Private Advisor Group LLC Has $3.07 Million Position in Medtronic PLC (MDT)

Private Advisor Group LLC lifted its position in Medtronic PLC (NYSE:MDT) by 18.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,220 shares of the medical technology company’s stock after purchasing an additional 4,939 shares during the quarter. Private Advisor Group LLC’s holdings in Medtronic were worth $3,071,000 at the end of the most recent reporting period.

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

NYSE MDT opened at $94.36 on Friday. The company has a quick ratio of 2.06, a current ratio of 2.46 and a debt-to-equity ratio of 0.47. Medtronic PLC has a one year low of $76.41 and a one year high of $100.15. The company has a market capitalization of $127.11 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 2.50 and a beta of 0.94.

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

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 19th. Stockholders of record on Friday, September 28th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Thursday, September 27th. Medtronic’s payout ratio is 41.93%.

In other Medtronic news, Director Richard H. Anderson acquired 2,600 shares of the stock in a transaction dated Thursday, August 23rd. The stock was acquired at an average price of $95.88 per share, with a total value of $249,288.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Richard Kuntz sold 47,176 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now directly owns 152,579 shares of the company’s stock, valued at approximately $14,629,274.52. The disclosure for this sale can be found here. In the last three months, insiders sold 268,678 shares of company stock valued at $25,818,353. Insiders own 0.28% of the company’s stock.

Several brokerages have weighed in on MDT. Royal Bank of Canada increased their target price on shares of Medtronic to $109.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 3rd. Oppenheimer reaffirmed a “buy” rating on shares of Medtronic in a research note on Friday, September 21st. Argus increased their target price on shares of Medtronic from $108.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, October 8th. ValuEngine raised shares of Medtronic from a “hold” rating to a “buy” rating in a research note on Friday, September 7th. Finally, Zacks Investment Research raised shares of Medtronic from a “sell” rating to a “hold” rating in a research note on Thursday, August 23rd. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $102.58.

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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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