Medtronic PLC (MDT) Position Raised by Gamble Jones Investment Counsel

Gamble Jones Investment Counsel increased its position in shares of Medtronic PLC (NYSE:MDT) by 34.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,647 shares of the medical technology company’s stock after purchasing an additional 2,965 shares during the period. Gamble Jones Investment Counsel’s holdings in Medtronic were worth $1,146,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MDT. BlackRock Inc. increased its holdings in shares of Medtronic by 2.1% in the second quarter. BlackRock Inc. now owns 97,867,667 shares of the medical technology company’s stock valued at $8,378,448,000 after buying an additional 1,966,789 shares in the last quarter. Artisan Partners Limited Partnership increased its holdings in shares of Medtronic by 4.2% in the second quarter. Artisan Partners Limited Partnership now owns 23,443,933 shares of the medical technology company’s stock valued at $2,007,035,000 after buying an additional 939,892 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Medtronic by 11.3% in the second quarter. Bank of New York Mellon Corp now owns 15,717,199 shares of the medical technology company’s stock valued at $1,345,549,000 after buying an additional 1,589,932 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Medtronic by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 8,884,401 shares of the medical technology company’s stock valued at $760,649,000 after buying an additional 394,973 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Medtronic by 22.3% in the third 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 in the last quarter. 80.00% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:MDT opened at $94.36 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.06 and a current ratio of 2.46. Medtronic PLC has a 12-month low of $76.41 and a 12-month high of $100.15. The firm has a market cap of $127.95 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 2.52 and a beta of 0.94.

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, beating the 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 company had revenue of $7.38 billion for the quarter, compared to the consensus estimate of $7.24 billion. During the same period in the previous year, the business earned $1.12 EPS. The company’s revenue was down .1% on a year-over-year basis. On average, sell-side analysts forecast that Medtronic PLC will post 5.12 earnings per share for the current fiscal year.

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

In other Medtronic news, EVP Michael J. Coyle sold 145,544 shares of the business’s stock in a transaction on Wednesday, August 22nd. The shares were 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard H. Anderson purchased 2,600 shares of the stock in a transaction dated Thursday, August 23rd. The shares were bought at an average price of $95.88 per share, for a total transaction of $249,288.00. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 268,678 shares of company stock worth $25,818,353. Company insiders own 0.28% of the company’s stock.

Several research analysts have issued reports on MDT shares. SunTrust Banks upped their price target on Medtronic to $110.00 and gave the company a “buy” rating in a report on Friday, August 24th. Citigroup upped their price target on Medtronic from $104.00 to $109.00 and gave the company a “buy” rating in a report on Friday, August 24th. Bank of America upped their price target on Medtronic from $98.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, August 22nd. Oppenheimer reaffirmed a “buy” rating and issued a $104.00 price target on shares of Medtronic in a report on Tuesday, August 21st. Finally, Argus upped their price target on Medtronic from $95.00 to $108.00 and gave the company a “buy” rating in a report on Monday, August 27th. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Medtronic currently has a consensus rating of “Buy” and an average target price 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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