Flossbach Von Storch AG reduced its stake in shares of Medtronic PLC (NYSE:MDT) by 15.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,587,051 shares of the medical technology company’s stock after selling 288,939 shares during the period. Medtronic PLC accounts for 2.4% of Flossbach Von Storch AG’s portfolio, making the stock its 14th largest position. Flossbach Von Storch AG owned 0.11% of Medtronic PLC worth $137,708,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Clarkston Capital Partners LLC raised its position in Medtronic PLC by 3.3% in the second quarter. Clarkston Capital Partners LLC now owns 120,828 shares of the medical technology company’s stock valued at $10,484,000 after buying an additional 3,840 shares during the last quarter. First Republic Investment Management Inc. raised its position in Medtronic PLC by 6.5% in the first quarter. First Republic Investment Management Inc. now owns 538,638 shares of the medical technology company’s stock valued at $40,399,000 after buying an additional 32,837 shares during the last quarter. Atlanta Capital Management Co. L L C purchased a new position in Medtronic PLC during the first quarter valued at $45,404,000. Comgest Global Investors S.A.S. raised its position in Medtronic PLC by 3.4% in the second quarter. Comgest Global Investors S.A.S. now owns 1,733,820 shares of the medical technology company’s stock valued at $150,444,000 after buying an additional 57,500 shares during the last quarter. Finally, Kelman Lazarov Inc. raised its position in Medtronic PLC by 17.4% in the second quarter. Kelman Lazarov Inc. now owns 1,517 shares of the medical technology company’s stock valued at $132,000 after buying an additional 225 shares during the last quarter. 83.11% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Medtronic PLC (NYSE:MDT)

Medtronic PLC (NYSE:MDT) traded up 0.01% on Friday, hitting $85.96. The stock had a trading volume of 3,182,362 shares. Medtronic PLC has a 1-year low of $71.03 and a 1-year high of $89.27. The company has a 50-day moving average price of $86.45 and a 200-day moving average price of $83.62. The stock has a market capitalization of $118.79 billion, a price-to-earnings ratio of 33.45 and a beta of 0.88.

Medtronic PLC (NYSE:MDT) last posted its quarterly earnings results on Thursday, August 25th. The medical technology company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.02. The company earned $7.20 billion during the quarter, compared to the consensus estimate of $7.17 billion. Medtronic PLC had a return on equity of 12.06% and a net margin of 12.70%. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.02 EPS. Equities analysts predict that Medtronic PLC will post $4.66 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Stockholders of record on Thursday, September 29th will be paid a dividend of $0.43 per share. The ex-dividend date is Tuesday, September 27th. This represents a $1.72 annualized dividend and a dividend yield of 2.00%. Medtronic PLC’s payout ratio is 66.93%.

MDT has been the topic of several research analyst reports. Deutsche Bank AG restated a “buy” rating and set a $90.00 target price on shares of Medtronic PLC in a report on Wednesday, June 15th. SunTrust Banks Inc. raised their target price on shares of Medtronic PLC from $93.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, June 13th. Credit Suisse Group AG restated a “buy” rating and set a $85.00 target price on shares of Medtronic PLC in a report on Tuesday, June 28th. Evercore ISI restated a “buy” rating and set a $86.50 target price on shares of Medtronic PLC in a report on Monday, June 27th. Finally, Needham & Company LLC restated a “buy” rating on shares of Medtronic PLC in a report on Monday, June 27th. Six analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $90.12.

In other Medtronic PLC news, Director Shirley A. Jackson sold 2,104 shares of the firm’s stock in a transaction dated Wednesday, July 13th. The stock was sold at an average price of $88.64, for a total value of $186,498.56. Following the completion of the transaction, the director now owns 34,503 shares in the company, valued at approximately $3,058,345.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Richard Kuntz sold 17,141 shares of the firm’s stock in a transaction dated Tuesday, September 27th. The stock was sold at an average price of $86.70, for a total value of $1,486,124.70. Following the completion of the transaction, the vice president now owns 149,425 shares of the company’s stock, valued at approximately $12,955,147.50. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Medtronic PLC Company Profile

Medtronic plc (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.

5 Day Chart for NYSE:MDT

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