Russell Investments Group Ltd. Has $207.91 Million Holdings in Medtronic PLC (MDT)

Russell Investments Group Ltd. grew its holdings in shares of Medtronic PLC (NYSE:MDT) by 2.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 2,118,012 shares of the medical technology company’s stock after acquiring an additional 55,147 shares during the quarter. Russell Investments Group Ltd. owned about 0.16% of Medtronic worth $207,907,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MDT. BlackRock Inc. lifted its holdings in shares of Medtronic by 2.1% in the second quarter. BlackRock Inc. now owns 97,867,667 shares of the medical technology company’s stock valued at $8,378,448,000 after buying an additional 1,966,789 shares during the period. Artisan Partners Limited Partnership lifted its holdings in shares of Medtronic by 4.2% in the second quarter. Artisan Partners Limited Partnership now owns 23,443,933 shares of the medical technology company’s stock valued at $2,007,035,000 after buying an additional 939,892 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Medtronic by 11.3% in the second quarter. Bank of New York Mellon Corp now owns 15,717,199 shares of the medical technology company’s stock valued at $1,345,549,000 after buying an additional 1,589,932 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Medtronic by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 8,884,401 shares of the medical technology company’s stock valued at $760,649,000 after buying an additional 394,973 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Medtronic by 2.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 5,364,517 shares of the medical technology company’s stock valued at $459,257,000 after buying an additional 114,365 shares during the period. Institutional investors own 80.14% of the company’s stock.

Several analysts have recently weighed in on the company. Royal Bank of Canada upped their price objective on Medtronic to $109.00 and gave the company an “outperform” rating in a report on Wednesday, October 3rd. Oppenheimer reaffirmed a “buy” rating on shares of Medtronic in a research report on Friday, September 21st. Argus boosted their target price on Medtronic from $108.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, October 8th. ValuEngine raised Medtronic from a “hold” rating to a “buy” rating in a research report on Friday, September 7th. Finally, Zacks Investment Research raised Medtronic from a “sell” rating to a “hold” rating in a research report on Thursday, August 23rd. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Medtronic presently has a consensus rating of “Buy” and a consensus price target of $102.21.



In other Medtronic news, Director Richard H. Anderson purchased 2,600 shares of the company’s stock in a transaction that occurred on Thursday, August 23rd. The shares were purchased at an average cost of $95.88 per share, with a total value of $249,288.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Geoffrey Martha sold 49,799 shares of the company’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $97.93, for a total value of $4,876,816.07. Following the transaction, the executive vice president now directly owns 87,872 shares in the company, valued at $8,605,304.96. The disclosure for this sale can be found here. Insiders have sold 268,678 shares of company stock worth $25,818,353 over the last three months. 0.28% of the stock is owned by insiders.

NYSE:MDT opened at $89.75 on Friday. The firm has a market cap of $121.21 billion, a P/E ratio of 18.58, a price-to-earnings-growth ratio of 2.38 and a beta of 0.92. Medtronic PLC has a 1-year low of $76.41 and a 1-year high of $100.15. The company has a current ratio of 2.46, a quick ratio of 2.06 and a debt-to-equity ratio of 0.47.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, August 21st. The medical technology company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.06. The firm 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%. Medtronic’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.12 earnings per share. Equities research analysts predict that Medtronic PLC will post 5.12 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 19th. Investors of record on Friday, September 28th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Thursday, September 27th. Medtronic’s payout ratio is 41.93%.

About Medtronic

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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