Edgemoor Investment Advisors Inc. lifted its holdings in shares of Medtronic plc. (NYSE:MDT) by 84.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,841 shares of the medical technology company’s stock after acquiring an additional 3,601 shares during the quarter. Edgemoor Investment Advisors Inc.’s holdings in Medtronic were worth $669,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of MDT. Janus Henderson Group PLC bought a new position in Medtronic during the third quarter valued at $579,952,000. Lazard Asset Management LLC grew its holdings in Medtronic by 43.8% during the second 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 purchasing an additional 5,991,094 shares during the period. Alliancebernstein L.P. grew its holdings in Medtronic by 135.5% during the second quarter. Alliancebernstein L.P. now owns 6,070,160 shares of the medical technology company’s stock valued at $538,727,000 after purchasing an additional 3,493,058 shares during the period. BlackRock Inc. grew its holdings in Medtronic by 2.8% during the second quarter. BlackRock Inc. now owns 89,512,229 shares of the medical technology company’s stock valued at $7,944,210,000 after purchasing an additional 2,476,853 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Medtronic by 2.4% during the second quarter. Vanguard Group Inc. now owns 104,776,036 shares of the medical technology company’s stock valued at $9,298,872,000 after purchasing an additional 2,454,380 shares during the period. 81.91% of the stock is owned by institutional investors.

Several equities analysts have weighed in on MDT shares. SunTrust Banks reissued a “buy” rating and set a $96.00 price objective on shares of Medtronic in a report on Friday, November 3rd. Bank of America raised Medtronic from a “neutral” rating to a “buy” rating in a report on Tuesday, January 2nd. Argus raised Medtronic from a “hold” rating to a “buy” rating and raised their price target for the stock from $81.27 to $95.00 in a report on Tuesday, December 12th. They noted that the move was a valuation call. Oppenheimer reaffirmed a “buy” rating on shares of Medtronic in a report on Thursday, December 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $94.00 price target on shares of Medtronic in a report on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $90.10.

In related news, EVP Bryan C. Hanson sold 16,000 shares of Medtronic 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Richard Kuntz sold 78,526 shares of Medtronic stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $86.21, for a total value of $6,769,726.46. Following the sale, the vice president now directly 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 136,684 shares of company stock valued at $11,582,596 in the last three months. 0.31% of the stock is owned by corporate insiders.

Shares of Medtronic plc. (NYSE:MDT) opened at $80.24 on Tuesday. The stock has a market capitalization of $107,576.02, a price-to-earnings ratio of 21.98, a P/E/G ratio of 2.19 and a beta of 0.93. Medtronic plc. has a 52 week low of $76.15 and a 52 week high of $89.72. 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 (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.08. The company had revenue of $7.05 billion during the quarter, compared to analyst estimates of $7.05 billion. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the company earned $1.12 earnings per share. equities analysts expect that Medtronic plc. will post 4.76 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 19th. Investors of record on Friday, December 29th were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend was Thursday, December 28th. Medtronic’s dividend payout ratio is 50.41%.

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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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