Medtronic plc (NYSE:MDT) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC trimmed its position in shares of Medtronic plc (NYSE:MDT) by 1.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,557 shares of the medical technology company’s stock after selling 243 shares during the period. Highland Capital Management LLC’s holdings in Medtronic were worth $2,192,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of MDT. Norges Bank acquired a new stake in shares of Medtronic during the fourth quarter valued at approximately $1,733,123,000. Price T Rowe Associates Inc. MD grew its position in Medtronic by 16.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,540,276 shares of the medical technology company’s stock worth $2,406,046,000 after acquiring an additional 2,880,467 shares in the last quarter. Nuveen Asset Management LLC grew its position in Medtronic by 25.0% in the fourth quarter. Nuveen Asset Management LLC now owns 9,536,420 shares of the medical technology company’s stock worth $1,117,096,000 after acquiring an additional 1,909,418 shares in the last quarter. Bank of New York Mellon Corp grew its position in Medtronic by 8.4% in the fourth quarter. Bank of New York Mellon Corp now owns 19,625,466 shares of the medical technology company’s stock worth $2,298,927,000 after acquiring an additional 1,527,582 shares in the last quarter. Finally, Morgan Stanley grew its position in Medtronic by 11.8% in the fourth quarter. Morgan Stanley now owns 11,560,485 shares of the medical technology company’s stock worth $1,354,194,000 after acquiring an additional 1,221,333 shares in the last quarter. 79.17% of the stock is owned by institutional investors.

Shares of Medtronic stock opened at $131.20 on Tuesday. The stock has a market capitalization of $176.87 billion, a P/E ratio of 50.08, a price-to-earnings-growth ratio of 3.65 and a beta of 0.70. The company has a quick ratio of 1.79, a current ratio of 2.16 and a debt-to-equity ratio of 0.52. The company has a 50-day simple moving average of $122.77 and a 200 day simple moving average of $116.16. Medtronic plc has a 12-month low of $87.68 and a 12-month high of $132.30.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 23rd. The medical technology company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.14. Medtronic had a net margin of 12.69% and a return on equity of 9.71%. The firm had revenue of $7.78 billion during the quarter, compared to analysts’ expectations of $7.77 billion. During the same quarter last year, the company posted $1.44 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. On average, equities analysts anticipate that Medtronic plc will post 4.21 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, April 16th. Shareholders of record on Friday, March 26th were issued a dividend of $0.58 per share. The ex-dividend date was Thursday, March 25th. This represents a $2.32 annualized dividend and a yield of 1.77%. Medtronic’s dividend payout ratio (DPR) is currently 50.54%.

MDT has been the subject of several recent analyst reports. Atlantic Securities initiated coverage on shares of Medtronic in a report on Wednesday, April 21st. They set an “overweight” rating and a $153.00 price objective for the company. SVB Leerink upped their price objective on shares of Medtronic from $123.00 to $129.00 and gave the stock a “market perform” rating in a report on Tuesday, March 2nd. Credit Suisse Group increased their price target on shares of Medtronic from $126.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, March 3rd. Cowen increased their price target on shares of Medtronic from $120.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, February 24th. Finally, Stifel Nicolaus increased their price target on shares of Medtronic from $132.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, March 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $124.30.

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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