Heritage Investors Management Corp Reduces Position in Medtronic plc (NYSE:MDT)

Heritage Investors Management Corp trimmed its position in Medtronic plc (NYSE:MDT) by 4.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,992 shares of the medical technology company’s stock after selling 3,562 shares during the quarter. Heritage Investors Management Corp’s holdings in Medtronic were worth $5,990,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Medtronic by 436.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company’s stock worth $661,125,000 after purchasing an additional 5,975,110 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Medtronic by 2,043.4% in the 4th quarter. Van ECK Associates Corp now owns 2,598,150 shares of the medical technology company’s stock worth $207,540,000 after buying an additional 2,476,935 shares during the period. Bank of Montreal Can grew its position in shares of Medtronic by 65.0% in the 3rd quarter. Bank of Montreal Can now owns 4,546,819 shares of the medical technology company’s stock worth $406,122,000 after buying an additional 1,790,483 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Medtronic by 58.4% during the third quarter. Janus Henderson Group PLC now owns 3,850,914 shares of the medical technology company’s stock valued at $346,705,000 after acquiring an additional 1,420,263 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC lifted its stake in Medtronic by 5,124.5% in the third quarter. Worldquant Millennium Advisors LLC now owns 1,035,708 shares of the medical technology company’s stock worth $93,245,000 after acquiring an additional 1,015,884 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Up 0.1 %

NYSE:MDT opened at $90.58 on Thursday. The firm has a 50-day simple moving average of $86.65 and a two-hundred day simple moving average of $87.32. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $93.08. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The firm has a market cap of $116.15 billion, a P/E ratio of 27.53, a P/E/G ratio of 2.22 and a beta of 0.84.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The business had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.33 billion. Analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.09%. Medtronic’s dividend payout ratio (DPR) is presently 85.11%.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the sale, the executive vice president now owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on MDT. Sanford C. Bernstein upped their price objective on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Robert W. Baird increased their price target on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. UBS Group increased their target price on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. lowered their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $95.00.

Medtronic Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.