Smith Shellnut Wilson LLC ADV lowered its holdings in shares of Medtronic plc. (NYSE:MDT) by 14.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,378 shares of the medical technology company’s stock after selling 729 shares during the period. Smith Shellnut Wilson LLC ADV’s holdings in Medtronic were worth $340,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in MDT. Janus Henderson Group PLC acquired a new position in shares of Medtronic in the third quarter valued at approximately $579,952,000. Lazard Asset Management LLC raised its position in shares of Medtronic by 43.8% in the second 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 buying an additional 5,991,094 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Medtronic by 135.5% in 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 last quarter. BlackRock Inc. raised its position in shares of Medtronic by 2.8% in the second quarter. BlackRock Inc. now owns 89,512,229 shares of the medical technology company’s stock valued at $7,944,210,000 after buying an additional 2,476,853 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Medtronic by 2.4% in the second quarter. Vanguard Group Inc. now owns 104,776,036 shares of the medical technology company’s stock valued at $9,298,872,000 after buying an additional 2,454,380 shares during the last quarter. Institutional investors own 81.72% of the company’s stock.
A number of equities analysts have recently weighed in on the stock. Jefferies Group reissued a “buy” rating and issued a $96.00 price objective on shares of Medtronic in a research report on Thursday, September 28th. SunTrust Banks reissued a “buy” rating and issued a $96.00 price objective on shares of Medtronic in a research report on Monday, October 2nd. Stifel Nicolaus lowered their target price on shares of Medtronic from $91.00 to $83.00 and set a “hold” rating for the company in a report on Monday, October 9th. Wells Fargo & Co downgraded shares of Medtronic from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $93.00 to $83.00 in a report on Monday, October 9th. Finally, Needham & Company LLC lowered their target price on shares of Medtronic from $95.00 to $94.00 and set a “buy” rating for the company in a report on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $89.65.
Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.08. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The company had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $7.05 billion. During the same period in the previous year, the firm earned $1.12 earnings per share. Medtronic’s revenue for the quarter was down 4.0% on a year-over-year basis. sell-side analysts predict that Medtronic plc. will post 4.77 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.84 annualized dividend and a yield of 2.15%. Medtronic’s dividend payout ratio is currently 50.41%.
In other Medtronic news, EVP Bryan C. Hanson sold 16,000 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $78.03, for a total transaction of $1,248,480.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Richard Kuntz sold 78,526 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $86.21, for a total transaction of $6,769,726.46. Following the sale, the vice president now owns 149,761 shares of the company’s stock, valued at $12,910,895.81. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 152,684 shares of company stock valued at $12,831,076. 0.31% of the stock is owned by insiders.
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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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