BNP Paribas Arbitrage SA cut its stake in Medtronic PLC (NYSE:MDT) by 18.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 163,209 shares of the medical technology company’s stock after selling 36,128 shares during the period. BNP Paribas Arbitrage SA’s holdings in Medtronic PLC were worth $14,101,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MDT. Arizona State Retirement System raised its stake in shares of Medtronic PLC by 0.9% in the first quarter. Arizona State Retirement System now owns 438,996 shares of the medical technology company’s stock valued at $32,925,000 after buying an additional 4,100 shares in the last quarter. Seven Eight Capital LLC raised its stake in shares of Medtronic PLC by 709.1% in the first quarter. Seven Eight Capital LLC now owns 23,277 shares of the medical technology company’s stock valued at $1,746,000 after buying an additional 20,400 shares in the last quarter. Squarepoint Ops LLC raised its stake in shares of Medtronic PLC by 294.6% in the first quarter. Squarepoint Ops LLC now owns 87,619 shares of the medical technology company’s stock valued at $6,571,000 after buying an additional 65,416 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Medtronic PLC by 3.4% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 57,973 shares of the medical technology company’s stock valued at $4,350,000 after buying an additional 1,919 shares in the last quarter. Finally, Iguana Healthcare Management LLC bought a new stake in shares of Medtronic PLC during the first quarter valued at $7,268,000. 82.21% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of Medtronic PLC (NYSE:MDT) opened at 80.93 on Friday. Medtronic PLC has a 12-month low of $71.03 and a 12-month high of $89.27. The firm has a 50-day moving average price of $83.91 and a 200-day moving average price of $84.69. The firm has a market cap of $111.84 billion, a price-to-earnings ratio of 31.49 and a beta of 1.01.

Medtronic PLC (NYSE:MDT) last announced its quarterly earnings data on Thursday, August 25th. The medical technology company reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.02. The business had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $7.17 billion. Medtronic PLC had a net margin of 12.70% and a return on equity of 12.06%. The business’s 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 earnings per share. Equities research analysts anticipate that Medtronic PLC will post $4.66 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, October 21st. Stockholders of record on Thursday, September 29th were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend was Tuesday, September 27th. Medtronic PLC’s payout ratio is 66.93%.

Several research firms have recently issued reports on MDT. Zacks Investment Research raised Medtronic PLC from a “hold” rating to a “buy” rating and set a $97.00 price target for the company in a research note on Tuesday, August 9th. Citigroup Inc. began coverage on Medtronic PLC in a research note on Tuesday, August 23rd. They issued a “buy” rating and a $102.00 price target for the company. Cowen and Company set a $94.00 price target on Medtronic PLC and gave the stock a “buy” rating in a research note on Tuesday, August 23rd. Jefferies Group reissued a “buy” rating and issued a $93.00 price target on shares of Medtronic PLC in a research note on Thursday, August 25th. Finally, Credit Suisse Group AG reissued an “outperform” rating and issued a $92.00 price target on shares of Medtronic PLC in a research note on Thursday, August 25th. Six research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $90.04.

In other news, Director Kendall J. Powell sold 7,907 shares of the stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $85.45, for a total transaction of $675,653.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Richard Kuntz sold 25,199 shares of the stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $86.67, for a total transaction of $2,183,997.33. Following the sale, the vice president now owns 149,425 shares in the company, valued at approximately $12,950,664.75. 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

Receive News & Stock Ratings for Medtronic PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic PLC and related stocks with our FREE daily email newsletter.