Northside Capital Management LLC Purchases New Position in Medtronic PLC (NYSE:MDT)

Northside Capital Management LLC purchased a new stake in shares of Medtronic PLC (NYSE:MDT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,673 shares of the medical technology company’s stock, valued at approximately $616,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Nuveen Asset Management LLC grew its position in Medtronic by 12,846.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 8,157,866 shares of the medical technology company’s stock worth $794,495,000 after purchasing an additional 8,094,852 shares during the period. Longview Partners Guernsey LTD grew its position in Medtronic by 46.0% in the 2nd quarter. Longview Partners Guernsey LTD now owns 8,843,721 shares of the medical technology company’s stock worth $861,290,000 after purchasing an additional 2,787,443 shares during the period. Nordea Investment Management AB grew its position in Medtronic by 35.4% in the 1st quarter. Nordea Investment Management AB now owns 8,622,525 shares of the medical technology company’s stock worth $785,336,000 after purchasing an additional 2,255,412 shares during the period. Renaissance Technologies LLC bought a new stake in Medtronic in the 2nd quarter worth approximately $214,895,000. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its position in Medtronic by 9.4% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,499,865 shares of the medical technology company’s stock worth $1,412,142,000 after purchasing an additional 1,251,830 shares during the period. 81.03% of the stock is owned by institutional investors.

Shares of MDT stock traded up $0.65 during mid-day trading on Friday, reaching $108.07. 149,159 shares of the company’s stock traded hands, compared to its average volume of 4,680,946. Medtronic PLC has a 12 month low of $81.66 and a 12 month high of $112.05. The firm has a 50 day moving average price of $108.18 and a two-hundred day moving average price of $97.98. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.20 and a current ratio of 2.67. The firm has a market capitalization of $140.89 billion, a PE ratio of 20.70, a price-to-earnings-growth ratio of 2.58 and a beta of 0.64.



Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.08. Medtronic had a net margin of 14.41% and a return on equity of 14.36%. The firm had revenue of $7.49 billion during the quarter, compared to the consensus estimate of $7.40 billion. During the same quarter in the previous year, the firm posted $1.17 EPS. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, equities analysts expect that Medtronic PLC will post 5.56 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, September 27th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Thursday, September 26th. Medtronic’s payout ratio is 41.38%.

In other news, SVP Richard Kuntz sold 3,438 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $101.12, for a total transaction of $347,650.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Hooman Hakami sold 82,877 shares of Medtronic stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $107.31, for a total transaction of $8,893,530.87. Following the transaction, the executive vice president now owns 30,761 shares in the company, valued at approximately $3,300,962.91. The disclosure for this sale can be found here. In the last three months, insiders have sold 118,339 shares of company stock valued at $12,619,053. Insiders own 0.28% of the company’s stock.

A number of equities research analysts have commented on MDT shares. Barclays lifted their target price on shares of Medtronic from $110.00 to $117.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Bank of America set a $118.00 target price on shares of Medtronic and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Northland Securities reaffirmed a “hold” rating and issued a $100.00 target price on shares of Medtronic in a research report on Wednesday, August 21st. BTIG Research lifted their target price on shares of Medtronic to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, Oppenheimer lifted their target price on shares of Medtronic from $110.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Medtronic currently has a consensus rating of “Buy” and a consensus target price of $113.84.

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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