Virginia Retirement Systems ET AL Sells 3,000 Shares of Medtronic PLC (NYSE:MDT)

Virginia Retirement Systems ET AL lowered its stake in shares of Medtronic PLC (NYSE:MDT) by 2.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 149,400 shares of the medical technology company’s stock after selling 3,000 shares during the period. Virginia Retirement Systems ET AL’s holdings in Medtronic were worth $14,550,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of MDT. BlackRock Inc. grew its position in Medtronic by 7.9% during the first quarter. BlackRock Inc. now owns 106,778,084 shares of the medical technology company’s stock valued at $9,725,349,000 after buying an additional 7,856,946 shares during the period. Nordea Investment Management AB grew its position in Medtronic by 35.4% during the first quarter. Nordea Investment Management AB now owns 8,622,525 shares of the medical technology company’s stock valued at $785,336,000 after buying an additional 2,255,412 shares during the period. Geode Capital Management LLC grew its position in Medtronic by 10.2% during the fourth quarter. Geode Capital Management LLC now owns 16,690,207 shares of the medical technology company’s stock valued at $1,515,557,000 after buying an additional 1,538,130 shares during the period. Thoroughbred Financial Services LLC grew its position in Medtronic by 10,079.7% during the second quarter. Thoroughbred Financial Services LLC now owns 1,044,944 shares of the medical technology company’s stock valued at $104,494,000 after buying an additional 1,034,679 shares during the period. Finally, Boston Partners grew its position in Medtronic by 13.9% during the first quarter. Boston Partners now owns 8,405,239 shares of the medical technology company’s stock valued at $765,549,000 after buying an additional 1,028,238 shares during the period. Institutional investors own 80.08% of the company’s stock.

In other news, SVP Richard Kuntz sold 3,438 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $101.12, for a total value of $347,650.56. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Hoedt Rob Ten sold 9,000 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $91.88, for a total transaction of $826,920.00. Following the completion of the sale, the executive vice president now directly owns 58,785 shares in the company, valued at $5,401,165.80. The disclosure for this sale can be found here. Insiders have sold 95,701 shares of company stock valued at $9,318,744 in the last quarter. Company insiders own 0.28% of the company’s stock.

Several equities analysts recently weighed in on the stock. Northland Securities restated a “hold” rating and set a $100.00 price target on shares of Medtronic in a research report on Thursday, June 20th. Barclays increased their price target on shares of Medtronic from $104.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Royal Bank of Canada reduced their price target on shares of Medtronic to $100.00 and set an “outperform” rating for the company in a research report on Tuesday, May 28th. Needham & Company LLC restated a “buy” rating on shares of Medtronic in a research report on Tuesday, July 23rd. Finally, ValuEngine lowered shares of Medtronic from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $106.05.

NYSE:MDT traded down $0.71 on Wednesday, reaching $100.53. 114,420 shares of the company’s stock were exchanged, compared to its average volume of 4,038,101. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.15 and a current ratio of 2.59. The firm has a market capitalization of $134.84 billion, a price-to-earnings ratio of 19.32, a price-to-earnings-growth ratio of 2.62 and a beta of 0.67. Medtronic PLC has a 52 week low of $81.66 and a 52 week high of $103.95. The company has a fifty day moving average of $99.93.

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

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 8th were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend was Friday, July 5th. This is a positive change from Medtronic’s previous quarterly dividend of $0.50. Medtronic’s dividend payout ratio (DPR) is currently 41.38%.

Medtronic Profile

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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