Calamos Advisors LLC Has $92.17 Million Position in Medtronic PLC (NYSE:MDT)

Calamos Advisors LLC reduced its holdings in Medtronic PLC (NYSE:MDT) by 26.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 848,565 shares of the medical technology company’s stock after selling 310,256 shares during the period. Calamos Advisors LLC owned approximately 0.06% of Medtronic worth $92,171,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Nachman Norwood & Parrott Inc increased its position in shares of Medtronic by 1.9% during the third quarter. Nachman Norwood & Parrott Inc now owns 5,400 shares of the medical technology company’s stock worth $587,000 after acquiring an additional 99 shares in the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. grew its position in Medtronic by 2.1% in the second quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 4,782 shares of the medical technology company’s stock valued at $466,000 after purchasing an additional 100 shares in the last quarter. Pekin Hardy Strauss Inc. grew its position in Medtronic by 1.5% in the second quarter. Pekin Hardy Strauss Inc. now owns 6,773 shares of the medical technology company’s stock valued at $660,000 after purchasing an additional 100 shares in the last quarter. Affiance Financial LLC grew its position in Medtronic by 1.3% in the third quarter. Affiance Financial LLC now owns 8,074 shares of the medical technology company’s stock valued at $877,000 after purchasing an additional 102 shares in the last quarter. Finally, Tradewinds Capital Management LLC grew its position in Medtronic by 46.2% in the third quarter. Tradewinds Capital Management LLC now owns 380 shares of the medical technology company’s stock valued at $41,000 after purchasing an additional 120 shares in the last quarter. Institutional investors and hedge funds own 81.14% of the company’s stock.

In other Medtronic news, EVP Hooman Hakami sold 82,877 shares of Medtronic stock in a transaction dated 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Bradley E. Lerman sold 4,000 shares of Medtronic stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $100.31, for a total transaction of $401,240.00. Following the completion of the sale, the senior vice president now 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 sold a total of 114,901 shares of company stock valued at $12,271,403 in the last quarter. Corporate insiders own 0.28% of the company’s stock.

Shares of NYSE MDT traded down $0.97 during mid-day trading on Monday, reaching $107.15. 107,754 shares of the company were exchanged, compared to its average volume of 3,897,857. The company’s 50-day simple moving average is $108.35 and its 200-day simple moving average is $98.68. The company has a quick ratio of 2.20, a current ratio of 2.67 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $145.58 billion, a P/E ratio of 20.52, a P/E/G ratio of 2.67 and a beta of 0.64. Medtronic PLC has a twelve month low of $81.66 and a twelve month high of $112.05.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, August 20th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping 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 company had revenue of $7.49 billion during the quarter, compared to analysts’ expectations of $7.40 billion. During the same quarter last year, the company posted $1.17 EPS. Medtronic’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, equities research analysts expect that Medtronic PLC will post 5.56 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, September 27th were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Thursday, September 26th. Medtronic’s dividend payout ratio (DPR) is 41.38%.

A number of research analysts recently weighed in on MDT shares. 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. BMO Capital Markets increased their price target on shares of Medtronic from $107.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Deutsche Bank increased their price target on shares of Medtronic from $100.00 to $111.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Royal Bank of Canada set a $110.00 price target on shares of Medtronic and gave the company a “buy” rating in a research note on Friday, August 16th. Finally, Wells Fargo & Co increased their price target on shares of Medtronic from $110.00 to $120.00 and gave the company an “outperform” rating in a research note 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 stock presently 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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