Capital Research Global Investors lowered its position in Medtronic PLC (NYSE:MDT) by 6.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,458,396 shares of the medical technology company’s stock after selling 2,187,417 shares during the quarter. Capital Research Global Investors owned about 2.31% of Medtronic PLC worth $2,791,933,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Hudock Capital Group LLC raised its stake in shares of Medtronic PLC by 0.5% in the second quarter. Hudock Capital Group LLC now owns 2,195 shares of the medical technology company’s stock valued at $194,000 after acquiring an additional 11 shares during the period. Bollard Group LLC raised its stake in shares of Medtronic PLC by 0.4% in the second quarter. Bollard Group LLC now owns 3,651 shares of the medical technology company’s stock valued at $324,000 after acquiring an additional 14 shares during the period. Triangle Securities Wealth Management raised its stake in shares of Medtronic PLC by 0.3% in the second quarter. Triangle Securities Wealth Management now owns 4,396 shares of the medical technology company’s stock valued at $390,000 after acquiring an additional 15 shares during the period. IFC Holdings Incorporated FL raised its stake in shares of Medtronic PLC by 0.3% in the second quarter. IFC Holdings Incorporated FL now owns 5,673 shares of the medical technology company’s stock valued at $501,000 after acquiring an additional 17 shares during the period. Finally, North Star Investment Management Corp. raised its stake in shares of Medtronic PLC by 1.1% in the second quarter. North Star Investment Management Corp. now owns 1,995 shares of the medical technology company’s stock valued at $177,000 after acquiring an additional 22 shares during the period. 81.37% of the stock is currently owned by institutional investors and hedge funds.

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In related news, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $79.02, for a total value of $1,264,320.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Omar Ishrak sold 140,407 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 668,503 shares of the company’s stock, valued at $54,569,899.89. The disclosure for this sale can be found here. Insiders sold a total of 172,407 shares of company stock worth $13,974,223 over the last 90 days. Company insiders own 0.31% of the company’s stock.

Shares of Medtronic PLC (NYSE:MDT) opened at $79.49 on Friday. Medtronic PLC has a 1-year low of $69.35 and a 1-year high of $89.72. The firm has a market cap of $107,676.43, a PE ratio of 16.95, a PEG ratio of 2.17 and a beta of 1.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.64 and a quick ratio of 1.40.

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

The company also recently declared a quarterly dividend, which was paid on Friday, October 20th. Stockholders of record on Friday, September 29th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Thursday, September 28th. Medtronic PLC’s dividend payout ratio is currently 61.95%.

Several equities research analysts have recently weighed in on MDT shares. Jefferies Group LLC reduced their target price on shares of Medtronic PLC from $103.00 to $96.00 and set a “buy” rating on the stock in a research note on Wednesday, August 23rd. Deutsche Bank AG set a $96.00 price target on shares of Medtronic PLC and gave the stock a “buy” rating in a report on Monday, July 31st. BidaskClub cut shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Cowen and Company set a $95.00 price target on shares of Medtronic PLC and gave the stock a “buy” rating in a report on Tuesday, August 22nd. Finally, Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $92.00 price target on shares of Medtronic PLC in a report on Tuesday, August 22nd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $87.88.

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.

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

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