Brinker Capital Inc. Raises Position in Medtronic PLC (NYSE:MDT)

Brinker Capital Inc. boosted its stake in Medtronic PLC (NYSE:MDT) by 0.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,808 shares of the medical technology company’s stock after buying an additional 302 shares during the quarter. Brinker Capital Inc.’s holdings in Medtronic were worth $11,284,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Medtronic by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 112,334,285 shares of the medical technology company’s stock worth $10,940,236,000 after purchasing an additional 640,083 shares in the last quarter. BlackRock Inc. lifted its stake in Medtronic by 0.4% in the 2nd quarter. BlackRock Inc. now owns 107,191,111 shares of the medical technology company’s stock worth $10,439,341,000 after purchasing an additional 413,027 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Medtronic by 2.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 22,211,176 shares of the medical technology company’s stock worth $2,163,147,000 after purchasing an additional 516,915 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake 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 in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Medtronic by 4.6% in the 2nd quarter. Wells Fargo & Company MN now owns 14,350,496 shares of the medical technology company’s stock worth $1,397,595,000 after purchasing an additional 635,871 shares in the last quarter. 81.14% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP Hooman Hakami sold 82,877 shares of Medtronic stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $107.31, for a total value of $8,893,530.87. Following the completion of the sale, the executive vice president now owns 30,761 shares in the company, valued at approximately $3,300,962.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Richard Kuntz sold 21,425 shares of Medtronic stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $107.51, for a total transaction of $2,303,401.75. Following the completion of the sale, the senior vice president now owns 78,916 shares of the company’s stock, valued at approximately $8,484,259.16. The disclosure for this sale can be found here. Insiders sold a total of 114,901 shares of company stock valued at $12,271,403 in the last quarter. 0.28% of the stock is owned by insiders.

Shares of NYSE MDT traded down $0.85 during midday trading on Monday, reaching $107.27. 97,297 shares of the stock were exchanged, compared to its average volume of 3,897,857. The company has a 50 day simple moving average of $108.35 and a 200 day simple moving average of $98.68. The stock has a market capitalization of $145.58 billion, a P/E ratio of 20.53, a PEG ratio of 2.67 and a beta of 0.64. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.20 and a current ratio of 2.67. Medtronic PLC has a twelve month low of $81.66 and a twelve month high of $112.05.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.08. Medtronic had a net margin of 14.41% and a return on equity of 14.36%. The business had revenue of $7.49 billion during the quarter, compared to the consensus estimate of $7.40 billion. During the same quarter last year, the firm earned $1.17 EPS. The business’s revenue was up 1.5% compared to the same quarter last year. On average, research analysts expect that Medtronic PLC will post 5.56 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, September 27th were issued a $0.54 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $2.16 annualized dividend and a yield of 2.01%. Medtronic’s dividend payout ratio (DPR) is presently 41.38%.

MDT has been the topic of a number of research reports. Northland Securities reissued a “hold” rating and issued a $100.00 target price on shares of Medtronic in a research note on Wednesday, August 21st. Morgan Stanley raised their target price on shares of Medtronic from $105.00 to $111.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 21st. ValuEngine downgraded shares of Medtronic from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Royal Bank of Canada set a $110.00 price target on shares of Medtronic and gave the stock a “buy” rating in a report on Friday, August 16th. Finally, Wells Fargo & Co raised their price target on shares of Medtronic from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $113.84.

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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