Medtronic PLC (MDT) Shares Sold by Advisor Partners LLC
Advisor Partners LLC cut its stake in Medtronic PLC (NYSE:MDT) by 5.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,599 shares of the medical technology company’s stock after selling 815 shares during the period. Advisor Partners LLC owned approximately 1,077.74% of Medtronic worth $1,135,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in MDT. Parkside Financial Bank & Trust raised its holdings in Medtronic by 22.4% in the second quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock valued at $102,000 after buying an additional 210 shares during the period. BDO Wealth Advisors LLC purchased a new position in Medtronic in the second quarter valued at approximately $103,000. Motco raised its holdings in Medtronic by 8.7% in the second quarter. Motco now owns 1,239 shares of the medical technology company’s stock valued at $110,000 after buying an additional 99 shares during the period. Farmers National Bank purchased a new position in Medtronic in the first quarter valued at approximately $121,000. Finally, Israel Discount Bank of New York purchased a new position in Medtronic in the first quarter valued at approximately $117,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.
Shares of Medtronic PLC (MDT) opened at $83.50 on Friday. The company has a quick ratio of 2.05, a current ratio of 2.40 and a debt-to-equity ratio of 0.50. The stock has a market cap of $110,756.73, a price-to-earnings ratio of 17.64, a P/E/G ratio of 2.26 and a beta of 1.00. Medtronic PLC has a 12 month low of $69.35 and a 12 month high of $89.72.
Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. The business had revenue of $7.05 billion during the quarter, compared to analyst estimates of $7.05 billion. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The business’s revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.12 earnings per share. analysts expect that Medtronic PLC will post 4.77 EPS for the current year.
The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.20%. Medtronic’s dividend payout ratio (DPR) is presently 50.41%.
Several research analysts recently commented on MDT shares. Zacks Investment Research lowered shares of Medtronic from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. Wells Fargo & Company lowered shares of Medtronic from an “outperform” rating to a “market perform” rating and cut their price target for the company from $93.00 to $83.00 in a report on Monday, October 9th. Stifel Nicolaus cut their price target on shares of Medtronic from $91.00 to $83.00 and set a “hold” rating on the stock in a report on Monday, October 9th. SunTrust Banks restated a “buy” rating and issued a $96.00 price target on shares of Medtronic in a report on Friday, November 3rd. Finally, Leerink Swann reiterated a “market perform” rating and set a $85.00 price objective (down previously from $88.00) on shares of Medtronic in a research note on Monday, October 9th. 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 stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $88.57.
In related news, EVP Bryan C. Hanson sold 16,000 shares of Medtronic stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.31% of the stock is currently owned by insiders.
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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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