SeaTown Holdings Pte. Ltd. Has $13.31 Million Stake in Medtronic PLC (NYSE:MDT)

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SeaTown Holdings Pte. Ltd. boosted its stake in Medtronic PLC (NYSE:MDT) by 1,046.7% in the second quarter, reports. The firm owned 136,621 shares of the medical technology company’s stock after buying an additional 124,707 shares during the period. Medtronic accounts for about 2.4% of SeaTown Holdings Pte. Ltd.’s investment portfolio, making the stock its 16th largest holding. SeaTown Holdings Pte. Ltd.’s holdings in Medtronic were worth $13,306,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. BlackRock Inc. grew its holdings in Medtronic by 7.9% during the 1st quarter. BlackRock Inc. now owns 106,778,084 shares of the medical technology company’s stock worth $9,725,349,000 after acquiring an additional 7,856,946 shares during the period. Wells Fargo & Company MN grew its holdings in Medtronic by 2.2% during the 1st quarter. Wells Fargo & Company MN now owns 13,714,625 shares of the medical technology company’s stock worth $1,249,129,000 after acquiring an additional 291,291 shares during the period. Nordea Investment Management AB grew its holdings in Medtronic by 35.4% during the 1st quarter. Nordea Investment Management AB now owns 8,622,525 shares of the medical technology company’s stock worth $785,336,000 after acquiring an additional 2,255,412 shares during the period. Boston Partners grew its holdings in Medtronic by 13.9% during the 1st quarter. Boston Partners now owns 8,405,239 shares of the medical technology company’s stock worth $765,549,000 after acquiring an additional 1,028,238 shares during the period. Finally, Sanders Capital LLC grew its holdings in Medtronic by 3.3% during the 2nd quarter. Sanders Capital LLC now owns 6,134,485 shares of the medical technology company’s stock worth $672,922,000 after acquiring an additional 196,300 shares during the period. Hedge funds and other institutional investors own 80.65% of the company’s stock.

In other Medtronic news, EVP Geoffrey Martha sold 11,000 shares of Medtronic stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $96.05, for a total transaction of $1,056,550.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard H. Anderson bought 10,900 shares of the company’s stock in a transaction on Friday, May 24th. The shares were purchased at an average cost of $92.40 per share, for a total transaction of $1,007,160.00. Following the transaction, the director now owns 89,912 shares in the company, valued at $8,307,868.80. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 95,701 shares of company stock worth $9,318,744. 0.28% of the stock is owned by insiders.

NYSE MDT traded up $1.33 during trading hours on Tuesday, hitting $102.33. The company’s stock had a trading volume of 2,478,055 shares, compared to its average volume of 4,229,762. Medtronic PLC has a 52 week low of $81.66 and a 52 week high of $103.95. The stock has a market capitalization of $136.96 billion, a P/E ratio of 19.60, a PEG ratio of 2.60 and a beta of 0.67. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.59 and a quick ratio of 2.15. The company’s 50-day moving average price is $100.27.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Thursday, May 23rd. The medical technology company reported $1.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.07. Medtronic had a net margin of 15.15% and a return on equity of 14.16%. The business had revenue of $8.15 billion for the quarter, compared to analysts’ expectations of $8.12 billion. During the same quarter last year, the firm earned $1.42 EPS. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. On average, research analysts anticipate that Medtronic PLC will post 5.48 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Monday, July 8th were given a $0.54 dividend. This is a boost from Medtronic’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.16 annualized dividend and a yield of 2.11%. Medtronic’s dividend payout ratio (DPR) is presently 41.38%.

A number of analysts have weighed in on MDT shares. Oppenheimer set a $110.00 price target on Medtronic and gave the stock a “buy” rating in a report on Monday, July 15th. UBS Group raised their target price on Medtronic to $112.00 and gave the company a “buy” rating in a research note on Friday, June 14th. Needham & Company LLC restated a “buy” rating on shares of Medtronic in a research note on Tuesday, July 23rd. Wells Fargo & Co upgraded Medtronic from a “market perform” rating to an “outperform” rating and raised their target price for the company from $100.00 to $110.00 in a research note on Tuesday, June 4th. Finally, Northland Securities restated a “hold” rating and issued a $100.00 target price on shares of Medtronic in a research note on Thursday, June 20th. Seven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $106.05.

Medtronic Profile

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.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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