Texas Permanent School Fund decreased its position in Medtronic PLC (NYSE:MDT) by 3.8% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 384,615 shares of the medical technology company’s stock after selling 15,348 shares during the period. Texas Permanent School Fund’s holdings in Medtronic PLC were worth $34,135,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MDT. BlackRock Inc. lifted its stake in Medtronic PLC by 2,513.4% in the 1st quarter. BlackRock Inc. now owns 87,035,376 shares of the medical technology company’s stock valued at $7,011,571,000 after acquiring an additional 83,705,052 shares in the last quarter. Lazard Asset Management LLC lifted its stake in Medtronic PLC by 1,061.4% in the 1st 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 acquiring an additional 12,500,992 shares in the last quarter. Vanguard Group Inc. lifted its stake in Medtronic PLC by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 102,321,656 shares of the medical technology company’s stock valued at $8,243,034,000 after acquiring an additional 4,412,536 shares in the last quarter. Sanders Capital LLC lifted its stake in Medtronic PLC by 43.7% in the 2nd quarter. Sanders Capital LLC now owns 6,670,948 shares of the medical technology company’s stock valued at $651,800,000 after acquiring an additional 2,027,147 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Medtronic PLC by 18.9% in the 1st quarter. Wells Fargo & Company MN now owns 11,932,572 shares of the medical technology company’s stock valued at $961,288,000 after acquiring an additional 1,895,386 shares in the last quarter. Hedge funds and other institutional investors own 80.63% of the company’s stock.

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Medtronic PLC (MDT) opened at 79.70 on Monday. Medtronic PLC has a one year low of $69.35 and a one year high of $89.72. The firm has a 50-day moving average price of $82.04 and a 200-day moving average price of $83.67. The firm has a market capitalization of $107.96 billion, a price-to-earnings ratio of 26.83 and a beta of 1.03.

Medtronic PLC (NYSE:MDT) last issued its earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.04. The firm had revenue of $7.39 billion for the quarter, compared to analyst estimates of $7.44 billion. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The business’s revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.03 earnings per share. Analysts expect that Medtronic PLC will post $4.77 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, September 29th will be paid a $0.46 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.84 annualized dividend and a dividend yield of 2.31%. Medtronic PLC’s payout ratio is presently 61.95%.

In other Medtronic PLC news, EVP Bryan C. Hanson sold 12,000 shares of the business’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $88.57, for a total value of $1,062,840.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value 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 disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Several equities research analysts have commented on the company. Zacks Investment Research cut Medtronic PLC from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. BidaskClub cut Medtronic PLC from a “hold” rating to a “sell” rating in a research note on Saturday, August 26th. UBS AG reiterated an “overweight” rating on shares of Medtronic PLC in a research note on Thursday, August 24th. Jefferies Group LLC dropped their price objective on Medtronic PLC from $103.00 to $96.00 and set a “buy” rating on the stock in a research note on Wednesday, August 23rd. Finally, Barclays PLC dropped their price objective on Medtronic PLC from $94.00 to $92.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 23rd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Medtronic PLC currently has a consensus rating of “Hold” and a consensus price target of $88.78.

Medtronic PLC 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.

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

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