Pittenger & Anderson Inc. Cuts Holdings in Medtronic PLC (MDT)

Pittenger & Anderson Inc. lessened its holdings in shares of Medtronic PLC (NYSE:MDT) by 0.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,712 shares of the medical technology company’s stock after selling 3 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Medtronic PLC were worth $2,193,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wesbanco Bank Inc. lifted its holdings in shares of Medtronic PLC by 3.1% in the second quarter. Wesbanco Bank Inc. now owns 10,170 shares of the medical technology company’s stock worth $903,000 after buying an additional 308 shares in the last quarter. Dupont Capital Management Corp lifted its holdings in shares of Medtronic PLC by 28.8% in the second quarter. Dupont Capital Management Corp now owns 74,052 shares of the medical technology company’s stock worth $6,572,000 after buying an additional 16,562 shares in the last quarter. RMB Capital Management LLC purchased a new stake in shares of Medtronic PLC in the first quarter worth about $4,576,000. Chilton Investment Co. LLC lifted its holdings in shares of Medtronic PLC by 6.1% in the second quarter. Chilton Investment Co. LLC now owns 26,842 shares of the medical technology company’s stock worth $2,382,000 after buying an additional 1,538 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in shares of Medtronic PLC by 1,061.4% in the first quarter. Lazard Asset Management LLC now owns 13,678,772 shares of the medical technology company’s stock worth $1,101,960,000 after buying an additional 12,500,992 shares in the last quarter. Hedge funds and other institutional investors own 80.81% of the company’s stock.

Medtronic PLC (NYSE:MDT) opened at 80.53 on Tuesday. The stock has a market capitalization of $109.09 billion, a P/E ratio of 27.11 and a beta of 1.01. Medtronic PLC has a 1-year low of $69.35 and a 1-year high of $89.72. The firm’s 50 day moving average is $79.32 and its 200 day moving average is $83.14.

Medtronic PLC (NYSE:MDT) last issued its quarterly earnings data on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.04. The business had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.44 billion. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.03 EPS. On average, equities research analysts anticipate that Medtronic PLC will post $4.63 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 20th. Stockholders of record on Friday, September 29th were issued a dividend of $0.46 per share. The ex-dividend date was Thursday, September 28th. This represents a $1.84 annualized dividend and a dividend yield of 2.28%. Medtronic PLC’s dividend payout ratio (DPR) is 61.95%.

A number of equities research analysts have recently issued reports on the stock. Jefferies Group LLC reissued a “buy” rating and issued a $96.00 price target on shares of Medtronic PLC in a report on Thursday, September 28th. William Blair reissued an “outperform” rating on shares of Medtronic PLC in a report on Thursday, July 6th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $96.00 price target on shares of Medtronic PLC in a report on Monday, October 2nd. Zacks Investment Research downgraded shares of Medtronic PLC from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Finally, BidaskClub downgraded shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $87.88.

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In related news, CEO Omar Ishrak sold 140,407 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the sale, the chief executive officer now owns 668,503 shares in the company, valued at approximately $54,569,899.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction on Monday, October 16th. The shares were sold at an average price of $78.03, for a total value of $1,248,480.00. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Medtronic PLC 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.

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

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