Tredje AP fonden Has $24.98 Million Stake in Medtronic plc (NYSE:MDT)

Tredje AP fonden decreased its position in Medtronic plc (NYSE:MDT - Free Report) by 2.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 312,717 shares of the medical technology company's stock after selling 8,565 shares during the quarter. Tredje AP fonden's holdings in Medtronic were worth $24,980,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. State Street Corp lifted its holdings in shares of 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 buying an additional 520,027 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Medtronic in the fourth quarter valued at $852,732,000. Pzena Investment Management LLC lifted its holdings in shares of Medtronic by 3.3% in the third quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company's stock valued at $772,727,000 after buying an additional 275,870 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Medtronic by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,002,051 shares of the medical technology company's stock valued at $639,204,000 after buying an additional 134,647 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Medtronic by 436.7% in 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 valued at $661,125,000 after buying an additional 5,975,110 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

Remove Ads

Medtronic Stock Up 0.9 %

NYSE:MDT traded up $0.79 during trading hours on Thursday, hitting $92.30. 6,737,549 shares of the company's stock traded hands, compared to its average volume of 6,062,397. The firm has a market cap of $118.38 billion, a P/E ratio of 28.05, a P/E/G ratio of 2.22 and a beta of 0.80. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The stock's fifty day moving average price is $89.36 and its two-hundred day moving average price is $87.94.

Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. On average, research analysts expect that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.03%. The ex-dividend date is Friday, March 28th. Medtronic's payout ratio is currently 85.11%.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the company's stock in a transaction dated Wednesday, January 8th. The stock was 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 $3,273,330.28. This represents a 19.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MDT shares. JPMorgan Chase & Co. cut their price objective on Medtronic from $99.00 to $96.00 and set a "neutral" rating for the company in a report on Friday, November 15th. UBS Group upped their target price on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $105.00 target price on shares of Medtronic in a report on Wednesday, February 19th. Finally, Barclays upped their target price on Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $96.07.

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.