WestEnd Advisors LLC lowered its holdings in shares of Medtronic plc. (NYSE:MDT) by 4.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 546,046 shares of the medical technology company’s stock after selling 24,579 shares during the quarter. Medtronic comprises about 4.1% of WestEnd Advisors LLC’s investment portfolio, making the stock its 14th biggest position. WestEnd Advisors LLC’s holdings in Medtronic were worth $44,093,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in MDT. Janus Henderson Group PLC bought a new position in Medtronic in the 3rd quarter worth $579,952,000. Lazard Asset Management LLC raised 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 worth $1,745,699,000 after acquiring an additional 5,991,094 shares during the period. Alliancebernstein L.P. raised its holdings in Medtronic by 135.5% in the 2nd quarter. Alliancebernstein L.P. now owns 6,070,160 shares of the medical technology company’s stock worth $538,727,000 after acquiring an additional 3,493,058 shares during the period. BlackRock Inc. raised 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 worth $7,944,210,000 after acquiring an additional 2,476,853 shares during the period. Finally, Vanguard Group Inc. raised 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 worth $9,298,872,000 after acquiring an additional 2,454,380 shares during the period. Hedge funds and other institutional investors own 81.97% of the company’s stock.
Shares of Medtronic plc. (NYSE MDT) opened at $81.67 on Wednesday. The company has a quick ratio of 2.05, a current ratio of 2.40 and a debt-to-equity ratio of 0.50. The stock has a market cap of $110,200.00, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 2.24 and a beta of 0.93. Medtronic plc. has a 12-month low of $75.44 and a 12-month high of $89.72.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 19th. Stockholders of record on Friday, December 29th were given a dividend of $0.46 per share. The ex-dividend date was Thursday, December 28th. This represents a $1.84 annualized dividend and a dividend yield of 2.25%. Medtronic’s dividend payout ratio (DPR) is currently 50.55%.
In other news, EVP Bryan C. Hanson sold 16,000 shares of Medtronic stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $79.02, for a total transaction of $1,264,320.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Hooman Hakami sold 26,158 shares of Medtronic stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $85.00, for a total transaction of $2,223,430.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 136,684 shares of company stock worth $11,582,596. 0.31% of the stock is owned by company insiders.
Several research analysts recently commented on MDT shares. Needham & Company LLC dropped their target price on shares of Medtronic from $95.00 to $94.00 and set a “buy” rating on the stock in a report on Tuesday, October 10th. BMO Capital Markets reiterated an “outperform” rating and issued a $89.00 target price (down previously from $92.00) on shares of Medtronic in a report on Tuesday, October 10th. Cowen reiterated a “buy” rating and issued a $95.00 target price on shares of Medtronic in a report on Friday, November 3rd. SunTrust Banks reiterated a “buy” rating and issued a $96.00 target price on shares of Medtronic in a report on Friday, November 3rd. Finally, Stifel Nicolaus lifted their target price on shares of Medtronic from $83.00 to $85.00 and gave the stock a “hold” rating in a report on Wednesday, November 22nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $90.10.
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.
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