Medtronic plc (NYSE:MDT) Shares Purchased by Stokes Capital Advisors LLC

Stokes Capital Advisors LLC increased its stake in shares of Medtronic plc (NYSE:MDT) by 1.6% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 35,994 shares of the medical technology company’s stock after acquiring an additional 552 shares during the period. Medtronic makes up approximately 1.8% of Stokes Capital Advisors LLC’s holdings, making the stock its 25th largest holding. Stokes Capital Advisors LLC’s holdings in Medtronic were worth $3,740,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Nordea Investment Management AB raised its position in shares of Medtronic by 119.7% in the 2nd quarter. Nordea Investment Management AB now owns 19,803,840 shares of the medical technology company’s stock valued at $1,770,662,000 after purchasing an additional 10,788,699 shares in the last quarter. BlackRock Inc. raised its position in shares of Medtronic by 4.1% in the 2nd quarter. BlackRock Inc. now owns 111,209,886 shares of the medical technology company’s stock valued at $10,197,948,000 after purchasing an additional 4,352,426 shares in the last quarter. Two Sigma Advisers LP raised its position in shares of Medtronic by 393.8% in the 2nd quarter. Two Sigma Advisers LP now owns 1,574,920 shares of the medical technology company’s stock valued at $144,420,000 after purchasing an additional 1,255,988 shares in the last quarter. APG Asset Management N.V. raised its position in shares of Medtronic by 118.0% in the 1st quarter. APG Asset Management N.V. now owns 2,101,865 shares of the medical technology company’s stock valued at $189,546,000 after purchasing an additional 1,137,886 shares in the last quarter. Finally, Sarasin & Partners LLP raised its position in shares of Medtronic by 163.8% in the 2nd quarter. Sarasin & Partners LLP now owns 1,343,315 shares of the medical technology company’s stock valued at $123,182,000 after purchasing an additional 834,189 shares in the last quarter. 79.90% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CFO Karen L. Parkhill sold 702 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $107.78, for a total transaction of $75,661.56. Following the completion of the sale, the chief financial officer now directly owns 87,366 shares of the company’s stock, valued at $9,416,307.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Hoedt Rob Ten sold 9,563 shares of the company’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $105.05, for a total value of $1,004,593.15. Following the sale, the executive vice president now directly owns 53,060 shares of the company’s stock, valued at $5,573,953. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,326 shares of company stock valued at $4,441,498. 0.52% of the stock is currently owned by company insiders.

MDT has been the topic of a number of recent analyst reports. Morgan Stanley upped their target price on Medtronic from $106.00 to $111.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 26th. Raymond James boosted their price target on Medtronic from $107.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, August 26th. Zacks Investment Research downgraded Medtronic from a “hold” rating to a “strong sell” rating and set a $84.00 price target for the company. in a report on Wednesday, July 29th. Stifel Nicolaus upgraded Medtronic from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a report on Thursday, October 8th. Finally, Oppenheimer reiterated a “buy” rating and issued a $112.00 price target on shares of Medtronic in a report on Tuesday, August 25th. Three research analysts have rated the stock with a sell rating, three have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $116.69.

Shares of Medtronic stock opened at $110.13 on Friday. The company has a quick ratio of 1.53, a current ratio of 1.87 and a debt-to-equity ratio of 0.45. The firm has a market cap of $148.04 billion, a price-to-earnings ratio of 33.68, a price-to-earnings-growth ratio of 3.56 and a beta of 0.67. The business has a fifty day simple moving average of $105.71 and a 200-day simple moving average of $98.59. Medtronic plc has a fifty-two week low of $72.13 and a fifty-two week high of $122.15.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 25th. The medical technology company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.41. The business had revenue of $6.51 billion during the quarter, compared to analyst estimates of $5.48 billion. Medtronic had a return on equity of 10.47% and a net margin of 15.80%. The company’s revenue was down 13.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.26 earnings per share. Analysts anticipate that Medtronic plc will post 3.94 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, September 25th were issued a $0.58 dividend. The ex-dividend date of this dividend was Thursday, September 24th. This represents a $2.32 annualized dividend and a dividend yield of 2.11%. Medtronic’s dividend payout ratio (DPR) is 50.54%.

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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