LS Investment Advisors LLC trimmed its position in Medtronic plc. (NYSE:MDT) by 3.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 189,812 shares of the medical technology company’s stock after selling 6,463 shares during the quarter. Medtronic makes up approximately 0.9% of LS Investment Advisors LLC’s holdings, making the stock its 21st largest position. LS Investment Advisors LLC’s holdings in Medtronic were worth $15,327,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of MDT. Janus Henderson Group PLC bought a new stake in shares of Medtronic in the 3rd quarter valued at approximately $579,952,000. Lazard Asset Management LLC increased its holdings in shares of Medtronic by 43.8% in the 2nd quarter. Lazard Asset Management LLC now owns 19,669,866 shares of the medical technology company’s stock valued at $1,745,699,000 after acquiring an additional 5,991,094 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of Medtronic by 135.5% in the 2nd quarter. Alliancebernstein L.P. now owns 6,070,160 shares of the medical technology company’s stock valued at $538,727,000 after acquiring an additional 3,493,058 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Medtronic by 2.8% in the 2nd quarter. BlackRock Inc. now owns 89,512,229 shares of the medical technology company’s stock valued at $7,944,210,000 after acquiring an additional 2,476,853 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Medtronic by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 104,776,036 shares of the medical technology company’s stock valued at $9,298,872,000 after acquiring an additional 2,454,380 shares during the last quarter. Institutional investors and hedge funds own 81.91% of the company’s stock.

Medtronic plc. (NYSE MDT) opened at $80.22 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.05 and a current ratio of 2.40. Medtronic plc. has a 12-month low of $76.46 and a 12-month high of $89.72. The stock has a market capitalization of $108,604.67, a P/E ratio of 17.29, a P/E/G ratio of 2.21 and a beta of 0.93.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.08. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The company had revenue of $7.05 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same quarter in the previous year, the firm posted $1.12 EPS. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. equities analysts forecast that Medtronic plc. will post 4.76 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, January 19th. Shareholders of record on Friday, December 29th were given a dividend of $0.46 per share. The ex-dividend date was Thursday, December 28th. This represents a $1.84 dividend on an annualized basis and a yield of 2.29%. Medtronic’s dividend payout ratio (DPR) is presently 50.41%.

In other Medtronic news, EVP Bryan C. Hanson sold 16,000 shares of the business’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Richard Kuntz sold 78,526 shares of the business’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $86.21, for a total value of $6,769,726.46. Following the transaction, the vice president now owns 149,761 shares of the company’s stock, valued at approximately $12,910,895.81. The disclosure for this sale can be found here. Insiders have sold a total of 136,684 shares of company stock valued at $11,582,596 in the last quarter. 0.31% of the stock is currently owned by insiders.

A number of brokerages have recently weighed in on MDT. Morgan Stanley boosted their price target on Medtronic from $91.00 to $95.00 and gave the company an “equal weight” rating in a report on Monday, February 5th. Oppenheimer set a $94.00 price target on Medtronic and gave the company a “buy” rating in a report on Friday, January 19th. Cowen reiterated a “buy” rating and issued a $95.00 price target on shares of Medtronic in a report on Friday, November 3rd. Jefferies Group restated a “buy” rating and set a $99.00 price objective on shares of Medtronic in a research report on Thursday, November 23rd. Finally, Stifel Nicolaus boosted their price objective on Medtronic from $83.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, November 22nd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $90.10.

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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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