Cliftonlarsonallen Wealth Advisors LLC Reduces Stake in Medtronic Inc. (MDT)
Cliftonlarsonallen Wealth Advisors LLC cut its position in Medtronic Inc. (NYSE:MDT) by 23.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,259 shares of the medical technology company’s stock after selling 3,085 shares during the period. Cliftonlarsonallen Wealth Advisors LLC’s holdings in Medtronic were worth $890,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of MDT. Wellington Management Group LLP raised its stake in Medtronic by 3.0% in the first quarter. Wellington Management Group LLP now owns 73,895,527 shares of the medical technology company’s stock worth $5,542,166,000 after buying an additional 2,176,380 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in Medtronic by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 36,200,845 shares of the medical technology company’s stock worth $2,715,063,000 after buying an additional 211,844 shares during the period. BlackRock Fund Advisors raised its stake in Medtronic by 2.8% in the first quarter. BlackRock Fund Advisors now owns 19,788,356 shares of the medical technology company’s stock worth $1,484,127,000 after buying an additional 535,352 shares during the period. BlackRock Group LTD raised its stake in Medtronic by 2.2% in the first quarter. BlackRock Group LTD now owns 12,578,229 shares of the medical technology company’s stock worth $943,366,000 after buying an additional 276,613 shares during the period. Finally, Geode Capital Management LLC raised its stake in Medtronic by 1.9% in the first quarter. Geode Capital Management LLC now owns 11,747,085 shares of the medical technology company’s stock worth $879,292,000 after buying an additional 220,466 shares during the period. Hedge funds and other institutional investors own 82.56% of the company’s stock.
Shares of Medtronic Inc. (NYSE:MDT) traded up 0.35% during trading on Monday, reaching $86.31. The company had a trading volume of 1,361,669 shares. Medtronic Inc. has a 1-year low of $63.98 and a 1-year high of $89.27. The stock has a market capitalization of $119.27 billion, a price-to-earnings ratio of 33.58 and a beta of 0.88. The company’s 50 day moving average is $87.02 and its 200-day moving average is $82.38.
Medtronic (NYSE:MDT) last issued its quarterly earnings data on Thursday, August 25th. The medical technology company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.02. The company earned $7.20 billion during the quarter, compared to the consensus estimate of $7.17 billion. Medtronic had a net margin of 12.70% and a return on equity of 12.06%. Medtronic’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.02 earnings per share. On average, equities research analysts anticipate that Medtronic Inc. will post $4.66 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Thursday, September 29th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Tuesday, September 27th. Medtronic’s dividend payout ratio (DPR) is 66.93%.
A number of research analysts have commented on the company. Credit Suisse Group AG reaffirmed a “buy” rating and set a $85.00 price target on shares of Medtronic in a research report on Tuesday, May 31st. Deutsche Bank AG reaffirmed a “buy” rating and set a $90.00 price target on shares of Medtronic in a research report on Wednesday, June 15th. Argus reaffirmed a “hold” rating on shares of Medtronic in a research report on Monday, June 20th. Zacks Investment Research raised Medtronic from a “sell” rating to a “hold” rating in a research report on Friday, May 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $93.00 price target (up previously from $90.00) on shares of Medtronic in a research report on Tuesday, June 7th. Six equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $90.12.
In other Medtronic news, EVP Gary Lee Ellis sold 35,495 shares of Medtronic stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $88.64, for a total value of $3,146,276.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Shirley A. Jackson sold 2,104 shares of Medtronic stock in a transaction on Wednesday, July 13th. The stock was sold at an average price of $88.64, for a total transaction of $186,498.56. Following the completion of the transaction, the director now directly owns 34,503 shares in the company, valued at $3,058,345.92. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.
Medtronic Company Profile
Medtronic plc (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.
Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic Inc. (NYSE:MDT).
Receive News & Ratings for Medtronic Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.