Medtronic plc. (MDT) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas trimmed its holdings in Medtronic plc. (NYSE:MDT) by 7.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 583,948 shares of the medical technology company’s stock after selling 47,097 shares during the period. Teacher Retirement System of Texas’ holdings in Medtronic were worth $47,154,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. boosted its stake 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 buying an additional 2,454,380 shares during the last quarter. BlackRock Inc. boosted its stake 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 buying an additional 2,476,853 shares during the last quarter. Artisan Partners Limited Partnership boosted its stake in Medtronic by 1.1% in the 3rd quarter. Artisan Partners Limited Partnership now owns 23,853,034 shares of the medical technology company’s stock worth $1,855,050,000 after buying an additional 269,814 shares during the last quarter. Lazard Asset Management LLC lifted its stake in shares of 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 valued at $1,745,699,000 after purchasing an additional 5,991,094 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of Medtronic by 1.4% in the 3rd quarter. Wells Fargo & Company MN now owns 12,378,331 shares of the medical technology company’s stock valued at $962,664,000 after purchasing an additional 165,149 shares in the last quarter. 81.97% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic plc. (NYSE MDT) opened at $79.48 on Friday. The company has a market capitalization of $106,090.00, a P/E ratio of 21.84, a P/E/G ratio of 2.16 and a beta of 0.93. 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 plc. has a 52-week low of $75.71 and a 52-week high of $89.72.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.99 by $0.08. The firm had revenue of $7.05 billion for the quarter, compared to analyst estimates of $7.05 billion. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. Medtronic’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.12 EPS. analysts predict that Medtronic plc. will post 4.76 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, January 19th. Investors of record on Friday, December 29th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.32%. The ex-dividend date was Thursday, December 28th. Medtronic’s dividend payout ratio (DPR) is presently 50.55%.

In other Medtronic news, EVP Bryan C. Hanson sold 16,000 shares of Medtronic stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $79.02, for a total transaction of $1,264,320.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Richard Kuntz sold 78,526 shares of Medtronic stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $86.21, for a total value of $6,769,726.46. Following the sale, the vice president now owns 149,761 shares in the company, valued at $12,910,895.81. The disclosure for this sale can be found here. Insiders have sold a total of 136,684 shares of company stock worth $11,582,596 over the last three months. 0.31% of the stock is currently owned by corporate insiders.

Several equities analysts have recently weighed in on MDT shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $94.00 price objective on shares of Medtronic in a research note on Thursday, November 9th. SunTrust Banks set a $92.00 price objective on Medtronic and gave the company a “buy” rating in a research note on Sunday, November 19th. Evercore ISI started coverage on Medtronic in a research note on Wednesday, January 3rd. They issued an “outperform” rating and a $92.50 price objective on the stock. Oppenheimer reaffirmed a “buy” rating on shares of Medtronic in a research note on Thursday, December 21st. Finally, BMO Capital Markets lifted their price objective on Medtronic to $94.00 and gave the company an “outperform” rating in a research note on Tuesday, December 12th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $90.10.

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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.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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