ANTIPODES PARTNERS Ltd Raises Holdings in Medtronic PLC (NYSE:MDT)

ANTIPODES PARTNERS Ltd grew its position in shares of Medtronic PLC (NYSE:MDT) by 2.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 759,805 shares of the medical technology company’s stock after purchasing an additional 19,918 shares during the quarter. Medtronic makes up about 3.2% of ANTIPODES PARTNERS Ltd’s holdings, making the stock its 11th largest position. ANTIPODES PARTNERS Ltd owned 0.06% of Medtronic worth $69,674,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Evolution Wealth Advisors LLC grew its holdings in shares of Medtronic by 403.7% during the second quarter. Evolution Wealth Advisors LLC now owns 272 shares of the medical technology company’s stock worth $25,000 after purchasing an additional 218 shares during the last quarter. Price Wealth LLC grew its holdings in shares of Medtronic by 73.2% during the second quarter. Price Wealth LLC now owns 291 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 123 shares during the last quarter. Balentine LLC purchased a new position in shares of Medtronic during the first quarter worth about $33,000. Reilly Financial Advisors LLC grew its holdings in shares of Medtronic by 79.4% during the first quarter. Reilly Financial Advisors LLC now owns 375 shares of the medical technology company’s stock worth $34,000 after purchasing an additional 166 shares during the last quarter. Finally, Lion Street Advisors LLC purchased a new position in shares of Medtronic during the first quarter worth about $36,000. 81.01% of the stock is currently owned by institutional investors.

NYSE MDT traded up $0.01 during midday trading on Friday, hitting $96.48. The company had a trading volume of 5,154,028 shares, compared to its average volume of 4,376,060. The firm has a fifty day simple moving average of $93.73 and a two-hundred day simple moving average of $99.84. The stock has a market cap of $129.41 billion, a price-to-earnings ratio of 27.18, a P/E/G ratio of 3.65 and a beta of 0.67. Medtronic PLC has a fifty-two week low of $72.13 and a fifty-two week high of $122.15. The company has a quick ratio of 1.72, a current ratio of 2.13 and a debt-to-equity ratio of 0.43.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Thursday, May 21st. The medical technology company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.70). The firm had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.10 billion. Medtronic had a net margin of 16.56% and a return on equity of 12.17%. The company’s revenue for the quarter was down 26.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.54 earnings per share. As a group, equities analysts predict that Medtronic PLC will post 3.41 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, June 26th were given a dividend of $0.58 per share. This is a boost from Medtronic’s previous quarterly dividend of $0.54. The ex-dividend date was Thursday, June 25th. This represents a $2.32 annualized dividend and a dividend yield of 2.40%. Medtronic’s payout ratio is currently 50.54%.

In other news, SVP Carol A. Surface sold 2,000 shares of Medtronic stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $97.72, for a total transaction of $195,440.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.28% of the stock is owned by insiders.

A number of equities analysts recently issued reports on the company. Oppenheimer lowered their price target on Medtronic from $131.00 to $112.00 and set an “outperform” rating on the stock in a report on Friday, May 22nd. Sanford C. Bernstein reissued a “hold” rating and set a $112.00 price target on shares of Medtronic in a report on Thursday, April 23rd. CSFB reissued a “buy” rating and set a $117.00 price target on shares of Medtronic in a report on Saturday, May 23rd. DZ Bank lowered Medtronic from a “buy” rating to a “hold” rating and set a $92.00 price objective on the stock. in a report on Thursday, May 14th. Finally, UBS Group lowered their price objective on Medtronic from $130.00 to $118.00 and set a “buy” rating on the stock in a report on Friday, May 22nd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $113.55.

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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