Medtronic PLC (NYSE:MDT) Stock Position Lifted by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. grew its position in shares of Medtronic PLC (NYSE:MDT) by 7.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 413,825 shares of the medical technology company’s stock after buying an additional 27,122 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Medtronic were worth $40,302,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Dana Investment Advisors Inc. lifted its holdings in Medtronic by 3.1% during the 2nd quarter. Dana Investment Advisors Inc. now owns 42,648 shares of the medical technology company’s stock worth $4,153,000 after buying an additional 1,287 shares during the last quarter. Blackhawk Capital Partners LLC. lifted its holdings in Medtronic by 4.8% during the 2nd quarter. Blackhawk Capital Partners LLC. now owns 27,258 shares of the medical technology company’s stock worth $2,655,000 after buying an additional 1,240 shares during the last quarter. ETRADE Capital Management LLC lifted its holdings in Medtronic by 5.1% during the 2nd quarter. ETRADE Capital Management LLC now owns 88,732 shares of the medical technology company’s stock worth $8,642,000 after buying an additional 4,273 shares during the last quarter. Miles Capital Inc. lifted its holdings in shares of Medtronic by 5.8% in the 2nd quarter. Miles Capital Inc. now owns 2,781 shares of the medical technology company’s stock worth $271,000 after purchasing an additional 152 shares during the last quarter. Finally, Pinebridge Investments L.P. lifted its holdings in shares of Medtronic by 17.7% in the 2nd quarter. Pinebridge Investments L.P. now owns 428,181 shares of the medical technology company’s stock worth $41,701,000 after purchasing an additional 64,517 shares during the last quarter. 81.19% of the stock is currently owned by institutional investors.

In other Medtronic news, SVP Carol A. Surface sold 9,000 shares of Medtronic stock in a transaction on Monday, June 17th. The stock was sold at an average price of $97.66, for a total transaction of $878,940.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Hooman Hakami sold 82,877 shares of Medtronic stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $107.31, for a total value of $8,893,530.87. Following the sale, the executive vice president now directly owns 30,761 shares in the company, valued at approximately $3,300,962.91. The disclosure for this sale can be found here. Insiders have sold a total of 105,914 shares of company stock worth $11,194,591 in the last ninety days. 0.28% of the stock is owned by company insiders.

MDT has been the topic of several recent research reports. Royal Bank of Canada set a $110.00 price target on Medtronic and gave the stock a “buy” rating in a report on Friday, August 16th. UBS Group raised their price target on Medtronic from $112.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Zacks Investment Research raised Medtronic from a “sell” rating to a “hold” rating in a report on Monday, May 20th. Barclays raised their price target on Medtronic from $110.00 to $117.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, BMO Capital Markets raised their price target on Medtronic from $107.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $114.15.

Medtronic stock traded down $0.73 during mid-day trading on Friday, hitting $109.65. 368,689 shares of the company’s stock traded hands, compared to its average volume of 4,687,985. The firm has a 50 day moving average price of $104.67 and a 200 day moving average price of $95.67. The company has a quick ratio of 2.20, a current ratio of 2.67 and a debt-to-equity ratio of 0.49. The company has a market cap of $144.20 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 2.64 and a beta of 0.65. Medtronic PLC has a one year low of $81.66 and a one year high of $111.24.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 20th. The medical technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.08. The firm had revenue of $7.49 billion for the quarter, compared to the consensus estimate of $7.40 billion. Medtronic had a return on equity of 14.36% and a net margin of 14.41%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.17 EPS. On average, analysts expect that Medtronic PLC will post 5.56 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.97%. The ex-dividend date is Thursday, September 26th. Medtronic’s payout ratio is currently 41.38%.

About Medtronic

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

Further Reading: Outstanding Shares and The Effect on Share Price

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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