ProShare Advisors LLC Has $183.64 Million Stock Holdings in Medtronic PLC $MDT

ProShare Advisors LLC lessened its stake in shares of Medtronic PLC (NYSE:MDT) by 6.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,911,731 shares of the medical technology company’s stock after selling 141,728 shares during the period. ProShare Advisors LLC’s holdings in Medtronic were worth $183,641,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Curbstone Financial Management Corp grew its holdings in Medtronic by 1.8% during the fourth quarter. Curbstone Financial Management Corp now owns 5,594 shares of the medical technology company’s stock valued at $537,000 after purchasing an additional 100 shares during the last quarter. New England Capital Financial Advisors LLC grew its holdings in Medtronic by 7.8% during the fourth quarter. New England Capital Financial Advisors LLC now owns 1,403 shares of the medical technology company’s stock valued at $135,000 after purchasing an additional 101 shares during the last quarter. Baker Tilly Wealth Management LLC grew its holdings in Medtronic by 3.3% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 3,221 shares of the medical technology company’s stock valued at $309,000 after purchasing an additional 102 shares during the last quarter. Maseco LLP grew its holdings in Medtronic by 32.1% during the fourth quarter. Maseco LLP now owns 444 shares of the medical technology company’s stock valued at $43,000 after purchasing an additional 108 shares during the last quarter. Finally, Holistic Financial Partners grew its holdings in Medtronic by 3.0% during the third quarter. Holistic Financial Partners now owns 3,697 shares of the medical technology company’s stock valued at $352,000 after purchasing an additional 109 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 52,524 shares of Medtronic stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $97.71, for a total transaction of $5,132,120.04. Following the sale, the executive vice president owned 32,768 shares in the company, valued at $3,201,761.28. The trade was a 61.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is owned by corporate insiders.

Medtronic Stock Up 1.5%

MDT opened at $77.32 on Tuesday. Medtronic PLC has a fifty-two week low of $74.40 and a fifty-two week high of $106.33. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87. The firm’s fifty day moving average price is $84.45 and its two-hundred day moving average price is $93.52. The company has a market capitalization of $99.26 billion, a P/E ratio of 21.54, a P/E/G ratio of 1.81 and a beta of 0.62.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The firm had revenue of $9.02 billion for the quarter, compared to the consensus estimate of $8.89 billion. During the same quarter in the previous year, the company earned $1.38 earnings per share. The business’s revenue was up 5.8% compared to the same quarter last year. On average, analysts anticipate that Medtronic PLC will post 5.57 EPS for the current year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 17th. Shareholders of record on Friday, March 27th were paid a dividend of $0.71 per share. The ex-dividend date was Friday, March 27th. This represents a $2.84 dividend on an annualized basis and a yield of 3.7%. Medtronic’s payout ratio is currently 79.11%.

Wall Street Analysts Forecast Growth

MDT has been the topic of several research analyst reports. Wall Street Zen downgraded shares of Medtronic from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Daiwa Securities Group lowered their price objective on shares of Medtronic from $117.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. CICC Research initiated coverage on shares of Medtronic in a research note on Friday, January 30th. They issued an “outperform” rating on the stock. Weiss Ratings downgraded shares of Medtronic from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, April 21st. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Medtronic from $105.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 18th. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $107.80.

Medtronic Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).