Geode Capital Management LLC Sells 374,827 Shares of Medtronic plc (NYSE:MDT)

Geode Capital Management LLC lessened its holdings in Medtronic plc (NYSE:MDT - Free Report) by 1.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,482,162 shares of the medical technology company's stock after selling 374,827 shares during the period. Geode Capital Management LLC owned approximately 2.06% of Medtronic worth $2,375,156,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MDT. State Street Corp grew its position in Medtronic by 0.9% in the third quarter. State Street Corp now owns 60,731,367 shares of the medical technology company's stock valued at $5,509,155,000 after acquiring an additional 520,027 shares during the period. Pzena Investment Management LLC grew its holdings in shares of Medtronic by 3.3% in the 3rd quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company's stock worth $772,727,000 after purchasing an additional 275,870 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Medtronic by 436.7% during the 3rd 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 in the last quarter. Dimensional Fund Advisors LP boosted its position in Medtronic by 7.8% in the second quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company's stock valued at $560,494,000 after buying an additional 515,751 shares in the last quarter. Finally, Raymond James & Associates boosted its position in Medtronic by 2.3% in the third quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company's stock valued at $575,460,000 after buying an additional 145,504 shares in the last quarter. Institutional investors own 82.06% of the company's stock.

Medtronic Stock Down 0.5 %

Medtronic stock traded down $0.38 during mid-day trading on Tuesday, reaching $83.58. The company's stock had a trading volume of 5,093,833 shares, compared to its average volume of 6,251,088. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $92.68. The business's 50 day simple moving average is $88.13 and its 200 day simple moving average is $85.01. The company has a market capitalization of $107.17 billion, a price-to-earnings ratio of 25.56, a price-to-earnings-growth ratio of 2.38 and a beta of 0.82.

Medtronic (NYSE:MDT - Get Free Report) 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 net margin of 13.00% and a return on equity of 13.79%. The firm had revenue of $8.40 billion during the quarter, compared to analysts' expectations of $8.27 billion. During the same quarter last year, the company posted $1.25 earnings per share. The company's revenue for the quarter 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 business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.35%. Medtronic's dividend payout ratio (DPR) is currently 85.63%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Sanford C. Bernstein lifted their price objective on Medtronic from $96.00 to $97.00 and gave the company an "outperform" rating in a research report on Wednesday, November 20th. Robert W. Baird dropped 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. Stifel Nicolaus upped their target price on shares of Medtronic from $85.00 to $87.00 and gave the company a "hold" rating in a research report on Wednesday, August 21st. Daiwa America raised shares of Medtronic to a "strong-buy" rating in a report on Friday, August 23rd. Finally, Oppenheimer increased their price target on Medtronic from $92.00 to $94.00 and gave the company a "market perform" rating in a research note on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Medtronic has a consensus rating of "Hold" and a consensus price target of $95.27.

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.