Sustainable Insight Capital Management LLC Acquires Shares of 10,600 Medtronic PLC (NYSE:MDT)

Sustainable Insight Capital Management LLC purchased a new stake in Medtronic PLC (NYSE:MDT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 10,600 shares of the medical technology company’s stock, valued at approximately $964,000. Medtronic accounts for about 1.3% of Sustainable Insight Capital Management LLC’s investment portfolio, making the stock its 23rd biggest holding.

Several other large investors have also recently added to or reduced their stakes in MDT. QS Investors LLC increased its holdings in Medtronic by 1.2% in the 4th quarter. QS Investors LLC now owns 66,305 shares of the medical technology company’s stock valued at $6,032,000 after buying an additional 784 shares during the period. Edmond DE Rothschild Holding S.A. increased its holdings in Medtronic by 37.9% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 223,006 shares of the medical technology company’s stock valued at $20,284,000 after buying an additional 61,322 shares during the period. PRW Wealth Management LLC bought a new stake in Medtronic in the 4th quarter valued at $986,000. Kiwi Wealth Investments Limited Partnership bought a new stake in Medtronic in the 4th quarter valued at $14,082,000. Finally, Stamos Capital Partners L.P. bought a new stake in Medtronic in the 4th quarter valued at $819,000. 81.50% of the stock is currently owned by institutional investors.

Shares of MDT stock traded up $0.12 on Monday, reaching $86.87. The company had a trading volume of 5,815,800 shares, compared to its average volume of 5,969,145. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.36 and a quick ratio of 1.92. The stock has a market cap of $116.69 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 2.28 and a beta of 0.81. Medtronic PLC has a 12 month low of $78.29 and a 12 month high of $100.15.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, February 19th. The medical technology company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.05. The company had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.53 billion. Medtronic had a return on equity of 13.85% and a net margin of 16.10%. Medtronic’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.17 EPS. As a group, research analysts anticipate that Medtronic PLC will post 5.15 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.30%. Medtronic’s dividend payout ratio (DPR) is presently 41.93%.

Several equities research analysts have recently commented on the stock. Wells Fargo & Co reduced their target price on shares of Medtronic from $101.00 to $100.00 and set a “market perform” rating on the stock in a research note on Thursday, April 4th. Northland Securities restated a “hold” rating and issued a $84.00 target price on shares of Medtronic in a research note on Monday, March 18th. Citigroup boosted their target price on shares of Medtronic from $95.00 to $101.00 and gave the company a “neutral” rating in a research note on Monday, February 25th. Barclays restated a “buy” rating and issued a $104.00 target price on shares of Medtronic in a research note on Wednesday, February 20th. Finally, Oppenheimer set a $104.00 target price on shares of Medtronic and gave the company a “buy” rating in a research note on Wednesday, February 20th. Ten analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $103.39.

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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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