Gamco Investors INC. ET AL lowered its stake in Medtronic PLC (NYSE:MDT) by 7.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 23,820 shares of the medical technology company’s stock after selling 1,850 shares during the period. Gamco Investors INC. ET AL’s holdings in Medtronic were worth $1,852,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MDT. Hudock Capital Group LLC raised its holdings in shares of Medtronic by 0.5% in the 2nd quarter. Hudock Capital Group LLC now owns 2,195 shares of the medical technology company’s stock worth $194,000 after purchasing an additional 11 shares in the last quarter. Triangle Securities Wealth Management raised its holdings in shares of Medtronic by 0.3% in the 2nd quarter. Triangle Securities Wealth Management now owns 4,396 shares of the medical technology company’s stock worth $390,000 after purchasing an additional 15 shares in the last quarter. IFC Holdings Incorporated FL raised its holdings in shares of Medtronic by 0.3% in the 2nd quarter. IFC Holdings Incorporated FL now owns 5,673 shares of the medical technology company’s stock worth $501,000 after purchasing an additional 17 shares in the last quarter. Arcus Capital Partners LLC raised its holdings in shares of Medtronic by 0.8% in the 2nd quarter. Arcus Capital Partners LLC now owns 3,249 shares of the medical technology company’s stock worth $288,000 after purchasing an additional 25 shares in the last quarter. Finally, Guardian Life Insurance Co. of America raised its holdings in shares of Medtronic by 0.6% in the 1st quarter. Guardian Life Insurance Co. of America now owns 5,288 shares of the medical technology company’s stock worth $426,000 after purchasing an additional 29 shares in the last quarter. 81.86% of the stock is owned by institutional investors.

Medtronic PLC (NYSE MDT) traded down $0.08 during trading on Thursday, reaching $81.92. 4,473,300 shares of the company’s stock traded hands, compared to its average volume of 4,950,855. The firm has a market cap of $110,974.65, a price-to-earnings ratio of 17.67, a PEG ratio of 2.26 and a beta of 1.00. The company has a current ratio of 2.40, a quick ratio of 2.05 and a debt-to-equity ratio of 0.50. Medtronic PLC has a 1 year low of $69.35 and a 1 year high of $89.72.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.08. The company had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $7.05 billion. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.12 earnings per share. research analysts expect that Medtronic PLC will post 4.77 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Shareholders of record on Friday, December 29th will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Thursday, December 28th. Medtronic’s dividend payout ratio is 50.41%.

A number of analysts recently commented on the stock. Oppenheimer reiterated a “buy” rating and issued a $92.00 target price on shares of Medtronic in a report on Tuesday, August 22nd. BMO Capital Markets reiterated an “outperform” rating and issued a $89.00 target price (down from $92.00) on shares of Medtronic in a report on Tuesday, October 10th. SunTrust Banks restated a “buy” rating and set a $96.00 price target on shares of Medtronic in a report on Friday, November 3rd. Stifel Nicolaus boosted their price target on shares of Medtronic from $83.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, November 22nd. Finally, Argus upgraded shares of Medtronic from a “hold” rating to a “buy” rating and boosted their price target for the company from $81.27 to $95.00 in a report on Tuesday. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $88.57.

In related news, CEO Omar Ishrak sold 140,407 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 668,503 shares of the company’s stock, valued at approximately $54,569,899.89. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $79.02, for a total transaction of $1,264,320.00. The disclosure for this sale can be found here. Insiders sold 172,407 shares of company stock valued at $13,974,223 over the last three months. Insiders own 0.31% of the company’s stock.

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About Medtronic

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 (NYSE:MDT)

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