Swiss National Bank Reduces Stock Holdings in Medtronic PLC (NYSE:MDT)

Swiss National Bank trimmed its holdings in shares of Medtronic PLC (NYSE:MDT) by 2.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,970,863 shares of the medical technology company’s stock after selling 125,800 shares during the quarter. Swiss National Bank owned 0.37% of Medtronic worth $484,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Rocky Mountain Advisers LLC lifted its holdings in shares of Medtronic by 100.0% in the 2nd quarter. Rocky Mountain Advisers LLC now owns 400 shares of the medical technology company’s stock valued at $39,000 after buying an additional 200 shares during the period. Spectrum Management Group Inc. lifted its holdings in shares of Medtronic by 353.8% in the 1st quarter. Spectrum Management Group Inc. now owns 413 shares of the medical technology company’s stock valued at $38,000 after buying an additional 322 shares during the period. Mackey Komara & Dankovich LLC acquired a new position in shares of Medtronic in the 1st quarter valued at about $38,000. Motco lifted its holdings in shares of Medtronic by 159.3% in the 1st quarter. Motco now owns 516 shares of the medical technology company’s stock valued at $47,000 after buying an additional 317 shares during the period. Finally, Stuart Chaussee & Associates Inc. acquired a new position in shares of Medtronic in the 1st quarter valued at about $48,000. Hedge funds and other institutional investors own 80.65% of the company’s stock.

NYSE MDT traded up $1.16 during trading hours on Friday, reaching $102.91. The company’s stock had a trading volume of 2,289,264 shares, compared to its average volume of 4,209,665. The firm has a market capitalization of $137.33 billion, a price-to-earnings ratio of 19.71, a P/E/G ratio of 2.62 and a beta of 0.67. Medtronic PLC has a 1-year low of $81.66 and a 1-year high of $103.95. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.59 and a quick ratio of 2.15. The company’s 50-day moving average is $100.44 and its two-hundred day moving average is $93.48.



Medtronic (NYSE:MDT) last announced its earnings results on Thursday, May 23rd. The medical technology company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.07. Medtronic had a return on equity of 14.16% and a net margin of 15.15%. The business had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.12 billion. During the same quarter in the prior year, the firm earned $1.42 earnings per share. The business’s revenue was up .0% compared to the same quarter last year. Equities analysts forecast that Medtronic PLC will post 5.48 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 8th were issued a dividend of $0.54 per share. The ex-dividend date was Friday, July 5th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.10%. This is a boost from Medtronic’s previous quarterly dividend of $0.50. Medtronic’s dividend payout ratio is presently 41.38%.

Several equities analysts have recently issued reports on MDT shares. Oppenheimer set a $110.00 price objective on Medtronic and gave the company a “buy” rating in a report on Monday, July 15th. Zacks Investment Research raised Medtronic from a “sell” rating to a “hold” rating in a report on Monday, May 20th. Barclays upped their price target on Medtronic from $104.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Wells Fargo & Co raised Medtronic from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $100.00 to $110.00 in a report on Tuesday, June 4th. Finally, Royal Bank of Canada upped their price target on Medtronic to $110.00 and gave the stock an “outperform” rating in a report on Friday. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Medtronic presently has a consensus rating of “Buy” and an average price target of $106.86.

In other Medtronic news, EVP Hoedt Rob Ten sold 9,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $91.88, for a total transaction of $826,920.00. Following the completion of the transaction, the executive vice president now owns 58,785 shares of the company’s stock, valued at $5,401,165.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Bradley E. Lerman sold 4,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $100.31, for a total value of $401,240.00. Following the transaction, the senior vice president now directly owns 52,906 shares of the company’s stock, valued at approximately $5,307,000.86. The disclosure for this sale can be found here. Insiders have sold 95,701 shares of company stock valued at $9,318,744 in the last three months. Insiders own 0.28% of the company’s stock.

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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