Toronto Dominion Bank Decreases Holdings in Medtronic PLC (NYSE:MDT)

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Toronto Dominion Bank trimmed its holdings in shares of Medtronic PLC (NYSE:MDT) by 23.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,107,598 shares of the medical technology company’s stock after selling 346,288 shares during the period. Toronto Dominion Bank owned 0.08% of Medtronic worth $101,566,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the stock. Cpwm LLC lifted its holdings in Medtronic by 3.3% in the 2nd quarter. Cpwm LLC now owns 3,113 shares of the medical technology company’s stock worth $285,000 after buying an additional 98 shares in the last quarter. Birch Hill Investment Advisors LLC raised its stake in shares of Medtronic by 4.0% in the 2nd quarter. Birch Hill Investment Advisors LLC now owns 2,585 shares of the medical technology company’s stock valued at $237,000 after purchasing an additional 100 shares in the last quarter. Pratt Collard Advisory Partners LLC raised its stake in shares of Medtronic by 0.4% in the 2nd quarter. Pratt Collard Advisory Partners LLC now owns 23,928 shares of the medical technology company’s stock valued at $2,194,000 after purchasing an additional 107 shares in the last quarter. Lionsbridge Wealth Management LLC raised its stake in shares of Medtronic by 1.3% in the 2nd quarter. Lionsbridge Wealth Management LLC now owns 8,626 shares of the medical technology company’s stock valued at $796,000 after purchasing an additional 108 shares in the last quarter. Finally, Harrington Investments INC raised its stake in shares of Medtronic by 1.0% in the 2nd quarter. Harrington Investments INC now owns 11,177 shares of the medical technology company’s stock valued at $1,025,000 after purchasing an additional 109 shares in the last quarter. 79.90% of the stock is owned by hedge funds and other institutional investors.

In related news, EVP Hoedt Rob Ten sold 9,563 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $105.05, for a total value of $1,004,593.15. Following the completion of the sale, the executive vice president now owns 53,060 shares in the company, valued at approximately $5,573,953. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.52% of the stock is currently owned by corporate insiders.

NYSE:MDT traded up $0.60 during trading hours on Tuesday, reaching $107.57. 3,293,366 shares of the company’s stock were exchanged, compared to its average volume of 6,024,534. The company has a market capitalization of $143.79 billion, a P/E ratio of 33.16, a price-to-earnings-growth ratio of 3.41 and a beta of 0.68. Medtronic PLC has a 12 month low of $72.13 and a 12 month high of $122.15. The company has a quick ratio of 1.53, a current ratio of 1.87 and a debt-to-equity ratio of 0.45. The business’s 50-day simple moving average is $101.71 and its two-hundred day simple moving average is $96.45.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, August 25th. The medical technology company reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.41. The firm had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $5.48 billion. Medtronic had a net margin of 15.80% and a return on equity of 10.47%. The firm’s revenue for the quarter was down 13.2% compared to the same quarter last year. During the same period last year, the firm posted $1.26 earnings per share. As a group, sell-side analysts anticipate that Medtronic PLC will post 3.96 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 25th will be given a $0.58 dividend. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $2.32 annualized dividend and a dividend yield of 2.16%. Medtronic’s dividend payout ratio (DPR) is presently 50.54%.

A number of equities research analysts have recently issued reports on the stock. BTIG Research upped their target price on shares of Medtronic from $102.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, August 26th. SVB Leerink increased their price objective on shares of Medtronic from $105.00 to $110.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 26th. Citigroup increased their price objective on shares of Medtronic from $108.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, August 26th. Morgan Stanley upped their target price on shares of Medtronic from $106.00 to $111.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 26th. Finally, Wolfe Research started coverage on shares of Medtronic in a research report on Friday. They issued a “peer perform” rating and a $115.00 target price for the company. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $115.75.

Medtronic Company 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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