Mediolanum International Funds Ltd Decreases Holdings in Medtronic plc (NYSE:MDT)

Mediolanum International Funds Ltd decreased its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 17.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 242,119 shares of the medical technology company's stock after selling 50,396 shares during the period. Mediolanum International Funds Ltd's holdings in Medtronic were worth $19,228,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp boosted its holdings in shares of Medtronic by 0.9% during the 3rd quarter. State Street Corp now owns 60,731,367 shares of the medical technology company's stock worth $5,509,155,000 after buying an additional 520,027 shares during the period. Pzena Investment Management LLC boosted its holdings in 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 valued at $772,727,000 after purchasing an additional 275,870 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Medtronic by 436.7% in 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 valued at $661,125,000 after purchasing an additional 5,975,110 shares during the period. Raymond James & Associates boosted its holdings in Medtronic by 2.3% in the 3rd quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company's stock valued at $575,460,000 after purchasing an additional 145,504 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in Medtronic by 11.5% in the 3rd quarter. Fisher Asset Management LLC now owns 5,893,720 shares of the medical technology company's stock valued at $530,612,000 after purchasing an additional 609,391 shares during the period. Institutional investors own 82.06% of the company's stock.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the firm's stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the transaction, the executive vice president now directly owns 40,708 shares of the company's stock, valued at approximately $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on MDT shares. Wells Fargo & Company cut their price objective on shares of Medtronic from $106.00 to $98.00 and set an "overweight" rating for the company in a report on Wednesday, November 20th. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a report on Monday, November 18th. JPMorgan Chase & Co. cut their price target 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. Royal Bank of Canada raised shares of Medtronic from a "sector perform" rating to an "outperform" rating and upped their price target for the stock from $98.00 to $105.00 in a report on Thursday, October 10th. Finally, Barclays upped their price objective on shares of Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 26th. 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 issued a strong buy rating to the company. Based on data from MarketBeat, Medtronic currently has an average rating of "Hold" and an average price target of $95.00.

Medtronic Trading Down 0.3 %

Shares of NYSE:MDT traded down $0.27 during trading on Monday, reaching $90.55. The stock had a trading volume of 5,797,636 shares, compared to its average volume of 7,588,961. The firm's fifty day moving average is $84.38 and its 200 day moving average is $86.09. 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 52 week low of $75.96 and a 52 week high of $93.08. The stock has a market cap of $116.11 billion, a price-to-earnings ratio of 27.69, a P/E/G 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 EPS for the quarter, beating analysts' consensus estimates of $1.25 by $0.01. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company's quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.25 EPS. As a group, equities analysts forecast that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.09%. The ex-dividend date was Friday, December 27th. Medtronic's dividend payout ratio is presently 85.63%.

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.