Davis R M Inc. cut its stake in shares of Medtronic PLC (NYSE:MDT) by 0.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 342,249 shares of the medical technology company’s stock after selling 892 shares during the quarter. Davis R M Inc.’s holdings in Medtronic were worth $38,828,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MDT. Private Ocean LLC lifted its holdings in Medtronic by 188.5% during the 3rd quarter. Private Ocean LLC now owns 225 shares of the medical technology company’s stock worth $25,000 after buying an additional 147 shares during the period. River & Mercantile Asset Management LLP acquired a new position in Medtronic during the 2nd quarter worth about $26,000. Manchester Financial Inc. acquired a new position in Medtronic during the 4th quarter worth about $28,000. Lenox Wealth Advisors LLC lifted its holdings in Medtronic by 393.3% during the 3rd quarter. Lenox Wealth Advisors LLC now owns 296 shares of the medical technology company’s stock worth $32,000 after buying an additional 236 shares during the period. Finally, Gables Capital Management Inc. lifted its holdings in Medtronic by 904.8% during the 3rd quarter. Gables Capital Management Inc. now owns 1,246 shares of the medical technology company’s stock worth $34,000 after buying an additional 1,122 shares during the period. 80.61% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP Michael J. Coyle sold 2,102 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $109.77, for a total value of $230,736.54. Following the transaction, the executive vice president now owns 189,162 shares in the company, valued at $20,764,312.74. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard H. Anderson acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was purchased at an average price of $111.13 per share, for a total transaction of $555,650.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 106,433 shares of company stock valued at $11,704,539. 0.28% of the stock is currently owned by corporate insiders.

MDT traded down $0.12 during midday trading on Thursday, reaching $120.97. 2,507,588 shares of the company were exchanged, compared to its average volume of 3,291,602. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.28 and a current ratio of 2.77. The company’s fifty day moving average price is $114.94 and its 200 day moving average price is $108.42. The company has a market cap of $161.27 billion, a price-to-earnings ratio of 34.96, a price-to-earnings-growth ratio of 2.92 and a beta of 0.60. Medtronic PLC has a one year low of $82.77 and a one year high of $122.15.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 19th. The medical technology company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.03. The company had revenue of $7.71 billion during the quarter, compared to analyst estimates of $7.66 billion. Medtronic had a return on equity of 14.52% and a net margin of 15.11%. Medtronic’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.22 earnings per share. As a group, sell-side analysts anticipate that Medtronic PLC will post 5.6 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, December 27th were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.79%. The ex-dividend date was Thursday, December 26th. Medtronic’s dividend payout ratio is presently 41.38%.

A number of research analysts have recently issued reports on the company. UBS Group boosted their price objective on Medtronic from $127.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. SunTrust Banks assumed coverage on Medtronic in a research note on Tuesday, January 7th. They issued a “buy” rating and a $130.00 price objective on the stock. Morgan Stanley boosted their price objective on Medtronic from $116.00 to $123.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Deutsche Bank assumed coverage on Medtronic in a research note on Friday, January 3rd. They issued a “buy” rating and a $99.00 price objective on the stock. Finally, Piper Jaffray Companies boosted their price objective on Medtronic to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $120.59.

Medtronic Company Profile

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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