Manning & Napier Advisors LLC Has $411.33 Million Position in Medtronic plc. (MDT)

Manning & Napier Advisors LLC increased its stake in Medtronic plc. (NYSE:MDT) by 1.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,289,068 shares of the medical technology company’s stock after acquiring an additional 90,922 shares during the period. Medtronic comprises approximately 3.5% of Manning & Napier Advisors LLC’s portfolio, making the stock its largest position. Manning & Napier Advisors LLC owned about 0.39% of Medtronic worth $411,329,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in MDT. Parkside Financial Bank & Trust lifted its stake in Medtronic by 22.4% in the second quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock worth $102,000 after purchasing an additional 210 shares during the last quarter. BDO Wealth Advisors LLC bought a new stake in Medtronic in the second quarter worth $103,000. Motco lifted its stake in Medtronic by 8.7% in the second quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after purchasing an additional 99 shares during the last quarter. Farmers National Bank bought a new stake in Medtronic in the first quarter worth $121,000. Finally, Blue Chip Partners Inc. bought a new stake in Medtronic in the third quarter worth $118,000. Institutional investors own 81.74% of the company’s stock.

In other news, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $79.02, for a total transaction of $1,264,320.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 48,000 shares of company stock valued at $3,837,920. Insiders own 0.31% of the company’s stock.

Several research firms have weighed in on MDT. Jefferies Group reissued a “buy” rating and issued a $96.00 price target on shares of Medtronic in a research note on Thursday, September 28th. SunTrust Banks reissued a “buy” rating and issued a $96.00 price target on shares of Medtronic in a research note on Monday, October 2nd. Stifel Nicolaus lowered their price target on shares of Medtronic from $91.00 to $83.00 and set a “hold” rating for the company in a research note on Monday, October 9th. Wells Fargo & Co downgraded shares of Medtronic from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $93.00 to $83.00 in a research note on Monday, October 9th. Finally, Needham & Company LLC lowered their price target on shares of Medtronic from $95.00 to $94.00 and set a “buy” rating for the company in a research note on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $88.57.

Medtronic plc. (MDT) opened at $81.54 on Friday. The company has a market cap of $110,280.00, a PE ratio of 22.40, a PEG ratio of 2.25 and a beta of 1.00. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.05 and a current ratio of 2.40. Medtronic plc. has a one year low of $69.35 and a one year high of $89.72.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend is Thursday, December 28th. Medtronic’s dividend payout ratio (DPR) is 50.55%.

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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.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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