Cullinan Associates Inc. Has $3.85 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Cullinan Associates Inc. trimmed its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 14.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,186 shares of the medical technology company's stock after selling 8,378 shares during the quarter. Cullinan Associates Inc.'s holdings in Medtronic were worth $3,849,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of MDT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Medtronic by 436.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company's stock worth $661,125,000 after purchasing an additional 5,975,110 shares during the period. Bank of Montreal Can grew its position in shares of Medtronic by 65.0% during the 3rd quarter. Bank of Montreal Can now owns 4,546,819 shares of the medical technology company's stock valued at $406,122,000 after buying an additional 1,790,483 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Medtronic by 58.4% in the third quarter. Janus Henderson Group PLC now owns 3,850,914 shares of the medical technology company's stock worth $346,705,000 after acquiring an additional 1,420,263 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Medtronic by 8,908.6% in the third quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company's stock worth $116,896,000 after acquiring an additional 1,284,002 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC grew its holdings in shares of Medtronic by 5,124.5% during the third quarter. Worldquant Millennium Advisors LLC now owns 1,035,708 shares of the medical technology company's stock valued at $93,245,000 after purchasing an additional 1,015,884 shares during the last quarter. Institutional investors own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MDT. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research note on Monday, November 18th. Royal Bank of Canada raised shares of Medtronic from a "sector perform" rating to an "outperform" rating and boosted their target price for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. Wells Fargo & Company cut their target price on Medtronic from $106.00 to $98.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 20th. Sanford C. Bernstein boosted their price target on Medtronic from $96.00 to $97.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Medtronic from $99.00 to $96.00 and set a "neutral" rating for the company in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $95.00.

Medtronic Stock Performance

Medtronic stock traded up $0.46 during trading hours on Tuesday, reaching $90.99. 5,193,094 shares of the company were exchanged, compared to its average volume of 7,546,100. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $93.08. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The stock has a 50-day moving average of $84.47 and a 200 day moving average of $86.16. The firm has a market cap of $116.67 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 2.57 and a beta of 0.84.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the prior year, the firm earned $1.25 EPS. Medtronic's quarterly revenue was up 5.2% compared to the same quarter last year. As a group, research analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.08%. Medtronic's payout ratio is presently 85.63%.

Insider Transactions at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the business's stock in a transaction on Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the transaction, the executive vice president now owns 40,979 shares of the company's stock, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Medtronic Profile

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.