First Merchants Corp lifted its holdings in Medtronic PLC (NYSE:MDT) by 12.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,577 shares of the medical technology company’s stock after acquiring an additional 4,083 shares during the period. First Merchants Corp’s holdings in Medtronic were worth $2,922,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Hudock Capital Group LLC increased its position in Medtronic by 0.5% in the 2nd quarter. Hudock Capital Group LLC now owns 2,195 shares of the medical technology company’s stock valued at $194,000 after buying an additional 11 shares in the last quarter. Triangle Securities Wealth Management increased its position in Medtronic by 0.3% in the 2nd quarter. Triangle Securities Wealth Management now owns 4,396 shares of the medical technology company’s stock valued at $390,000 after buying an additional 15 shares in the last quarter. IFC Holdings Incorporated FL increased its position in Medtronic by 0.3% in the 2nd quarter. IFC Holdings Incorporated FL now owns 5,673 shares of the medical technology company’s stock valued at $501,000 after buying an additional 17 shares in the last quarter. Arcus Capital Partners LLC boosted its stake in Medtronic by 0.8% during the 2nd quarter. Arcus Capital Partners LLC now owns 3,249 shares of the medical technology company’s stock valued at $288,000 after purchasing an additional 25 shares during the last quarter. Finally, Guardian Life Insurance Co. of America boosted its stake in Medtronic by 0.6% during the 1st quarter. Guardian Life Insurance Co. of America now owns 5,288 shares of the medical technology company’s stock valued at $426,000 after purchasing an additional 29 shares during the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have issued reports on MDT. Oppenheimer reiterated a “buy” rating and set a $92.00 price target on shares of Medtronic in a research note on Tuesday, August 22nd. BMO Capital Markets lifted their price target on Medtronic to $94.00 and gave the company an “outperform” rating in a research note on Tuesday. Argus upgraded Medtronic from a “hold” rating to a “buy” rating and lifted their price target for the company from $81.27 to $95.00 in a research note on Tuesday. They noted that the move was a valuation call. SunTrust Banks reiterated a “buy” rating and set a $96.00 price target on shares of Medtronic in a research note on Friday, November 3rd. Finally, Stifel Nicolaus lifted their price target on Medtronic from $83.00 to $85.00 and gave the company a “hold” rating in a research note on Wednesday, November 22nd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $88.57.

In other Medtronic news, CEO Omar Ishrak sold 140,407 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the sale, the chief executive officer now owns 668,503 shares of the company’s stock, valued at approximately $54,569,899.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Bryan C. Hanson sold 16,000 shares of the business’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $78.03, for a total transaction of $1,248,480.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 172,407 shares of company stock worth $13,974,223. 0.31% of the stock is owned by company insiders.

Medtronic PLC (MDT) traded up $0.20 during trading on Tuesday, reaching $81.27. The company had a trading volume of 3,501,300 shares, compared to its average volume of 4,952,796. Medtronic PLC has a fifty-two week low of $69.35 and a fifty-two week high of $89.72. The company has a current ratio of 2.40, a quick ratio of 2.05 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $110,000.00, a P/E ratio of 17.47, a price-to-earnings-growth ratio of 2.24 and a beta of 1.00.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.99 by $0.08. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The business had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter in the prior year, the business earned $1.12 earnings per share. Medtronic’s revenue for the quarter was down 4.0% on a year-over-year basis. equities 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 paid a $0.46 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.84 annualized dividend and a yield of 2.26%. Medtronic’s payout ratio is 50.55%.

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Medtronic Profile

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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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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