Medtronic PLC (MDT) Holdings Lessened by WestEnd Advisors LLC

WestEnd Advisors LLC reduced its holdings in Medtronic PLC (NYSE:MDT) by 10.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 570,625 shares of the medical technology company’s stock after selling 63,710 shares during the quarter. Medtronic accounts for about 3.9% of WestEnd Advisors LLC’s investment portfolio, making the stock its 18th largest holding. WestEnd Advisors LLC’s holdings in Medtronic were worth $44,378,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. Hudock Capital Group LLC increased its holdings in shares of Medtronic by 0.5% in the second quarter. Hudock Capital Group LLC now owns 2,195 shares of the medical technology company’s stock worth $194,000 after acquiring an additional 11 shares in the last quarter. Triangle Securities Wealth Management increased its holdings in shares of Medtronic by 0.3% in the second quarter. Triangle Securities Wealth Management now owns 4,396 shares of the medical technology company’s stock worth $390,000 after acquiring an additional 15 shares in the last quarter. IFC Holdings Incorporated FL increased its holdings in shares of Medtronic by 0.3% in the second quarter. IFC Holdings Incorporated FL now owns 5,673 shares of the medical technology company’s stock worth $501,000 after acquiring an additional 17 shares in the last quarter. Arcus Capital Partners LLC increased its holdings in shares of Medtronic by 0.8% in the second quarter. Arcus Capital Partners LLC now owns 3,249 shares of the medical technology company’s stock worth $288,000 after acquiring an additional 25 shares in the last quarter. Finally, Guardian Life Insurance Co. of America increased its holdings in shares of Medtronic by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 5,288 shares of the medical technology company’s stock worth $426,000 after acquiring an additional 29 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

In other Medtronic news, EVP Bryan C. Hanson sold 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $79.02, for a total value of $1,264,320.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.31% of the stock is owned by company insiders.

MDT has been the subject of a number of research reports. BidaskClub downgraded Medtronic from a “hold” rating to a “sell” rating in a report on Saturday, August 26th. Royal Bank of Canada decreased their price objective on Medtronic from $90.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, October 9th. Zacks Investment Research upgraded Medtronic from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. BMO Capital Markets reiterated an “outperform” rating and set a $92.00 price objective (down from $94.00) on shares of Medtronic in a report on Wednesday, August 23rd. Finally, Barclays decreased their price objective on Medtronic from $94.00 to $92.00 and set an “overweight” rating for the company in a report on Wednesday, August 23rd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the stock. Medtronic currently has a consensus rating of “Hold” and a consensus price target of $88.57.

Medtronic PLC (NYSE MDT) opened at $83.50 on Friday. 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 $113,017.09, a P/E ratio of 18.00, a price-to-earnings-growth ratio of 2.30 and a beta of 1.00. Medtronic PLC has a one year low of $69.35 and a one year high of $89.72.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share for the quarter, beating the Zacks’ 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 return on equity of 12.63% and a net margin of 16.93%. The business’s revenue was down 4.0% compared to the same quarter last year. During the same period last year, the company earned $1.12 earnings per share. equities research analysts predict that Medtronic PLC will post 4.77 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 19th. Shareholders of record on Friday, December 29th will be paid a $0.46 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.84 dividend on an annualized basis and a yield of 2.20%. Medtronic’s dividend payout ratio is 50.41%.

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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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