Medtronic plc. (MDT) Shares Bought by Caisse DE Depot ET Placement DU Quebec
Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Medtronic plc. (NYSE:MDT) by 0.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,856,972 shares of the medical technology company’s stock after purchasing an additional 11,600 shares during the period. Medtronic comprises approximately 1.4% of Caisse DE Depot ET Placement DU Quebec’s holdings, making the stock its 20th largest position. Caisse DE Depot ET Placement DU Quebec’s holdings in Medtronic were worth $613,608,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in MDT. Vanguard Group Inc. grew its position in Medtronic by 2.4% in the second quarter. Vanguard Group Inc. now owns 104,776,036 shares of the medical technology company’s stock worth $9,298,872,000 after acquiring an additional 2,454,380 shares in the last quarter. BlackRock Inc. grew its position in Medtronic by 2.8% in the second quarter. BlackRock Inc. now owns 89,512,229 shares of the medical technology company’s stock worth $7,944,210,000 after acquiring an additional 2,476,853 shares in the last quarter. Artisan Partners Limited Partnership grew its position in Medtronic by 1.1% in the third quarter. Artisan Partners Limited Partnership now owns 23,853,034 shares of the medical technology company’s stock worth $1,855,050,000 after acquiring an additional 269,814 shares in the last quarter. Lazard Asset Management LLC grew its position in Medtronic by 43.8% in the second quarter. Lazard Asset Management LLC now owns 19,669,866 shares of the medical technology company’s stock worth $1,745,699,000 after acquiring an additional 5,991,094 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in Medtronic by 1.4% in the third quarter. Wells Fargo & Company MN now owns 12,378,331 shares of the medical technology company’s stock worth $962,664,000 after acquiring an additional 165,149 shares in the last quarter. 81.72% of the stock is currently owned by hedge funds and other institutional investors.
MDT has been the subject of several recent research reports. Zacks Investment Research downgraded shares of Medtronic from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. Wells Fargo & Co downgraded shares of Medtronic from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $93.00 to $83.00 in a research report on Monday, October 9th. Stifel Nicolaus decreased their target price on shares of Medtronic from $91.00 to $83.00 and set a “hold” rating for the company in a research report on Monday, October 9th. SunTrust Banks reissued a “buy” rating and issued a $96.00 target price on shares of Medtronic in a research report on Friday, November 3rd. Finally, Leerink Swann reissued a “market perform” rating and issued a $85.00 target price (down from $88.00) on shares of Medtronic in a research report on Monday, October 9th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $89.65.
In related news, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $79.02, for a total transaction of $1,264,320.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 48,000 shares of company stock valued at $3,837,920. 0.31% of the stock is owned by insiders.
Shares of Medtronic plc. (MDT) opened at $85.54 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.05 and a current ratio of 2.40. The stock has a market cap of $113,860.00, a price-to-earnings ratio of 23.50, a P/E/G ratio of 2.31 and a beta of 0.99. Medtronic plc. has a 1-year low of $71.11 and a 1-year high of $89.72.
Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.08. The business had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $7.05 billion. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. Medtronic’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.12 EPS. analysts anticipate that Medtronic plc. will post 4.77 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Friday, December 29th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Thursday, December 28th. Medtronic’s dividend payout ratio is currently 50.55%.
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Medtronic Public Limited Company (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.
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