Sii Investments Inc. WI reduced its holdings in shares of Medtronic PLC (NYSE:MDT) by 24.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,358 shares of the medical technology company’s stock after selling 1,414 shares during the quarter. Sii Investments Inc. WI’s holdings in Medtronic PLC were worth $387,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in MDT. Captrust Financial Advisors acquired a new position in Medtronic PLC in the 2nd quarter worth about $384,000. Wesbanco Bank Inc. increased its holdings in Medtronic PLC by 3.1% in the 2nd quarter. Wesbanco Bank Inc. now owns 10,170 shares of the medical technology company’s stock worth $903,000 after purchasing an additional 308 shares in the last quarter. Dupont Capital Management Corp increased its holdings in Medtronic PLC by 28.8% in the 2nd quarter. Dupont Capital Management Corp now owns 74,052 shares of the medical technology company’s stock worth $6,572,000 after purchasing an additional 16,562 shares in the last quarter. Chilton Investment Co. LLC increased its holdings in Medtronic PLC by 6.1% in the 2nd quarter. Chilton Investment Co. LLC now owns 26,842 shares of the medical technology company’s stock worth $2,382,000 after purchasing an additional 1,538 shares in the last quarter. Finally, RMB Capital Management LLC acquired a new position in Medtronic PLC in the 1st quarter worth about $4,576,000. Institutional investors and hedge funds own 81.37% of the company’s stock.
Shares of Medtronic PLC (MDT) opened at $79.49 on Friday. The company has a market capitalization of $107,676.43, a P/E 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 quick ratio of 1.40 and a current ratio of 1.64. Medtronic PLC has a one year low of $69.35 and a one year high of $89.72.
The company also recently declared a quarterly dividend, which was paid on Friday, October 20th. Shareholders of record on Friday, September 29th were issued a $0.46 dividend. The ex-dividend date was Thursday, September 28th. This represents a $1.84 annualized dividend and a yield of 2.31%. Medtronic PLC’s payout ratio is currently 61.95%.
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In other Medtronic PLC news, CEO Omar Ishrak sold 140,407 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $81.63, for a total value of $11,461,423.41. Following the transaction, the chief executive officer now owns 668,503 shares in the company, valued at $54,569,899.89. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last quarter, insiders sold 172,407 shares of company stock worth $13,974,223. Corporate insiders own 0.31% of the company’s stock.
A number of equities analysts have issued reports on MDT shares. Jefferies Group LLC lowered their target price on Medtronic PLC from $103.00 to $96.00 and set a “buy” rating for the company in a report on Wednesday, August 23rd. Deutsche Bank AG set a $96.00 target price on Medtronic PLC and gave the stock a “buy” rating in a report on Monday, July 31st. BidaskClub cut Medtronic PLC from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Cowen and Company set a $95.00 target price on Medtronic PLC and gave the stock a “buy” rating in a report on Tuesday, August 22nd. Finally, Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $92.00 target price on shares of Medtronic PLC in a report on Tuesday, August 22nd. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Medtronic PLC has an average rating of “Hold” and a consensus target price of $87.88.
Medtronic PLC 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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