Medtronic PLC (MDT) Position Cut by Williams Jones & Associates LLC

Williams Jones & Associates LLC cut its stake in Medtronic PLC (NYSE:MDT) by 1.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,537 shares of the medical technology company’s stock after selling 517 shares during the period. Williams Jones & Associates LLC’s holdings in Medtronic PLC were worth $4,485,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of MDT. BlackRock Inc. raised its holdings in Medtronic PLC by 2,513.4% in the first quarter. BlackRock Inc. now owns 87,035,376 shares of the medical technology company’s stock valued at $7,011,571,000 after acquiring an additional 83,705,052 shares in the last quarter. Lazard Asset Management LLC raised its holdings in 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 valued at $1,101,960,000 after acquiring an additional 12,500,992 shares in the last quarter. Vanguard Group Inc. raised its holdings in Medtronic PLC by 4.5% in the first quarter. Vanguard Group Inc. now owns 102,321,656 shares of the medical technology company’s stock valued at $8,243,034,000 after acquiring an additional 4,412,536 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Medtronic PLC by 135.5% in the second quarter. Alliancebernstein L.P. now owns 6,070,160 shares of the medical technology company’s stock valued at $538,727,000 after acquiring an additional 3,493,058 shares in the last quarter. Finally, Sanders Capital LLC raised its holdings in Medtronic PLC by 43.7% in the second quarter. Sanders Capital LLC now owns 6,670,948 shares of the medical technology company’s stock valued at $651,800,000 after acquiring an additional 2,027,147 shares in the last quarter. 81.37% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently issued reports on MDT shares. BidaskClub cut shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Deutsche Bank AG set a $96.00 price target on shares of Medtronic PLC and gave the company a “buy” rating in a report on Monday, July 31st. Zacks Investment Research cut shares of Medtronic PLC from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Jefferies Group LLC reaffirmed a “buy” rating and issued a $103.00 price target on shares of Medtronic PLC in a report on Thursday, August 3rd. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $90.00 target price on shares of Medtronic PLC in a report on Monday, August 21st. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the stock. Medtronic PLC presently has an average rating of “Hold” and an average price target of $87.88.

In related news, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $78.03, for a total value of $1,248,480.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Omar Ishrak sold 140,407 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the completion of the transaction, the chief executive officer now owns 668,503 shares of the company’s stock, valued at approximately $54,569,899.89. The disclosure for this sale can be found here. Insiders sold a total of 172,407 shares of company stock valued at $13,974,223 in the last quarter. 0.31% of the stock is currently owned by insiders.

Medtronic PLC (MDT) opened at $79.49 on Friday. The stock has a market cap of $107,676.43, a PE ratio of 16.95, a P/E/G ratio of 2.17 and a beta of 1.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.64 and a quick ratio of 1.40. Medtronic PLC has a 12-month low of $69.35 and a 12-month high of $89.72.

Medtronic PLC (NYSE:MDT) last announced its earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.04. The firm had revenue of $7.39 billion during the quarter, compared to analyst estimates of $7.44 billion. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. Medtronic PLC’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.03 EPS. equities analysts forecast that Medtronic PLC will post 4.7 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 20th. Investors of record on Friday, September 29th were given a $0.46 dividend. The ex-dividend date was Thursday, September 28th. This represents a $1.84 dividend on an annualized basis and a yield of 2.31%. Medtronic PLC’s dividend payout ratio is presently 61.95%.

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About Medtronic PLC

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 PLC (NYSE:MDT)

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