Bessemer Group Inc. reduced its stake in Medtronic PLC (NYSE:MDT) by 6.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 25,426 shares of the medical technology company’s stock after selling 1,819 shares during the quarter. Bessemer Group Inc.’s holdings in Medtronic were worth $1,977,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Parkside Financial Bank & Trust lifted its holdings in Medtronic by 22.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock worth $102,000 after purchasing an additional 210 shares during the last quarter. BDO Wealth Advisors LLC acquired a new position in shares of Medtronic during the second quarter worth approximately $103,000. Motco lifted its holdings in shares of Medtronic by 8.7% during the second quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after buying an additional 99 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Medtronic by 21.5% during the second quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock worth $114,000 after buying an additional 290 shares during the last quarter. Finally, Israel Discount Bank of New York acquired a new position in shares of Medtronic during the first quarter worth approximately $117,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

In other news, EVP Bryan C. Hanson sold 16,000 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.31% of the company’s stock.

A number of research analysts have recently commented on MDT shares. Needham & Company LLC reiterated a “buy” rating and set a $94.00 price target on shares of Medtronic in a report on Thursday, November 9th. BidaskClub lowered Medtronic from a “hold” rating to a “sell” rating in a report on Saturday, August 26th. Zacks Investment Research lowered Medtronic from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. SunTrust Banks set a $92.00 price target on Medtronic and gave the stock a “buy” rating in a report on Sunday, November 19th. Finally, Royal Bank of Canada cut their price target on Medtronic from $90.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, October 9th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $88.57.

Shares of Medtronic PLC (NYSE:MDT) opened at $83.50 on Friday. The stock has a market capitalization of $113,017.09, a P/E ratio of 18.00, a PEG ratio of 2.30 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 released its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.08. The business had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $7.05 billion. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. Medtronic’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.12 earnings per share. analysts predict that Medtronic PLC will post 4.77 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, December 29th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Thursday, December 28th. Medtronic’s dividend payout ratio is presently 50.41%.

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Medtronic Company Profile

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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