Surevest LLC increased its stake in Medtronic plc (NYSE:MDT) by 9.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,230 shares of the medical technology company’s stock after acquiring an additional 2,834 shares during the period. Surevest LLC’s holdings in Medtronic were worth $3,453,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Balyasny Asset Management LLC grew its position in Medtronic by 31.4% in the second quarter. Balyasny Asset Management LLC now owns 282,590 shares of the medical technology company’s stock worth $25,914,000 after acquiring an additional 67,577 shares in the last quarter. Donaldson Capital Management LLC lifted its stake in Medtronic by 1.2% in the second quarter. Donaldson Capital Management LLC now owns 307,198 shares of the medical technology company’s stock worth $28,170,000 after purchasing an additional 3,523 shares during the last quarter. Brookstone Capital Management lifted its stake in Medtronic by 9.7% in the second quarter. Brookstone Capital Management now owns 3,225 shares of the medical technology company’s stock worth $296,000 after purchasing an additional 285 shares during the last quarter. APG Asset Management N.V. lifted its stake in Medtronic by 118.0% in the first quarter. APG Asset Management N.V. now owns 2,101,865 shares of the medical technology company’s stock worth $189,546,000 after purchasing an additional 1,137,886 shares during the last quarter. Finally, Cornerstone Wealth Management LLC lifted its stake in Medtronic by 10.5% in the third quarter. Cornerstone Wealth Management LLC now owns 4,698 shares of the medical technology company’s stock worth $488,000 after purchasing an additional 447 shares during the last quarter. Institutional investors own 79.90% of the company’s stock.

Several analysts have issued reports on the stock. Needham & Company LLC raised their price objective on shares of Medtronic from $113.00 to $124.00 and gave the stock a “buy” rating in a research note on Tuesday, August 25th. Oppenheimer reissued a “buy” rating and issued a $112.00 price objective on shares of Medtronic in a research note on Tuesday, August 25th. Citigroup lifted their price target on shares of Medtronic from $108.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, August 26th. Cowen reaffirmed a “buy” rating and set a $110.00 price target on shares of Medtronic in a research note on Tuesday, August 18th. Finally, Stifel Nicolaus raised shares of Medtronic from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a research note on Thursday, October 8th. Three analysts have rated the stock with a sell rating, three have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $116.69.

NYSE MDT traded up $2.61 on Friday, hitting $110.13. The stock had a trading volume of 6,405,628 shares, compared to its average volume of 5,819,849. The business’s fifty day moving average price is $105.71 and its 200 day moving average price is $98.59. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.87 and a quick ratio of 1.53. Medtronic plc has a 52-week low of $72.13 and a 52-week high of $122.15. The stock has a market cap of $148.04 billion, a price-to-earnings ratio of 33.68, a price-to-earnings-growth ratio of 3.56 and a beta of 0.67.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 25th. The medical technology company reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.41. Medtronic had a net margin of 15.80% and a return on equity of 10.47%. The business had revenue of $6.51 billion for the quarter, compared to analyst estimates of $5.48 billion. During the same period in the previous year, the company earned $1.26 earnings per share. The business’s revenue for the quarter was down 13.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Medtronic plc will post 3.94 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, September 25th were issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Thursday, September 24th. Medtronic’s dividend payout ratio is currently 50.54%.

In other news, EVP Hoedt Rob Ten sold 9,563 shares of the business’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $105.05, for a total transaction of $1,004,593.15. Following the sale, the executive vice president now directly owns 53,060 shares of the company’s stock, valued at $5,573,953. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Omar Ishrak sold 763 shares of the business’s stock in a transaction on Friday, October 9th. The shares were sold at an average price of $108.40, for a total transaction of $82,709.20. Following the sale, the chairman now directly owns 561,032 shares in the company, valued at $60,815,868.80. The disclosure for this sale can be found here. Insiders sold 41,326 shares of company stock worth $4,441,498 over the last ninety days. Corporate insiders own 0.52% of the company’s stock.

Medtronic Company 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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