State Street Corp lowered its stake in Medtronic PLC (NYSE:MDT) by 1.5% during the first quarter, Holdings Channel reports. The firm owned 63,088,774 shares of the medical technology company’s stock after selling 952,126 shares during the period. State Street Corp’s holdings in Medtronic PLC were worth $5,084,142,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MDT. BlackRock Inc. raised its stake in shares of Medtronic PLC by 2,513.4% in the first quarter. BlackRock Inc. now owns 87,035,376 shares of the medical technology company’s stock valued at $7,011,571,000 after buying an additional 83,705,052 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of Medtronic PLC by 1,061.4% in the first quarter. Lazard Asset Management LLC now owns 13,678,772 shares of the medical technology company’s stock valued at $1,101,960,000 after buying an additional 12,500,992 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Medtronic PLC by 4.5% in the first quarter. Vanguard Group Inc. now owns 102,321,656 shares of the medical technology company’s stock valued at $8,243,034,000 after buying an additional 4,412,536 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Medtronic PLC by 18.9% in the first quarter. Wells Fargo & Company MN now owns 11,932,572 shares of the medical technology company’s stock valued at $961,288,000 after buying an additional 1,895,386 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Medtronic PLC by 3.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 58,646,070 shares of the medical technology company’s stock valued at $4,724,526,000 after buying an additional 1,729,715 shares in the last quarter. Institutional investors and hedge funds own 83.36% of the company’s stock.

Medtronic PLC (NYSE:MDT) traded down 0.6001% during trading on Thursday, reaching $83.4462. 772,761 shares of the company’s stock were exchanged. Medtronic PLC has a 12-month low of $69.35 and a 12-month high of $89.72. The company has a market cap of $113.41 billion, a P/E ratio of 28.8741 and a beta of 1.02. The stock’s 50-day moving average is $86.49 and its 200-day moving average is $82.81.

Medtronic PLC (NYSE:MDT) last released its quarterly earnings data on Thursday, May 25th. The medical technology company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.02. The firm had revenue of $7.92 billion for the quarter, compared to analysts’ expectations of $7.86 billion. Medtronic PLC had a net margin of 13.56% and a return on equity of 12.72%. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.27 earnings per share. Analysts predict that Medtronic PLC will post $4.81 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $1.84 annualized dividend and a dividend yield of 2.19%. This is a boost from Medtronic PLC’s previous quarterly dividend of $0.43. Medtronic PLC’s dividend payout ratio (DPR) is presently 63.67%.

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Several analysts have commented on MDT shares. Evercore ISI lifted their price objective on shares of Medtronic PLC from $88.00 to $88.50 and gave the stock an “outperform” rating in a research report on Wednesday, April 19th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Medtronic PLC in a research report on Tuesday, April 18th. Goldman Sachs Group, Inc. (The) started coverage on shares of Medtronic PLC in a research report on Tuesday, May 16th. They issued a “neutral” rating and a $87.00 price objective on the stock. Zacks Investment Research lowered shares of Medtronic PLC from a “hold” rating to a “sell” rating in a research report on Tuesday, May 23rd. Finally, BMO Capital Markets lifted their price objective on shares of Medtronic PLC from $87.00 to $94.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 30th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $89.84.

In related news, Director Richard H. Anderson acquired 5,600 shares of Medtronic PLC stock in a transaction dated Wednesday, June 21st. The shares were purchased at an average price of $88.90 per share, for a total transaction of $497,840.00. Following the completion of the transaction, the director now directly owns 71,910 shares in the company, valued at approximately $6,392,799. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Bryan C. Hanson sold 12,000 shares of Medtronic PLC stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $88.57, for a total transaction of $1,062,840.00. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

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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Institutional Ownership by Quarter for Medtronic PLC (NYSE:MDT)

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