Lipe & Dalton Lowers Holdings in Medtronic PLC (NYSE:MDT)

Lipe & Dalton decreased its stake in Medtronic PLC (NYSE:MDT) by 1.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,353 shares of the medical technology company’s stock after selling 200 shares during the quarter. Lipe & Dalton’s holdings in Medtronic were worth $1,398,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of MDT. Norges Bank purchased a new stake in shares of Medtronic in the fourth quarter worth about $1,120,279,000. BlackRock Inc. boosted its stake in shares of Medtronic by 7.9% in the first quarter. BlackRock Inc. now owns 106,778,084 shares of the medical technology company’s stock worth $9,725,349,000 after buying an additional 7,856,946 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Medtronic by 35.4% in the first quarter. Nordea Investment Management AB now owns 8,622,525 shares of the medical technology company’s stock worth $785,336,000 after buying an additional 2,255,412 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Medtronic by 23.0% in the fourth quarter. American Century Companies Inc. now owns 9,746,733 shares of the medical technology company’s stock worth $886,563,000 after buying an additional 1,821,093 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Medtronic by 10.2% in the fourth quarter. Geode Capital Management LLC now owns 16,690,207 shares of the medical technology company’s stock worth $1,515,557,000 after buying an additional 1,538,130 shares during the last quarter. Hedge funds and other institutional investors own 80.00% of the company’s stock.

MDT stock opened at $102.33 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.59 and a debt-to-equity ratio of 0.49. The firm has a 50 day moving average of $99.63. The stock has a market capitalization of $136.72 billion, a price-to-earnings ratio of 19.60, a PEG ratio of 2.61 and a beta of 0.67. Medtronic PLC has a 1 year low of $81.66 and a 1 year high of $103.95.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Thursday, May 23rd. The medical technology company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.07. The business had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.12 billion. Medtronic had a return on equity of 14.16% and a net margin of 15.15%. The business’s revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.42 earnings per share. Equities research analysts forecast that Medtronic PLC will post 5.47 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Monday, July 8th were given a $0.54 dividend. The ex-dividend date was Friday, July 5th. This is a positive change from Medtronic’s previous quarterly dividend of $0.50. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.11%. Medtronic’s dividend payout ratio is 41.38%.

MDT has been the subject of a number of analyst reports. Barclays upped their price target on Medtronic from $104.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Zacks Investment Research raised Medtronic from a “sell” rating to a “hold” rating in a report on Monday, May 20th. Northland Securities reaffirmed a “hold” rating and issued a $100.00 price target on shares of Medtronic in a report on Thursday, June 20th. Royal Bank of Canada reduced their price target on Medtronic to $100.00 and set an “outperform” rating for the company in a report on Tuesday, May 28th. Finally, Oppenheimer set a $110.00 price target on Medtronic and gave the stock a “buy” rating in a report on Monday, July 15th. Seven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Medtronic currently has an average rating of “Buy” and an average target price of $106.05.

In other news, SVP Richard Kuntz sold 3,438 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $101.12, for a total value of $347,650.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard H. Anderson purchased 10,900 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was bought at an average price of $92.40 per share, with a total value of $1,007,160.00. Following the completion of the transaction, the director now directly owns 89,912 shares of the company’s stock, valued at $8,307,868.80. The disclosure for this purchase can be found here. Insiders sold 91,701 shares of company stock valued at $8,917,504 over the last 90 days. Company insiders own 0.28% of the company’s stock.

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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