Medtronic PLC (MDT) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board decreased its position in Medtronic PLC (NYSE:MDT) by 22.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 335,000 shares of the medical technology company’s stock after selling 95,000 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Medtronic PLC were worth $29,731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Medtronic PLC by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 104,776,036 shares of the medical technology company’s stock worth $9,298,872,000 after buying an additional 2,454,380 shares during the last quarter. BlackRock Inc. increased its stake in Medtronic PLC by 2.8% in the 2nd quarter. BlackRock Inc. now owns 89,512,229 shares of the medical technology company’s stock worth $7,944,210,000 after purchasing an additional 2,476,853 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Medtronic PLC by 3.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 58,646,070 shares of the medical technology company’s stock worth $4,724,526,000 after purchasing an additional 1,729,715 shares during the period. Lazard Asset Management LLC increased its stake in Medtronic PLC by 43.8% in the 2nd quarter. Lazard Asset Management LLC now owns 19,669,866 shares of the medical technology company’s stock worth $1,745,699,000 after purchasing an additional 5,991,094 shares during the period. Finally, Geode Capital Management LLC increased its stake in Medtronic PLC by 7.3% in the 1st quarter. Geode Capital Management LLC now owns 13,308,812 shares of the medical technology company’s stock worth $1,070,622,000 after purchasing an additional 906,581 shares during the period. Institutional investors own 81.37% of the company’s stock.

In other news, EVP Bryan C. Hanson sold 16,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $78.03, for a total value of $1,248,480.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Omar Ishrak sold 140,407 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $81.63, for a total value of $11,461,423.41. Following the completion of the sale, the chief executive officer now directly owns 668,503 shares of the company’s stock, valued at $54,569,899.89. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Shares of Medtronic PLC (NYSE MDT) opened at $79.16 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.40 and a current ratio of 1.64. Medtronic PLC has a 1 year low of $69.35 and a 1 year high of $89.72. The stock has a market capitalization of $107,283.60, a PE ratio of 16.89, a P/E/G ratio of 2.15 and a beta of 1.00.

Medtronic PLC (NYSE:MDT) last released its earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.04. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The firm had revenue of $7.39 billion during the quarter, compared to analysts’ expectations of $7.44 billion. During the same quarter last year, the business posted $1.03 earnings per share. The firm’s revenue was up 3.1% on a year-over-year basis. analysts forecast that Medtronic PLC will post 4.7 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, October 20th. Investors of record on Friday, September 29th were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend was Thursday, September 28th. Medtronic PLC’s payout ratio is presently 61.95%.

A number of brokerages have commented on MDT. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of Medtronic PLC in a research note on Tuesday, July 18th. BidaskClub cut Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Zacks Investment Research cut Medtronic PLC from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Deutsche Bank AG set a $96.00 target price on Medtronic PLC and gave the company a “buy” rating in a research note on Monday, July 31st. Finally, Cowen and Company set a $95.00 target price on Medtronic PLC and gave the company a “buy” rating in a research note on Tuesday, August 22nd. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the stock. Medtronic PLC presently has an average rating of “Hold” and a consensus price target of $87.88.

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Medtronic PLC Profile

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 PLC (NYSE:MDT)

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