medical technology company’s stock valued at $8,539,000 after acquiring an additional 37,482 shares in the last quarter. 80.00% of the stock is currently owned by institutional investors and hedge funds.

Shares of Medtronic stock opened at $91.61 on Tuesday. The company has a market capitalization of $123.46 billion, a price-to-earnings ratio of 19.21, a P/E/G ratio of 2.43 and a beta of 0.94. Medtronic PLC has a 52 week low of $76.41 and a 52 week high of $100.15. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.06 and a current ratio of 2.46.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 21st. The medical technology company reported $1.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.06. The company had revenue of $7.38 billion for the quarter, compared to analyst estimates of $7.24 billion. Medtronic had a net margin of 10.56% and a return on equity of 12.98%. The firm’s revenue was down .1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.12 earnings per share. Analysts anticipate that Medtronic PLC will post 5.12 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, October 19th. Shareholders of record on Friday, September 28th were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $2.00 annualized dividend and a yield of 2.18%. Medtronic’s dividend payout ratio is currently 41.93%.

MDT has been the topic of several analyst reports. SunTrust Banks raised their target price on shares of Medtronic to $110.00 and gave the company a “buy” rating in a report on Friday, August 24th. Citigroup raised their target price on shares of Medtronic from $104.00 to $109.00 and gave the company a “buy” rating in a report on Friday, August 24th. Bank of America raised their target price on shares of Medtronic from $98.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, August 22nd. Oppenheimer reaffirmed a “buy” rating and issued a $104.00 target price on shares of Medtronic in a report on Tuesday, August 21st. Finally, Argus raised their target price on shares of Medtronic from $95.00 to $108.00 and gave the company a “buy” rating in a report on Monday, August 27th. Seven investment 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 stock. The stock has an average rating of “Buy” and a consensus target price of $102.58.

In other Medtronic news, EVP Michael J. Coyle sold 145,544 shares of the stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $95.50, for a total value of $13,899,452.00. Following the transaction, the executive vice president now directly owns 190,680 shares in the company, valued at $18,209,940. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Richard Kuntz sold 47,176 shares of the firm’s stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $95.88, for a total transaction of $4,523,234.88. Following the transaction, the senior vice president now owns 152,579 shares in the company, valued at $14,629,274.52. The disclosure for this sale can be found here. Insiders sold 268,678 shares of company stock worth $25,818,353 over the last quarter. 0.28% of the stock is currently owned by insiders.

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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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