Medtronic plc (NYSE:MDT) Holdings Increased by Ieq Capital LLC

Ieq Capital LLC increased its holdings in Medtronic plc (NYSE:MDT – Get Rating) by 22.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,907 shares of the medical technology company’s stock after purchasing an additional 6,689 shares during the quarter. Ieq Capital LLC’s holdings in Medtronic were worth $2,980,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in MDT. Castle Wealth Management LLC bought a new stake in shares of Medtronic in the 2nd quarter worth approximately $28,000. IAG Wealth Partners LLC raised its holdings in shares of Medtronic by 58.1% during the third quarter. IAG Wealth Partners LLC now owns 351 shares of the medical technology company’s stock valued at $28,000 after acquiring an additional 129 shares during the period. Tortoise Investment Management LLC raised its holdings in shares of Medtronic by 53.2% during the second quarter. Tortoise Investment Management LLC now owns 357 shares of the medical technology company’s stock valued at $32,000 after acquiring an additional 124 shares during the period. West Branch Capital LLC raised its holdings in shares of Medtronic by 84.8% during the second quarter. West Branch Capital LLC now owns 377 shares of the medical technology company’s stock valued at $34,000 after acquiring an additional 173 shares during the period. Finally, Annapolis Financial Services LLC raised its holdings in shares of Medtronic by 368.0% during the third quarter. Annapolis Financial Services LLC now owns 482 shares of the medical technology company’s stock valued at $39,000 after acquiring an additional 379 shares during the period. 80.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MDT shares. Deutsche Bank Aktiengesellschaft cut their price target on shares of Medtronic from $85.00 to $80.00 in a report on Wednesday, November 23rd. Mizuho cut their price target on shares of Medtronic from $100.00 to $95.00 in a report on Tuesday. Cowen cut their price target on shares of Medtronic from $117.00 to $90.00 in a report on Wednesday, November 23rd. Cowen cut their price target on shares of Medtronic from $117.00 to $90.00 in a report on Wednesday, November 23rd. Finally, Stifel Nicolaus cut their price target on shares of Medtronic from $105.00 to $90.00 in a report on Wednesday, November 23rd. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $94.25.

Insider Buying and Selling

In related news, EVP Sean Salmon sold 16,631 shares of the company’s stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $80.50, for a total transaction of $1,338,795.50. Following the completion of the sale, the executive vice president now directly owns 36,088 shares of the company’s stock, valued at approximately $2,905,084. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.29% of the stock is owned by insiders.

Medtronic Price Performance

NYSE MDT opened at $82.37 on Tuesday. The company has a current ratio of 1.76, a quick ratio of 1.41 and a debt-to-equity ratio of 0.40. The company has a fifty day simple moving average of $78.93 and a 200 day simple moving average of $84.63. The company has a market cap of $109.57 billion, a P/E ratio of 25.58, a P/E/G ratio of 1.99 and a beta of 0.71. Medtronic plc has a 1 year low of $75.76 and a 1 year high of $114.31.

Medtronic (NYSE:MDT – Get Rating) last posted its quarterly earnings data on Tuesday, November 22nd. The medical technology company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.02. The business had revenue of $7.59 billion during the quarter, compared to the consensus estimate of $7.70 billion. Medtronic had a net margin of 14.03% and a return on equity of 13.52%. Medtronic’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.32 EPS. On average, sell-side analysts predict that Medtronic plc will post 5.26 EPS for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Wednesday, December 21st were issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend was Tuesday, December 20th. Medtronic’s dividend payout ratio is currently 84.47%.

Medtronic Profile

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Medtronic Plc is a medical technology company, which engages in the development, manufacture, distribution, and sale of device-based medical therapies and services. It operates through the following segments: Cardiovascular Porrtfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit.