Public Employees Retirement Association of Colorado lessened its position in Medtronic PLC (NYSE:MDT) by 0.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,763,905 shares of the medical technology company’s stock after selling 1,986 shares during the period. Medtronic comprises 1.2% of Public Employees Retirement Association of Colorado’s portfolio, making the stock its 16th largest holding. Public Employees Retirement Association of Colorado owned approximately 0.13% of Medtronic worth $191,595,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the company. Nuveen Asset Management LLC increased its position in Medtronic by 12,846.1% during the second quarter. Nuveen Asset Management LLC now owns 8,157,866 shares of the medical technology company’s stock worth $794,495,000 after purchasing an additional 8,094,852 shares during the last quarter. Longview Partners Guernsey LTD raised its holdings in shares of Medtronic by 46.0% during the second quarter. Longview Partners Guernsey LTD now owns 8,843,721 shares of the medical technology company’s stock worth $861,290,000 after purchasing an additional 2,787,443 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Medtronic during the second quarter worth $214,895,000. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Medtronic by 9.4% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,499,865 shares of the medical technology company’s stock worth $1,412,142,000 after purchasing an additional 1,251,830 shares during the period. Finally, Boston Partners raised its holdings in shares of Medtronic by 14.9% during the second quarter. Boston Partners now owns 9,655,784 shares of the medical technology company’s stock worth $940,555,000 after purchasing an additional 1,250,545 shares during the period. 81.18% of the stock is owned by institutional investors and hedge funds.
In other Medtronic news, SVP Richard Kuntz sold 21,425 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $107.51, for a total value of $2,303,401.75. Following the completion of the transaction, the senior vice president now directly owns 78,916 shares in the company, valued at $8,484,259.16. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Robert John White sold 52,165 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $109.33, for a total transaction of $5,703,199.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 156,467 shares of company stock valued at $16,900,132. Insiders own 0.28% of the company’s stock.
A number of analysts have weighed in on MDT shares. BMO Capital Markets increased their target price on shares of Medtronic from $107.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Barclays increased their target price on shares of Medtronic from $110.00 to $117.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Royal Bank of Canada set a $110.00 target price on shares of Medtronic and gave the company a “buy” rating in a research report on Friday, August 16th. UBS Group increased their target price on shares of Medtronic from $112.00 to $122.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Finally, Northland Securities reiterated a “hold” rating and issued a $100.00 target price on shares of Medtronic in a research report on Wednesday, August 21st. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $114.33.
Shares of NYSE:MDT traded up $0.23 during trading hours on Friday, hitting $107.03. 2,260,267 shares of the company’s stock traded hands, compared to its average volume of 5,086,191. Medtronic PLC has a 52 week low of $81.66 and a 52 week high of $112.05. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.20 and a current ratio of 2.67. The company’s fifty day simple moving average is $107.65 and its two-hundred day simple moving average is $100.69. The company has a market cap of $141.59 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 2.59 and a beta of 0.62.
Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.08. Medtronic had a net margin of 14.41% and a return on equity of 14.36%. The company had revenue of $7.49 billion during the quarter, compared to analyst estimates of $7.40 billion. During the same quarter last year, the firm posted $1.17 EPS. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, analysts anticipate that Medtronic PLC will post 5.56 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, September 27th were given a dividend of $0.54 per share. The ex-dividend date was Thursday, September 26th. This represents a $2.16 annualized dividend and a dividend yield of 2.02%. Medtronic’s dividend payout ratio (DPR) is 41.38%.
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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