Medtronic plc. (MDT) Stake Boosted by Atria Investments LLC

Atria Investments LLC boosted its holdings in shares of Medtronic plc. (NYSE:MDT) by 24.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,164 shares of the medical technology company’s stock after buying an additional 2,615 shares during the quarter. Atria Investments LLC’s holdings in Medtronic were worth $1,063,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Medtronic by 2.4% in the second quarter. Vanguard Group Inc. now owns 104,776,036 shares of the medical technology company’s stock worth $9,298,872,000 after purchasing an additional 2,454,380 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Medtronic by 2.8% during the second quarter. BlackRock Inc. now owns 89,512,229 shares of the medical technology company’s stock valued at $7,944,210,000 after buying an additional 2,476,853 shares during the last quarter. Artisan Partners Limited Partnership grew its holdings in shares of Medtronic by 1.1% during the third quarter. Artisan Partners Limited Partnership now owns 23,853,034 shares of the medical technology company’s stock valued at $1,855,050,000 after buying an additional 269,814 shares during the last quarter. Lazard Asset Management LLC grew its holdings in shares of Medtronic by 43.8% during the second quarter. Lazard Asset Management LLC now owns 19,669,866 shares of the medical technology company’s stock valued at $1,745,699,000 after buying an additional 5,991,094 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Medtronic by 1.4% during the third quarter. Wells Fargo & Company MN now owns 12,378,331 shares of the medical technology company’s stock valued at $962,664,000 after buying an additional 165,149 shares during the last quarter. 81.91% of the stock is currently owned by institutional investors.

In related news, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $82.82, for a total transaction of $1,325,120.00. Following the completion of the sale, the executive vice president now owns 88,818 shares of the company’s stock, valued at approximately $7,355,906.76. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Hooman Hakami sold 26,158 shares of the company’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $85.00, for a total transaction of $2,223,430.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 136,684 shares of company stock valued at $11,582,596. 0.31% of the stock is owned by corporate insiders.

Medtronic plc. (NYSE:MDT) traded up $0.76 on Monday, hitting $80.24. 4,303,541 shares of the company traded hands, compared to its average volume of 5,637,199. Medtronic plc. has a 52-week low of $76.15 and a 52-week high of $89.72. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.05 and a current ratio of 2.40. The firm has a market cap of $107,580.00, a P/E ratio of 22.04, a PEG ratio of 2.19 and a beta of 0.93.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.08. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The firm had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter in the prior year, the firm earned $1.12 EPS. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. sell-side analysts expect that Medtronic plc. will post 4.76 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 19th. Investors of record on Friday, December 29th were paid a dividend of $0.46 per share. The ex-dividend date was Thursday, December 28th. This represents a $1.84 annualized dividend and a yield of 2.29%. Medtronic’s dividend payout ratio is presently 50.55%.

A number of brokerages have recently weighed in on MDT. Morgan Stanley boosted their price objective on shares of Medtronic from $91.00 to $95.00 and gave the company an “equal weight” rating in a report on Monday, February 5th. Oppenheimer set a $94.00 price objective on shares of Medtronic and gave the company a “buy” rating in a report on Friday, January 19th. Evercore ISI initiated coverage on shares of Medtronic in a report on Wednesday, January 3rd. They set an “outperform” rating and a $92.50 price objective on the stock. Bank of America upgraded shares of Medtronic from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. Finally, Argus upgraded shares of Medtronic from a “hold” rating to a “buy” rating and boosted their target price for the company from $81.27 to $95.00 in a research report on Tuesday, December 12th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Medtronic presently has a consensus rating of “Buy” and a consensus target price of $90.10.

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About Medtronic

Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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