CIBC Asset Management Inc lessened its holdings in shares of Medtronic plc. (NYSE:MDT) by 2.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,942 shares of the medical technology company’s stock after selling 2,544 shares during the quarter. CIBC Asset Management Inc’s holdings in Medtronic were worth $7,306,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Parkside Financial Bank & Trust grew its stake in Medtronic by 22.4% in the second 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 period. BDO Wealth Advisors LLC purchased a new stake in Medtronic in the second quarter worth $103,000. Motco grew its stake in Medtronic by 8.7% in the second quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after purchasing an additional 99 shares during the period. Quadrant Capital Group LLC grew its stake in Medtronic by 21.5% in the second quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock worth $114,000 after purchasing an additional 290 shares during the period. Finally, Israel Discount Bank of New York purchased a new stake in Medtronic in the first quarter worth $117,000. Institutional investors own 81.74% of the company’s stock.

Shares of Medtronic plc. (NYSE:MDT) opened at $82.04 on Wednesday. Medtronic plc. has a 12 month low of $69.35 and a 12 month high of $89.72. The company has a market capitalization of $112,922.34, a price-to-earnings ratio of 17.98, a PEG ratio of 2.30 and a beta of 1.00. The company has a quick ratio of 2.05, a current ratio of 2.40 and a debt-to-equity ratio of 0.50.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The firm had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same period in the prior year, the firm posted $1.12 earnings per share. The company’s quarterly revenue was down 4.0% on a year-over-year basis. equities research analysts anticipate that Medtronic plc. will post 4.77 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Friday, December 29th will be given a dividend of $0.46 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.84 annualized dividend and a dividend yield of 2.24%. Medtronic’s dividend payout ratio (DPR) is presently 50.41%.

In related news, EVP Bryan C. Hanson sold 16,000 shares of the 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold 48,000 shares of company stock worth $3,837,920 over the last ninety days. 0.31% of the stock is currently owned by insiders.

Several equities research analysts recently weighed in on MDT shares. SunTrust Banks reaffirmed a “buy” rating and issued a $96.00 price target on shares of Medtronic in a research note on Monday, October 2nd. Jefferies Group reaffirmed a “buy” rating and issued a $96.00 price target on shares of Medtronic in a research note on Thursday, September 28th. Cowen set a $95.00 price target on Medtronic and gave the stock a “buy” rating in a research note on Tuesday, August 22nd. Oppenheimer reaffirmed a “buy” rating and issued a $92.00 price target on shares of Medtronic in a research note on Tuesday, August 22nd. Finally, Needham & Company LLC reduced their price target on Medtronic from $95.00 to $94.00 and set a “buy” rating on the stock in a research note on Tuesday, October 10th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $88.57.

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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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