Medtronic PLC (MDT) Shares Bought by TIAA CREF Investment Management LLC
TIAA CREF Investment Management LLC grew its position in shares of Medtronic PLC (NYSE:MDT) by 9.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,037,638 shares of the medical technology company’s stock after purchasing an additional 418,230 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 0.37% of Medtronic PLC worth $447,090,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Parkside Financial Bank & Trust boosted its stake in shares of Medtronic PLC by 22.4% during the second quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock valued at $102,000 after purchasing an additional 210 shares in the last quarter. BDO Wealth Advisors LLC acquired a new stake in shares of Medtronic PLC during the second quarter valued at about $103,000. Motco boosted its stake in shares of Medtronic PLC by 8.7% during the second quarter. Motco now owns 1,239 shares of the medical technology company’s stock valued at $110,000 after purchasing an additional 99 shares in the last quarter. Israel Discount Bank of New York acquired a new stake in shares of Medtronic PLC during the first quarter valued at about $117,000. Finally, Birch Hill Investment Advisors LLC acquired a new stake in shares of Medtronic PLC during the first quarter valued at about $120,000. 80.81% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Omar Ishrak sold 140,407 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the completion of the sale, the chief executive officer now owns 668,503 shares in the company, valued at $54,569,899.89. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Bryan C. Hanson sold 16,000 shares of Medtronic PLC stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $78.03, for a total value of $1,248,480.00. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.
A number of analysts have recently commented on MDT shares. Wells Fargo & Company reissued an “outperform” rating on shares of Medtronic PLC in a research note on Wednesday, July 12th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of Medtronic PLC in a research note on Tuesday, July 18th. BidaskClub lowered Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Deutsche Bank AG set a $96.00 price objective on Medtronic PLC and gave the stock a “buy” rating in a research note on Monday, July 31st. Finally, Zacks Investment Research lowered Medtronic PLC from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the company. Medtronic PLC currently has an average rating of “Hold” and a consensus target price of $87.88.
Shares of Medtronic PLC (NYSE MDT) opened at $78.43 on Friday. The firm has a market cap of $105.48 billion, a P/E ratio of 16.60, a P/E/G ratio of 2.16 and a beta of 1.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.64 and a quick ratio of 1.40.
Medtronic PLC (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 22nd. The medical technology company reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.04. The firm had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.44 billion. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The company’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.03 earnings per share. equities analysts forecast that Medtronic PLC will post 4.64 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 20th. Stockholders of record on Friday, September 29th were issued a dividend of $0.46 per share. The ex-dividend date was Thursday, September 28th. This represents a $1.84 annualized dividend and a dividend yield of 2.35%. Medtronic PLC’s dividend payout ratio is 61.95%.
Medtronic PLC Company 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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