Medtronic PLC (MDT) Shares Bought by Nichols & Pratt Advisers LLP MA

Nichols & Pratt Advisers LLP MA increased its position in Medtronic PLC (NYSE:MDT) by 1.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 108,372 shares of the medical technology company’s stock after purchasing an additional 1,811 shares during the quarter. Nichols & Pratt Advisers LLP MA’s holdings in Medtronic were worth $10,686,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Los Angeles Capital Management & Equity Research Inc. grew its stake in Medtronic by 185.3% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 275,677 shares of the medical technology company’s stock valued at $27,118,000 after buying an additional 179,040 shares during the last quarter. Pendal Group Ltd grew its stake in Medtronic by 28,068.1% in the 3rd quarter. Pendal Group Ltd now owns 3,177,643 shares of the medical technology company’s stock valued at $312,585,000 after buying an additional 3,166,362 shares during the last quarter. Warren Averett Asset Management LLC grew its stake in Medtronic by 15.0% in the 3rd quarter. Warren Averett Asset Management LLC now owns 4,848 shares of the medical technology company’s stock valued at $477,000 after buying an additional 633 shares during the last quarter. BP PLC grew its stake in Medtronic by 10.5% in the 3rd quarter. BP PLC now owns 168,000 shares of the medical technology company’s stock valued at $16,526,000 after buying an additional 16,000 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in Medtronic by 22.3% in the 3rd quarter. American Century Companies Inc. now owns 7,925,640 shares of the medical technology company’s stock valued at $779,645,000 after buying an additional 1,443,303 shares during the last quarter. 80.00% of the stock is currently owned by institutional investors.

In other news, EVP Geoffrey Martha sold 49,799 shares of the company’s stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $97.93, for a total transaction of $4,876,816.07. Following the completion of the sale, the executive vice president now owns 87,872 shares of the company’s stock, valued at approximately $8,605,304.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael J. Coyle sold 145,544 shares of the company’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $95.50, for a total transaction of $13,899,452.00. Following the sale, the executive vice president now directly owns 190,680 shares of the company’s stock, valued at approximately $18,209,940. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 268,678 shares of company stock valued at $25,818,353. 0.28% of the stock is currently owned by insiders.

Shares of NYSE:MDT opened at $94.12 on Thursday. Medtronic PLC has a 12-month low of $76.41 and a 12-month high of $100.15. The company has a market cap of $124.94 billion, a price-to-earnings ratio of 19.15, a price-to-earnings-growth ratio of 2.46 and a beta of 0.94. The company has a current ratio of 2.46, a quick ratio of 2.06 and a debt-to-equity ratio of 0.47.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 21st. The medical technology company reported $1.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.06. Medtronic had a net margin of 10.56% and a return on equity of 12.98%. The firm had revenue of $7.38 billion for the quarter, compared to analyst estimates of $7.24 billion. During the same quarter in the prior year, the business posted $1.12 EPS. The business’s revenue was down .1% compared to the same quarter last year. Equities analysts expect that Medtronic PLC will post 5.12 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, October 19th. Stockholders of record on Friday, September 28th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Thursday, September 27th. Medtronic’s dividend payout ratio (DPR) is presently 41.93%.

A number of research analysts recently commented on the stock. Oppenheimer reiterated a “buy” rating on shares of Medtronic in a research note on Friday, September 21st. BMO Capital Markets upped their price target on shares of Medtronic from $94.00 to $104.00 and gave the company an “outperform” rating in a research note on Wednesday, August 22nd. Royal Bank of Canada upped their price target on shares of Medtronic to $104.00 and gave the company an “outperform” rating in a research note on Wednesday, August 22nd. Argus upped their price target on shares of Medtronic from $108.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, October 8th. Finally, Zacks Investment Research upgraded shares of Medtronic from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a research note on Tuesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Medtronic has a consensus rating of “Buy” and an average price target of $102.58.

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About Medtronic

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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