Motley Fool Wealth Management LLC grew its position in shares of Medtronic PLC (NYSE:MDT) by 0.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 186,586 shares of the medical technology company’s stock after buying an additional 694 shares during the period. Medtronic accounts for 1.2% of Motley Fool Wealth Management LLC’s investment portfolio, making the stock its 28th largest position. Motley Fool Wealth Management LLC’s holdings in Medtronic were worth $18,354,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MDT. Pendal Group Ltd lifted its holdings in Medtronic by 28,068.1% during the 3rd quarter. Pendal Group Ltd now owns 3,177,643 shares of the medical technology company’s stock worth $312,585,000 after purchasing an additional 3,166,362 shares in the last quarter. BlackRock Inc. lifted its holdings in Medtronic by 2.1% during the 2nd quarter. BlackRock Inc. now owns 97,867,667 shares of the medical technology company’s stock worth $8,378,448,000 after purchasing an additional 1,966,789 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Medtronic by 11.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 15,717,199 shares of the medical technology company’s stock worth $1,345,549,000 after purchasing an additional 1,589,932 shares in the last quarter. American Century Companies Inc. lifted its holdings in Medtronic by 22.3% during the 3rd quarter. American Century Companies Inc. now owns 7,925,640 shares of the medical technology company’s stock worth $779,645,000 after purchasing an additional 1,443,303 shares in the last quarter. Finally, Artisan Partners Limited Partnership lifted its holdings in Medtronic by 4.2% during the 2nd quarter. Artisan Partners Limited Partnership now owns 23,443,933 shares of the medical technology company’s stock worth $2,007,035,000 after purchasing an additional 939,892 shares in the last quarter. 80.00% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE MDT opened at $94.36 on Friday. The stock has a market capitalization of $127.95 billion, a price-to-earnings ratio of 19.78, a price-to-earnings-growth ratio of 2.52 and a beta of 0.94. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.06 and a current ratio of 2.46. Medtronic PLC has a twelve month low of $76.41 and a twelve month high of $100.15.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 21st. The medical technology company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.06. The business had revenue of $7.38 billion for the quarter, compared to analyst estimates of $7.24 billion. Medtronic had a return on equity of 12.98% and a net margin of 10.56%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.12 EPS. Research analysts forecast that Medtronic PLC will post 5.12 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 19th. Shareholders of record on Friday, September 28th were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $2.00 dividend on an annualized basis and a yield of 2.12%. Medtronic’s dividend payout ratio is currently 41.93%.

MDT has been the topic of a number of recent research reports. Needham & Company LLC raised Medtronic from a “buy” rating to a “strong-buy” rating and increased their price objective for the stock from $103.00 to $119.00 in a report on Monday, August 13th. Wells Fargo & Co increased their price objective on Medtronic from $95.00 to $101.00 and gave the stock a “market perform” rating in a report on Wednesday, August 22nd. Argus increased their price objective on Medtronic from $95.00 to $108.00 and gave the stock a “buy” rating in a report on Monday, August 27th. Leerink Swann increased their price objective on Medtronic from $95.00 to $100.00 and gave the stock a “market perform” rating in a report on Wednesday, August 22nd. Finally, Zacks Investment Research cut Medtronic from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $102.58.

In other news, EVP Michael J. Coyle sold 145,544 shares of the stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $95.50, for a total transaction of $13,899,452.00. Following the transaction, the executive vice president now directly owns 190,680 shares in the company, valued at approximately $18,209,940. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Richard Kuntz sold 47,176 shares of the stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $95.88, for a total value of $4,523,234.88. Following the transaction, the senior vice president now owns 152,579 shares in the company, valued at $14,629,274.52. The disclosure for this sale can be found here. Insiders sold a total of 268,678 shares of company stock worth $25,818,353 over the last 90 days. Corporate insiders own 0.28% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Motley Fool Wealth Management LLC Purchases 694 Shares of Medtronic PLC (MDT)” was originally posted by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this report on another website, it was copied illegally and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this report can be read at https://theolympiareport.com/2018/11/11/motley-fool-wealth-management-llc-purchases-694-shares-of-medtronic-plc-mdt.html.

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.

Featured Article: Hedge Funds – How They Work For Investors

Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic PLC (NYSE:MDT).

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.