Dean Capital Investments Management LLC Sells 1,077 Shares of Medtronic PLC (NYSE:MDT)

Dean Capital Investments Management LLC decreased its holdings in Medtronic PLC (NYSE:MDT) by 9.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,177 shares of the medical technology company’s stock after selling 1,077 shares during the quarter. Medtronic accounts for about 0.6% of Dean Capital Investments Management LLC’s investment portfolio, making the stock its 9th largest position. Dean Capital Investments Management LLC’s holdings in Medtronic were worth $1,105,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MDT. Nuveen Asset Management LLC grew its position in Medtronic by 12,846.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 8,157,866 shares of the medical technology company’s stock worth $794,495,000 after purchasing an additional 8,094,852 shares in the last quarter. Longview Partners Guernsey LTD boosted its stake in shares of Medtronic by 46.0% during the 2nd quarter. Longview Partners Guernsey LTD now owns 8,843,721 shares of the medical technology company’s stock valued at $861,290,000 after buying an additional 2,787,443 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Medtronic during the 2nd quarter valued at $214,895,000. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Medtronic by 9.4% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,499,865 shares of the medical technology company’s stock valued at $1,412,142,000 after buying an additional 1,251,830 shares during the period. Finally, Boston Partners boosted its stake in shares of Medtronic by 14.9% during the 2nd quarter. Boston Partners now owns 9,655,784 shares of the medical technology company’s stock valued at $940,555,000 after buying an additional 1,250,545 shares during the period. Hedge funds and other institutional investors own 81.09% of the company’s stock.

A number of equities research analysts have issued reports on MDT shares. Barclays lifted their target price on shares of Medtronic from $110.00 to $117.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Bank of America set a $118.00 target price on shares of Medtronic and gave the company a “buy” rating in a research note on Wednesday, August 21st. Cowen reissued an “outperform” rating and set a $111.00 target price (up previously from $99.00) on shares of Medtronic in a research note on Wednesday, August 14th. Raymond James lifted their target price on shares of Medtronic from $105.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Finally, Deutsche Bank lifted their target price on shares of Medtronic from $100.00 to $111.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Medtronic presently has a consensus rating of “Buy” and an average target price of $114.33.

In other Medtronic news, EVP Robert John White sold 52,165 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $109.33, for a total value of $5,703,199.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Richard Kuntz sold 21,425 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $107.51, for a total transaction of $2,303,401.75. Following the completion of the transaction, the senior vice president now owns 78,916 shares in the company, valued at $8,484,259.16. The disclosure for this sale can be found here. In the last three months, insiders sold 156,467 shares of company stock worth $16,900,132. 0.28% of the stock is currently owned by insiders.

NYSE MDT traded up $0.68 on Tuesday, reaching $108.64. The company’s stock had a trading volume of 26,737 shares, compared to its average volume of 3,389,268. The firm has a market cap of $143.60 billion, a PE ratio of 20.81, a price-to-earnings-growth ratio of 2.63 and a beta of 0.62. The business has a 50-day moving average price of $107.49 and a 200 day moving average price of $100.92. Medtronic PLC has a 52 week low of $81.66 and a 52 week high of $112.05. The company has a current ratio of 2.67, a quick ratio of 2.20 and a debt-to-equity ratio of 0.49.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, August 20th. The medical technology company reported $1.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.08. The business had revenue of $7.49 billion for the quarter, compared to analysts’ expectations of $7.40 billion. Medtronic had a net margin of 14.41% and a return on equity of 14.36%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.17 earnings per share. Analysts anticipate that Medtronic PLC will post 5.56 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, September 27th were paid a $0.54 dividend. The ex-dividend date was Thursday, September 26th. This represents a $2.16 dividend on an annualized basis and a yield of 1.99%. Medtronic’s payout ratio is currently 41.38%.

Medtronic Profile

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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