Doliver Advisors LP Reduces Stock Position in Medtronic plc (NYSE:MDT)

Doliver Advisors LP decreased its stake in shares of Medtronic plc (NYSE:MDT) by 4.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,006 shares of the medical technology company’s stock after selling 640 shares during the quarter. Doliver Advisors LP’s holdings in Medtronic were worth $1,039,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MDT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Medtronic by 436.7% during 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 worth $661,125,000 after purchasing an additional 5,975,110 shares during the period. Bank of Montreal Can raised its position in shares of Medtronic by 65.0% during the 3rd quarter. Bank of Montreal Can now owns 4,546,819 shares of the medical technology company’s stock valued at $406,122,000 after buying an additional 1,790,483 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Medtronic by 1,195.9% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company’s stock valued at $144,637,000 after acquiring an additional 1,695,800 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Medtronic by 58.4% in the third quarter. Janus Henderson Group PLC now owns 3,850,914 shares of the medical technology company’s stock valued at $346,705,000 after acquiring an additional 1,420,263 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in Medtronic by 8,908.6% in the third quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company’s stock worth $116,896,000 after acquiring an additional 1,284,002 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Down 1.1 %

Shares of MDT traded down $0.90 during midday trading on Monday, reaching $80.05. The stock had a trading volume of 4,325,317 shares, compared to its average volume of 5,052,724. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The company’s fifty day simple moving average is $84.89 and its two-hundred day simple moving average is $84.93. The company has a market cap of $102.65 billion, a price-to-earnings ratio of 24.48, a PEG ratio of 2.33 and a beta of 0.83. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $92.68.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the previous year, the business earned $1.25 EPS. Medtronic’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts expect that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Friday, December 27th. Medtronic’s payout ratio is 85.63%.

Analyst Ratings Changes

MDT has been the topic of several recent analyst reports. Robert W. Baird decreased their price target on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. Citigroup boosted their price target on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Finally, Sanford C. Bernstein increased their price objective on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Medtronic has a consensus rating of “Hold” and a consensus price target of $95.00.

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.