Robeco Institutional Asset Management B.V. Boosts Holdings in Medtronic PLC (MDT)

Robeco Institutional Asset Management B.V. grew its holdings in shares of Medtronic PLC (NYSE:MDT) by 82.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 256,079 shares of the medical technology company’s stock after acquiring an additional 115,450 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Medtronic were worth $25,200,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of MDT. Chicago Partners Investment Group LLC increased its stake in shares of Medtronic by 24.4% in the second quarter. Chicago Partners Investment Group LLC now owns 2,699 shares of the medical technology company’s stock worth $231,000 after buying an additional 530 shares during the period. Duncker Streett & Co. Inc. increased its stake in shares of Medtronic by 3.0% in the third quarter. Duncker Streett & Co. Inc. now owns 18,383 shares of the medical technology company’s stock worth $1,808,000 after buying an additional 544 shares during the period. Telemus Capital LLC increased its stake in shares of Medtronic by 4.9% in the third quarter. Telemus Capital LLC now owns 11,590 shares of the medical technology company’s stock worth $1,140,000 after buying an additional 544 shares during the period. Strategic Financial Services Inc increased its stake in shares of Medtronic by 1.0% in the second quarter. Strategic Financial Services Inc now owns 57,707 shares of the medical technology company’s stock worth $4,940,000 after buying an additional 554 shares during the period. Finally, SNS Financial Group LLC increased its stake in shares of Medtronic by 7.1% in the third quarter. SNS Financial Group LLC now owns 8,439 shares of the medical technology company’s stock worth $830,000 after buying an additional 560 shares during the period. 80.14% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP Geoffrey Martha sold 49,799 shares of the business’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $97.93, for a total transaction of $4,876,816.07. Following the sale, the executive vice president now owns 87,872 shares in the company, valued at approximately $8,605,304.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Richard H. Anderson bought 2,600 shares of the company’s stock in a transaction dated Thursday, August 23rd. The shares were acquired at an average price of $95.88 per share, for a total transaction of $249,288.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 268,678 shares of company stock worth $25,818,353. Company insiders own 0.28% of the company’s stock.

MDT has been the topic of several analyst reports. Needham & Company LLC raised shares of Medtronic from a “buy” rating to a “strong-buy” rating and lifted their target price for the stock from $103.00 to $119.00 in a research note on Monday, August 13th. Wells Fargo & Co boosted their price objective on shares of Medtronic from $95.00 to $101.00 and gave the company a “market perform” rating in a research report on Wednesday, August 22nd. Argus boosted their price objective on shares of Medtronic from $95.00 to $108.00 and gave the company a “buy” rating in a research report on Monday, August 27th. Leerink Swann boosted their price objective on shares of Medtronic from $95.00 to $100.00 and gave the company a “market perform” rating in a research report on Wednesday, August 22nd. Finally, Zacks Investment Research downgraded shares of Medtronic from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Medtronic currently has an average rating of “Buy” and an average price target of $102.21.

Shares of Medtronic stock opened at $89.45 on Tuesday. The company has a current ratio of 2.46, a quick ratio of 2.06 and a debt-to-equity ratio of 0.47. The firm has a market cap of $121.21 billion, a price-to-earnings ratio of 18.75, a P/E/G ratio of 2.38 and a beta of 0.92. Medtronic PLC has a 12-month low of $76.41 and a 12-month high of $100.15.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 21st. The medical technology company reported $1.17 EPS for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.06. Medtronic had a net margin of 10.56% and a return on equity of 12.98%. The firm had revenue of $7.38 billion for the quarter, compared to analysts’ expectations of $7.24 billion. During the same quarter in the previous year, the business posted $1.12 EPS. The company’s quarterly revenue was down .1% on a year-over-year basis. On average, analysts forecast that Medtronic PLC will post 5.12 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 19th. Stockholders of record on Friday, September 28th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend was Thursday, September 27th. Medtronic’s dividend payout ratio (DPR) is presently 41.93%.

About Medtronic

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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