TIAA CREF Investment Management LLC lessened its holdings in shares of Medtronic plc. (NYSE:MDT) by 4.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,258,088 shares of the medical technology company’s stock after selling 182,911 shares during the quarter. TIAA CREF Investment Management LLC owned 0.31% of Medtronic worth $343,841,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of MDT. Quadrant Capital Group LLC boosted its holdings in Medtronic by 21.5% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock worth $114,000 after acquiring an additional 290 shares during the period. Blue Chip Partners Inc. purchased a new position in Medtronic in the 3rd quarter worth approximately $118,000. Barrett Asset Management LLC boosted its holdings in Medtronic by 856.0% in the 4th quarter. Barrett Asset Management LLC now owns 1,826 shares of the medical technology company’s stock worth $147,000 after acquiring an additional 1,635 shares during the period. Westwood Holdings Group Inc. purchased a new position in Medtronic in the 2nd quarter worth approximately $151,000. Finally, SevenBridge Financial Group LLC boosted its stake in shares of Medtronic by 76.2% during the 3rd quarter. SevenBridge Financial Group LLC now owns 2,197 shares of the medical technology company’s stock valued at $171,000 after buying an additional 950 shares during the last quarter. 80.79% of the stock is owned by hedge funds and other institutional investors.
In other Medtronic news, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $82.82, for a total value of $1,325,120.00. Following the sale, the executive vice president now directly owns 88,818 shares of the company’s stock, valued at $7,355,906.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Hooman Hakami sold 26,158 shares of the stock in a transaction on Friday, January 5th. The stock was sold at an average price of $85.00, for a total value of $2,223,430.00. The disclosure for this sale can be found here. Insiders have sold 145,163 shares of company stock worth $12,232,045 over the last 90 days. 0.31% of the stock is currently owned by company insiders.
Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.01. Medtronic had a return on equity of 12.65% and a net margin of 9.44%. The firm had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.20 billion. During the same period last year, the business posted $1.12 earnings per share. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. analysts predict that Medtronic plc. will post 4.75 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Friday, March 23rd will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Thursday, March 22nd. Medtronic’s dividend payout ratio (DPR) is presently 90.64%.
MDT has been the subject of several research analyst reports. SunTrust Banks set a $92.00 target price on Medtronic and gave the company a “buy” rating in a research note on Sunday, November 19th. Stifel Nicolaus increased their target price on Medtronic from $83.00 to $85.00 and gave the company a “hold” rating in a research note on Wednesday, November 22nd. Oppenheimer reiterated a “buy” rating and set a $94.00 target price on shares of Medtronic in a research note on Wednesday, November 22nd. Northland Securities reiterated a “hold” rating and set a $80.00 target price on shares of Medtronic in a research note on Wednesday, November 22nd. Finally, Zacks Investment Research upgraded Medtronic from a “sell” rating to a “hold” rating in a research note on Thursday, November 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $91.50.
Medtronic 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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