Rhumbline Advisers Has $203.13 Million Stock Position in Medtronic plc (NYSE:MDT)

Rhumbline Advisers grew its holdings in Medtronic plc (NYSE:MDT) by 0.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,542,938 shares of the medical technology company’s stock after acquiring an additional 7,596 shares during the quarter. Rhumbline Advisers’ holdings in Medtronic were worth $203,130,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MDT. Copley Financial Group Inc. acquired a new position in shares of Medtronic during the 3rd quarter worth approximately $694,000. Olstein Capital Management L.P. raised its position in shares of Medtronic by 19.2% in the third quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock valued at $7,833,000 after buying an additional 14,000 shares in the last quarter. Franklin Street Advisors Inc. NC boosted its stake in shares of Medtronic by 32.6% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company’s stock valued at $5,873,000 after buying an additional 18,057 shares during the period. Y Intercept Hong Kong Ltd grew its position in Medtronic by 322.6% during the third quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company’s stock worth $6,626,000 after buying an additional 56,178 shares in the last quarter. Finally, Czech National Bank increased its stake in Medtronic by 6.4% during the 4th quarter. Czech National Bank now owns 278,065 shares of the medical technology company’s stock worth $22,212,000 after acquiring an additional 16,786 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MDT. Robert W. Baird cut their target price on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. JPMorgan Chase & Co. cut their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Sanford C. Bernstein raised their target price on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Wells Fargo & Company cut their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Finally, Barclays lifted their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $95.00.

Medtronic Trading Up 0.9 %

NYSE MDT opened at $93.02 on Friday. The company has a market cap of $119.28 billion, a price-to-earnings ratio of 28.45, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $93.08. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The business’s fifty day moving average is $85.33 and its 200 day moving average is $86.72.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same period last year, the firm posted $1.25 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, sell-side analysts expect that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is currently 85.63%.

Insider Activity

In other news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the transaction, the executive vice president now directly owns 40,979 shares in the company, valued at $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

About Medtronic

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.