Medtronic PLC (MDT) Holdings Trimmed by Markston International LLC

Markston International LLC reduced its stake in shares of Medtronic PLC (NYSE:MDT) by 3.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,579 shares of the medical technology company’s stock after selling 6,233 shares during the period. Medtronic comprises approximately 1.9% of Markston International LLC’s holdings, making the stock its 12th biggest position. Markston International LLC’s holdings in Medtronic were worth $17,665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in MDT. Ballew Advisors Inc acquired a new position in shares of Medtronic in the 2nd quarter valued at about $100,000. Fort L.P. acquired a new position in shares of Medtronic in the 2nd quarter valued at about $121,000. Global Trust Asset Management LLC boosted its holdings in shares of Medtronic by 112.1% in the 2nd quarter. Global Trust Asset Management LLC now owns 1,523 shares of the medical technology company’s stock valued at $130,000 after buying an additional 805 shares during the period. Polaris Greystone Financial Group LLC boosted its holdings in shares of Medtronic by 255.1% in the 3rd quarter. Polaris Greystone Financial Group LLC now owns 1,321 shares of the medical technology company’s stock valued at $130,000 after buying an additional 949 shares during the period. Finally, Trustcore Financial Services LLC boosted its holdings in shares of Medtronic by 97.3% in the 2nd quarter. Trustcore Financial Services LLC now owns 1,760 shares of the medical technology company’s stock valued at $151,000 after buying an additional 868 shares during the period. 80.00% of the stock is owned by institutional investors.

In other Medtronic news, SVP Richard Kuntz sold 47,176 shares of the business’s stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $95.88, for a total transaction of $4,523,234.88. Following the sale, the senior vice president now directly owns 152,579 shares in the company, valued at approximately $14,629,274.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Geoffrey Martha sold 49,799 shares of the business’s stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $97.93, for a total transaction of $4,876,816.07. Following the sale, the executive vice president now owns 87,872 shares in the company, valued at $8,605,304.96. The disclosure for this sale can be found here. Insiders have sold a total of 268,678 shares of company stock worth $25,818,353 over the last 90 days. 0.28% of the stock is owned by insiders.

Several research analysts have recently commented on MDT shares. Needham & Company LLC raised shares of Medtronic from a “buy” rating to a “strong-buy” rating and lifted their price target for the company from $103.00 to $119.00 in a report on Monday, August 13th. Wells Fargo & Co lifted their price target on shares of Medtronic from $95.00 to $101.00 and gave the company a “market perform” rating in a report on Wednesday, August 22nd. Argus lifted their price target on shares of Medtronic from $95.00 to $108.00 and gave the company a “buy” rating in a report on Monday, August 27th. Leerink Swann lifted their price target on shares of Medtronic from $95.00 to $100.00 and gave the company a “market perform” rating in a report on Wednesday, August 22nd. Finally, Zacks Investment Research lowered shares of Medtronic from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $102.58.

Shares of NYSE:MDT opened at $94.36 on Friday. The stock has a market capitalization of $127.11 billion, a P/E ratio of 19.49, a PEG ratio of 2.50 and a beta of 0.94. Medtronic PLC has a fifty-two week low of $76.41 and a fifty-two week high of $100.15. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.06 and a current ratio of 2.46.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, August 21st. The medical technology company reported $1.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.06. The firm had revenue of $7.38 billion for the quarter, compared to the consensus estimate of $7.24 billion. Medtronic had a net margin of 10.56% and a return on equity of 12.98%. Medtronic’s quarterly revenue was down .1% compared to the same quarter last year. During the same period last year, the firm posted $1.12 EPS. On average, research analysts expect that Medtronic PLC will post 5.12 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, October 19th. Shareholders of record on Friday, September 28th were given a dividend of $0.50 per share. The ex-dividend date was Thursday, September 27th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.12%. Medtronic’s dividend payout ratio (DPR) is 41.93%.

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Medtronic Company Profile

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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