Medtronic plc (NYSE:MDT) Stock Position Raised by XML Financial LLC

XML Financial LLC increased its stake in Medtronic plc (NYSE:MDTGet Rating) by 193.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,259 shares of the medical technology company’s stock after acquiring an additional 8,087 shares during the quarter. XML Financial LLC’s holdings in Medtronic were worth $990,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Legal & General Group Plc grew its holdings in shares of Medtronic by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 10,400,960 shares of the medical technology company’s stock worth $933,492,000 after acquiring an additional 292,575 shares during the last quarter. Amundi grew its holdings in shares of Medtronic by 23.4% in the 2nd quarter. Amundi now owns 8,894,470 shares of the medical technology company’s stock worth $778,357,000 after acquiring an additional 1,689,473 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Medtronic by 1.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,801,196 shares of the medical technology company’s stock worth $754,593,000 after acquiring an additional 128,661 shares during the last quarter. Dodge & Cox grew its holdings in shares of Medtronic by 0.4% during the second quarter. Dodge & Cox now owns 4,594,999 shares of the medical technology company’s stock valued at $412,401,000 after buying an additional 17,593 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Medtronic by 4.3% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,525,318 shares of the medical technology company’s stock valued at $406,147,000 after buying an additional 185,302 shares in the last quarter. 80.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Medtronic

In related news, EVP Sean Salmon sold 16,631 shares of the business’s stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $80.50, for a total transaction of $1,338,795.50. Following the transaction, the executive vice president now directly owns 36,088 shares in the company, valued at $2,905,084. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Medtronic Price Performance

NYSE MDT opened at $80.80 on Wednesday. Medtronic plc has a twelve month low of $75.76 and a twelve month high of $114.31. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.41 and a current ratio of 1.76. The stock has a market capitalization of $107.48 billion, a PE ratio of 25.09, a P/E/G ratio of 2.02 and a beta of 0.72. The stock has a 50-day simple moving average of $78.88 and a 200 day simple moving average of $84.57.

Medtronic (NYSE:MDTGet Rating) last posted its quarterly earnings data on Tuesday, November 22nd. The medical technology company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.02. Medtronic had a return on equity of 13.52% and a net margin of 14.03%. The business had revenue of $7.59 billion during the quarter, compared to analysts’ expectations of $7.70 billion. During the same quarter in the previous year, the firm earned $1.32 EPS. The firm’s revenue was down 3.3% compared to the same quarter last year. Research analysts anticipate that Medtronic plc will post 5.26 EPS for the current year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Wednesday, December 21st were paid a dividend of $0.68 per share. The ex-dividend date was Tuesday, December 20th. This represents a $2.72 annualized dividend and a yield of 3.37%. Medtronic’s dividend payout ratio is 84.47%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MDT. Jefferies Financial Group began coverage on Medtronic in a report on Wednesday, October 12th. They set a “hold” rating and a $87.00 price target on the stock. Cowen lowered their price target on Medtronic from $117.00 to $90.00 in a report on Wednesday, November 23rd. Deutsche Bank Aktiengesellschaft reduced their price objective on Medtronic from $85.00 to $80.00 in a research report on Wednesday, November 23rd. Stifel Nicolaus reduced their price objective on Medtronic from $105.00 to $90.00 in a research report on Wednesday, November 23rd. Finally, StockNews.com started coverage on Medtronic in a research report on Wednesday, October 12th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $94.25.

Medtronic Company Profile

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Medtronic Plc is a medical technology company, which engages in the development, manufacture, distribution, and sale of device-based medical therapies and services. It operates through the following segments: Cardiovascular Porrtfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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