Medtronic PLC (NYSE:MDT) Shares Sold by McCollum Christoferson Group LLC

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McCollum Christoferson Group LLC reduced its holdings in Medtronic PLC (NYSE:MDT) by 1.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,741 shares of the medical technology company’s stock after selling 1,015 shares during the quarter. Medtronic comprises 2.2% of McCollum Christoferson Group LLC’s investment portfolio, making the stock its 22nd biggest holding. McCollum Christoferson Group LLC’s holdings in Medtronic were worth $6,166,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of MDT. Robeco Institutional Asset Management B.V. increased its stake in Medtronic by 9.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 562,952 shares of the medical technology company’s stock valued at $61,146,000 after purchasing an additional 50,153 shares in the last quarter. Allied Investment Advisors LLC increased its stake in Medtronic by 0.4% in the 3rd quarter. Allied Investment Advisors LLC now owns 51,887 shares of the medical technology company’s stock valued at $5,636,000 after purchasing an additional 202 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in Medtronic by 18.5% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 108,135 shares of the medical technology company’s stock valued at $11,746,000 after purchasing an additional 16,874 shares in the last quarter. Tradewinds Capital Management LLC increased its position in Medtronic by 46.2% during the third quarter. Tradewinds Capital Management LLC now owns 380 shares of the medical technology company’s stock worth $41,000 after buying an additional 120 shares in the last quarter. Finally, TCI Wealth Advisors Inc. increased its position in Medtronic by 3.1% during the third quarter. TCI Wealth Advisors Inc. now owns 7,065 shares of the medical technology company’s stock worth $767,000 after buying an additional 210 shares in the last quarter. 81.09% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:MDT traded down $0.19 during midday trading on Friday, reaching $108.55. The company’s stock had a trading volume of 597,424 shares, compared to its average volume of 4,093,979. The firm has a market cap of $145.16 billion, a price-to-earnings ratio of 20.80, a price-to-earnings-growth ratio of 2.66 and a beta of 0.64. The company has a quick ratio of 2.20, a current ratio of 2.67 and a debt-to-equity ratio of 0.49. Medtronic PLC has a 1 year low of $81.66 and a 1 year high of $112.05. The business has a 50 day moving average price of $108.34 and a 200 day moving average price of $98.59.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.26 EPS for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.08. The business had revenue of $7.49 billion during 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 business’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 earnings per share. Sell-side analysts anticipate that Medtronic PLC will post 5.56 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Friday, September 27th will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, September 26th. Medtronic’s payout ratio is currently 41.38%.

In other Medtronic news, SVP Bradley E. Lerman sold 4,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $100.31, for a total transaction of $401,240.00. Following the transaction, the senior vice president now owns 52,906 shares in the company, valued at $5,307,000.86. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Bradley E. Lerman sold 6,599 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $102.02, for a total value of $673,229.98. Following the transaction, the senior vice president now owns 105,960 shares in the company, valued at approximately $10,810,039.20. The disclosure for this sale can be found here. Insiders sold 118,339 shares of company stock worth $12,619,053 in the last quarter. 0.28% of the stock is owned by insiders.

MDT has been the subject of several recent research reports. BTIG Research raised their price target on Medtronic to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Morgan Stanley raised their price target on Medtronic from $105.00 to $111.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 21st. Needham & Company LLC reissued a “buy” rating and set a $133.00 price target on shares of Medtronic in a research report on Wednesday, August 28th. Bank of America set a $118.00 price target on Medtronic and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, Oppenheimer raised their price target on Medtronic from $110.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Medtronic presently has a consensus rating of “Buy” and a consensus target price of $113.84.

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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