Heritage Investors Management Corp trimmed its position in Medtronic PLC (NYSE:MDT) by 0.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 56,137 shares of the medical technology company’s stock after selling 385 shares during the period. Heritage Investors Management Corp’s holdings in Medtronic were worth $6,369,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of MDT. Vanguard Group Inc. boosted its stake in Medtronic by 0.6% in the second quarter. Vanguard Group Inc. now owns 112,334,285 shares of the medical technology company’s stock valued at $10,940,236,000 after acquiring an additional 640,083 shares during the last quarter. BlackRock Inc. boosted its stake in Medtronic by 0.4% in the second quarter. BlackRock Inc. now owns 107,191,111 shares of the medical technology company’s stock valued at $10,439,341,000 after acquiring an additional 413,027 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Medtronic by 2.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 22,211,176 shares of the medical technology company’s stock valued at $2,163,147,000 after acquiring an additional 516,915 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Medtronic by 9.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,499,865 shares of the medical technology company’s stock valued at $1,412,142,000 after acquiring an additional 1,251,830 shares during the last quarter. Finally, Boston Partners boosted its stake in Medtronic by 14.9% in the second quarter. Boston Partners now owns 9,655,784 shares of the medical technology company’s stock valued at $940,555,000 after acquiring an additional 1,250,545 shares during the last quarter. 80.65% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have weighed in on the stock. Citigroup cut shares of Medtronic from a “buy” rating to a “neutral” rating in a research note on Thursday, January 2nd. Guggenheim upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and set a $135.00 price target on the stock in a research note on Thursday, January 2nd. They noted that the move was a valuation call. Royal Bank of Canada upped their price target on shares of Medtronic from $118.00 to $122.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. SunTrust Banks started coverage on shares of Medtronic in a research note on Tuesday, January 7th. They set a “buy” rating and a $130.00 price target on the stock. Finally, Deutsche Bank started coverage on shares of Medtronic in a research note on Friday, January 3rd. They set a “buy” rating and a $99.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $119.52.

In related news, Director Richard H. Anderson purchased 5,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were purchased at an average price of $111.13 per share, with a total value of $555,650.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Robert John White sold 52,165 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $109.33, for a total transaction of $5,703,199.45. The disclosure for this sale can be found here. Insiders sold a total of 106,433 shares of company stock worth $11,704,539 over the last quarter. Corporate insiders own 0.28% of the company’s stock.

NYSE MDT traded down $1.20 on Tuesday, hitting $116.81. The stock had a trading volume of 2,743,198 shares, compared to its average volume of 3,603,777. Medtronic PLC has a 52-week low of $82.77 and a 52-week high of $118.96. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.28 and a current ratio of 2.77. The company has a market capitalization of $159.02 billion, a price-to-earnings ratio of 22.38, a price-to-earnings-growth ratio of 2.88 and a beta of 0.60. The firm has a 50-day moving average of $113.61 and a 200-day moving average of $107.47.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, November 19th. The medical technology company reported $1.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.03. Medtronic had a net margin of 15.11% and a return on equity of 14.52%. The business had revenue of $7.71 billion for the quarter, compared to analysts’ expectations of $7.66 billion. During the same period in the prior year, the company posted $1.22 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, research analysts anticipate that Medtronic PLC will post 5.6 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, December 27th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Thursday, December 26th. Medtronic’s dividend payout ratio is presently 41.38%.

Medtronic Profile

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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