Flossbach Von Storch AG Has $184.69 Million Position in Medtronic plc. (MDT)

Flossbach Von Storch AG lifted its position in Medtronic plc. (NYSE:MDT) by 14.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,374,756 shares of the medical technology company’s stock after purchasing an additional 302,755 shares during the period. Medtronic comprises about 1.9% of Flossbach Von Storch AG’s portfolio, making the stock its 16th biggest holding. Flossbach Von Storch AG owned about 0.18% of Medtronic worth $184,685,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of MDT. Parkside Financial Bank & Trust lifted its stake in shares of Medtronic by 22.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock valued at $102,000 after purchasing an additional 210 shares during the period. BDO Wealth Advisors LLC acquired a new position in shares of Medtronic in the 2nd quarter valued at $103,000. Motco lifted its stake in shares of Medtronic by 8.7% in the 2nd quarter. Motco now owns 1,239 shares of the medical technology company’s stock valued at $110,000 after purchasing an additional 99 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of Medtronic by 21.5% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock valued at $114,000 after purchasing an additional 290 shares during the period. Finally, Blue Chip Partners Inc. acquired a new position in shares of Medtronic in the 3rd quarter valued at $118,000. Hedge funds and other institutional investors own 81.72% of the company’s stock.

In other news, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $82.82, for a total transaction of $1,325,120.00. Following the completion of the sale, the executive vice president now owns 88,818 shares of the company’s stock, valued at $7,355,906.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 48,000 shares of company stock valued at $3,837,920 in the last ninety days. Insiders own 0.31% of the company’s stock.

Several research firms recently issued reports on MDT. Oppenheimer reiterated a “buy” rating on shares of Medtronic in a research note on Thursday, December 21st. Argus upgraded shares of Medtronic from a “hold” rating to a “buy” rating and upped their price objective for the stock from $81.27 to $95.00 in a research report on Tuesday, December 12th. They noted that the move was a valuation call. BMO Capital Markets upped their price objective on shares of Medtronic to $94.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 12th. Jefferies Group restated a “buy” rating and set a $99.00 price objective on shares of Medtronic in a research report on Thursday, November 23rd. Finally, Zacks Investment Research upgraded shares of Medtronic from a “sell” rating to a “hold” rating in a research report on Thursday, November 23rd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $88.57.

Shares of Medtronic plc. (MDT) opened at $81.76 on Thursday. Medtronic plc. has a 1-year low of $69.35 and a 1-year high of $89.72. The stock has a market cap of $110,360.00, a price-to-earnings ratio of 22.46, a PEG ratio of 2.25 and a beta of 1.00. The company has a current ratio of 2.40, a quick ratio of 2.05 and a debt-to-equity ratio of 0.50.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.08. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The business had revenue of $7.05 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same quarter in the prior year, the firm earned $1.12 earnings per share. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. equities research analysts forecast that Medtronic plc. will post 4.77 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Thursday, December 28th. Medtronic’s payout ratio is 50.55%.

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Medtronic 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.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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