Parallel Advisors LLC lessened its holdings in Medtronic PLC (NYSE:MDT) by 2.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,031 shares of the medical technology company’s stock after selling 212 shares during the period. Parallel Advisors LLC’s holdings in Medtronic were worth $782,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of MDT. BlackRock Inc. raised its position in Medtronic by 7.9% during the first quarter. BlackRock Inc. now owns 106,778,084 shares of the medical technology company’s stock valued at $9,725,349,000 after purchasing an additional 7,856,946 shares in the last quarter. Nordea Investment Management AB raised its position in Medtronic by 35.4% during the first quarter. Nordea Investment Management AB now owns 8,622,525 shares of the medical technology company’s stock valued at $785,336,000 after purchasing an additional 2,255,412 shares in the last quarter. Thoroughbred Financial Services LLC raised its position in Medtronic by 10,079.7% during the second quarter. Thoroughbred Financial Services LLC now owns 1,044,944 shares of the medical technology company’s stock valued at $104,494,000 after purchasing an additional 1,034,679 shares in the last quarter. Boston Partners raised its position in Medtronic by 13.9% during the first quarter. Boston Partners now owns 8,405,239 shares of the medical technology company’s stock valued at $765,549,000 after purchasing an additional 1,028,238 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in Medtronic by 10.3% during the first quarter. California Public Employees Retirement System now owns 4,441,964 shares of the medical technology company’s stock valued at $404,574,000 after purchasing an additional 413,760 shares in the last quarter. Institutional investors own 80.62% of the company’s stock.

Shares of MDT traded up $0.76 during trading hours on Wednesday, hitting $107.67. The company had a trading volume of 209,308 shares, compared to its average volume of 4,161,898. The firm has a market cap of $137.82 billion, a P/E ratio of 20.63, a P/E/G ratio of 2.63 and a beta of 0.67. The stock’s 50 day moving average price is $101.11 and its 200 day moving average price is $93.77. The company has a quick ratio of 2.15, a current ratio of 2.59 and a debt-to-equity ratio of 0.49. Medtronic PLC has a 52-week low of $81.66 and a 52-week high of $109.70.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.08. The firm had revenue of $7.49 billion for the quarter, compared to the consensus estimate of $7.40 billion. Medtronic had a return on equity of 14.16% and a net margin of 15.15%. The company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.17 earnings per share. On average, research analysts expect that Medtronic PLC will post 5.48 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Monday, July 8th were paid a $0.54 dividend. The ex-dividend date of this dividend was Friday, July 5th. This is a boost from Medtronic’s previous quarterly dividend of $0.50. This represents a $2.16 annualized dividend and a dividend yield of 2.01%. Medtronic’s dividend payout ratio (DPR) is presently 41.38%.

A number of research firms have weighed in on MDT. Raymond James raised their price target on Medtronic from $105.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday. Needham & Company LLC restated a “buy” rating on shares of Medtronic in a research report on Tuesday, July 23rd. Northland Securities restated a “hold” rating and set a $100.00 price target on shares of Medtronic in a research report on Wednesday. Deutsche Bank raised their price target on Medtronic from $100.00 to $111.00 and gave the company a “buy” rating in a research report on Monday. Finally, UBS Group raised their price target on Medtronic from $112.00 to $122.00 and gave the company a “buy” rating in a research report on Wednesday. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Medtronic presently has a consensus rating of “Buy” and an average target price of $111.82.

In related news, SVP Bradley E. Lerman sold 6,599 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $102.02, for a total value of $673,229.98. Following the sale, the senior vice president now directly owns 105,960 shares of the company’s stock, valued at $10,810,039.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Bradley E. Lerman sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $100.31, for a total value of $401,240.00. Following the completion of the sale, the senior vice president now directly owns 52,906 shares in the company, valued at $5,307,000.86. The disclosure for this sale can be found here. Insiders sold 95,701 shares of company stock worth $9,318,744 over the last three months. 0.28% of the stock is owned by insiders.

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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