Medtronic plc. (MDT) Position Cut by Markston International LLC

Markston International LLC reduced its position in Medtronic plc. (NYSE:MDT) by 6.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 208,144 shares of the medical technology company’s stock after selling 13,433 shares during the period. Medtronic comprises 1.7% of Markston International LLC’s holdings, making the stock its 15th largest position. Markston International LLC’s holdings in Medtronic were worth $16,187,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Medtronic by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 104,776,036 shares of the medical technology company’s stock valued at $9,298,872,000 after purchasing an additional 2,454,380 shares during the last quarter. BlackRock Inc. lifted its stake in Medtronic by 2.8% in the 2nd quarter. BlackRock Inc. now owns 89,512,229 shares of the medical technology company’s stock valued at $7,944,210,000 after purchasing an additional 2,476,853 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Medtronic by 3.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 58,646,070 shares of the medical technology company’s stock worth $4,724,526,000 after acquiring an additional 1,729,715 shares during the last quarter. Lazard Asset Management LLC lifted its position in Medtronic by 43.8% during the second quarter. Lazard Asset Management LLC now owns 19,669,866 shares of the medical technology company’s stock worth $1,745,699,000 after acquiring an additional 5,991,094 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Medtronic by 7.3% during the first quarter. Geode Capital Management LLC now owns 13,308,812 shares of the medical technology company’s stock worth $1,070,622,000 after acquiring an additional 906,581 shares during the last quarter. Institutional investors and hedge funds own 81.74% of the company’s stock.

MDT has been the subject of several research reports. Zacks Investment Research downgraded shares of Medtronic from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. Wells Fargo & Company downgraded shares of Medtronic from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $93.00 to $83.00 in a research report on Monday, October 9th. Stifel Nicolaus cut their price objective on shares of Medtronic from $91.00 to $83.00 and set a “hold” rating for the company in a research report on Monday, October 9th. SunTrust Banks restated a “buy” rating and set a $96.00 price objective on shares of Medtronic in a research report on Friday, November 3rd. Finally, Leerink Swann restated a “market perform” rating and set a $85.00 price objective (down from $88.00) on shares of Medtronic in a research report on Monday, October 9th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating to the company. Medtronic currently has an average rating of “Hold” and a consensus price target of $88.57.

In related news, EVP Bryan C. Hanson sold 16,000 shares of Medtronic stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $79.02, for a total value of $1,264,320.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold 48,000 shares of company stock worth $3,837,920 over the last three months. 0.31% of the stock is currently owned by insiders.

Medtronic plc. (MDT) opened at $81.54 on Friday. The stock has a market cap of $110,147.66, a P/E ratio of 22.34, a P/E/G ratio of 2.25 and a beta of 1.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.40 and a quick ratio of 2.05. Medtronic plc. has a one year low of $69.35 and a one year high of $89.72.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.08. The business had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $7.05 billion. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period last year, the firm posted $1.12 earnings per share. equities analysts anticipate that Medtronic plc. will post 4.77 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Friday, December 29th will be paid a $0.46 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.84 dividend on an annualized basis and a yield of 2.26%. Medtronic’s dividend payout ratio (DPR) is 50.41%.

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About Medtronic

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 (NYSE:MDT)

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