First Allied Advisory Services Inc. Grows Stake in Medtronic PLC (MDT)

First Allied Advisory Services Inc. lifted its holdings in Medtronic PLC (NYSE:MDT) by 13.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,433 shares of the medical technology company’s stock after acquiring an additional 1,640 shares during the quarter. First Allied Advisory Services Inc.’s holdings in Medtronic PLC were worth $1,196,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in MDT. BlackRock Inc. grew its position in Medtronic PLC by 2,513.4% during the first quarter. BlackRock Inc. now owns 87,035,376 shares of the medical technology company’s stock valued at $7,011,571,000 after buying an additional 83,705,052 shares during the period. Lazard Asset Management LLC grew its position in Medtronic PLC by 1,061.4% during the first quarter. Lazard Asset Management LLC now owns 13,678,772 shares of the medical technology company’s stock valued at $1,101,960,000 after buying an additional 12,500,992 shares during the period. Vanguard Group Inc. grew its position in Medtronic PLC by 4.5% during the first quarter. Vanguard Group Inc. now owns 102,321,656 shares of the medical technology company’s stock valued at $8,243,034,000 after buying an additional 4,412,536 shares during the period. Alliancebernstein L.P. grew its position in Medtronic PLC by 135.5% during the second quarter. Alliancebernstein L.P. now owns 6,070,160 shares of the medical technology company’s stock valued at $538,727,000 after buying an additional 3,493,058 shares during the period. Finally, Sanders Capital LLC grew its position in Medtronic PLC by 43.7% during the second quarter. Sanders Capital LLC now owns 6,670,948 shares of the medical technology company’s stock valued at $651,800,000 after buying an additional 2,027,147 shares during the period. Hedge funds and other institutional investors own 81.37% of the company’s stock.

Several analysts recently commented on MDT shares. BidaskClub lowered shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Deutsche Bank AG set a $96.00 price target on shares of Medtronic PLC and gave the company a “buy” rating in a research report on Monday, July 31st. Zacks Investment Research lowered shares of Medtronic PLC from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Jefferies Group LLC restated a “buy” rating and set a $103.00 price target on shares of Medtronic PLC in a research report on Thursday, August 3rd. Finally, Royal Bank Of Canada restated a “buy” rating and set a $90.00 price target on shares of Medtronic PLC in a research report on Monday, August 21st. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $87.88.

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Medtronic PLC (MDT) opened at $78.68 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.64 and a quick ratio of 1.40. The firm has a market cap of $107,229.42, a PE ratio of 16.88, a PEG ratio of 2.16 and a beta of 1.00. Medtronic PLC has a 52 week low of $69.35 and a 52 week high of $89.72.

Medtronic PLC (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.04. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. The firm had revenue of $7.39 billion during the quarter, compared to analysts’ expectations of $7.44 billion. During the same period last year, the business earned $1.03 earnings per share. Medtronic PLC’s revenue was up 3.1% compared to the same quarter last year. research analysts anticipate that Medtronic PLC will post 4.7 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 20th. Investors of record on Friday, September 29th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.34%. The ex-dividend date was Thursday, September 28th. Medtronic PLC’s payout ratio is currently 61.95%.

In related news, CEO Omar Ishrak sold 140,407 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the completion of the sale, the chief executive officer now directly owns 668,503 shares in the company, valued at $54,569,899.89. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Bryan C. Hanson sold 16,000 shares of the firm’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $78.03, for a total transaction of $1,248,480.00. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

About Medtronic PLC

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 PLC (NYSE:MDT)

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