Vestor Capital LLC Purchases 66,125 Shares of Medtronic plc. (MDT)

Vestor Capital LLC lifted its position in shares of Medtronic plc. (NYSE:MDT) by 107.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 127,664 shares of the medical technology company’s stock after acquiring an additional 66,125 shares during the period. Medtronic accounts for 2.2% of Vestor Capital LLC’s portfolio, making the stock its 17th biggest holding. Vestor Capital LLC’s holdings in Medtronic were worth $9,928,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in MDT. Vanguard Group Inc. lifted its holdings 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 acquiring an additional 2,454,380 shares during the last quarter. BlackRock Inc. lifted its holdings 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 acquiring an additional 2,476,853 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in Medtronic by 43.8% in the 2nd quarter. Lazard Asset Management LLC now owns 19,669,866 shares of the medical technology company’s stock valued at $1,745,699,000 after acquiring an additional 5,991,094 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Medtronic by 7.3% in the 1st quarter. Geode Capital Management LLC now owns 13,308,812 shares of the medical technology company’s stock valued at $1,070,622,000 after acquiring an additional 906,581 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in Medtronic by 2.4% in the 2nd quarter. Wells Fargo & Company MN now owns 12,213,182 shares of the medical technology company’s stock valued at $1,083,919,000 after acquiring an additional 280,610 shares during the last quarter. Institutional investors and hedge funds own 81.72% of the company’s stock.

In related news, EVP Bryan C. Hanson sold 16,000 shares of the firm’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $78.03, for a total value of $1,248,480.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 48,000 shares of company stock valued at $3,837,920. 0.31% of the stock is owned by company insiders.

A number of research firms have commented on MDT. Jefferies Group reaffirmed a “buy” rating and set a $96.00 price objective on shares of Medtronic in a research note on Thursday, September 28th. SunTrust Banks reaffirmed a “buy” rating and set a $96.00 price objective on shares of Medtronic in a research note on Monday, October 2nd. Stifel Nicolaus reduced their price objective 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 Medtronic from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $93.00 to $83.00 in a report on Monday, October 9th. Finally, Needham & Company LLC dropped their target price on Medtronic from $95.00 to $94.00 and set a “buy” rating on the stock in a report on Tuesday, October 10th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the company. Medtronic has an average rating of “Hold” and a consensus price target of $88.57.

Shares of Medtronic plc. (MDT) opened at $81.47 on Wednesday. Medtronic plc. has a 12-month low of $69.35 and a 12-month high of $89.72. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.40 and a quick ratio of 2.05. The firm has a market capitalization of $110,360.00, a P/E ratio of 22.38, a PEG ratio of 2.25 and a beta of 1.00.

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

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

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Medtronic 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 (NYSE:MDT)

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