Jupiter Asset Management Ltd. Has $28.45 Million Stake in Medtronic PLC (MDT)
Jupiter Asset Management Ltd. reduced its stake in Medtronic PLC (NYSE:MDT) by 15.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 289,224 shares of the medical technology company’s stock after selling 51,715 shares during the period. Medtronic makes up about 0.8% of Jupiter Asset Management Ltd.’s holdings, making the stock its 27th largest holding. Jupiter Asset Management Ltd.’s holdings in Medtronic were worth $28,451,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Ballew Advisors Inc purchased a new position in shares of Medtronic during the second quarter worth about $100,000. Fort L.P. purchased a new position in shares of Medtronic during the second quarter worth about $121,000. Polaris Greystone Financial Group LLC grew its holdings in shares of Medtronic by 255.1% during the third quarter. Polaris Greystone Financial Group LLC now owns 1,321 shares of the medical technology company’s stock worth $130,000 after buying an additional 949 shares during the last quarter. Trustcore Financial Services LLC grew its holdings in shares of Medtronic by 97.3% during the second quarter. Trustcore Financial Services LLC now owns 1,760 shares of the medical technology company’s stock worth $151,000 after buying an additional 868 shares during the last quarter. Finally, Hartford Financial Management Inc. purchased a new position in shares of Medtronic during the second quarter worth about $164,000. Institutional investors and hedge funds own 79.56% of the company’s stock.
In other Medtronic news, EVP Geoffrey Martha sold 49,799 shares of Medtronic stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $97.93, for a total value of $4,876,816.07. Following the completion of the sale, the executive vice president now directly owns 87,872 shares of the company’s stock, valued at approximately $8,605,304.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael J. Coyle sold 145,544 shares of Medtronic stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $95.50, for a total transaction of $13,899,452.00. Following the completion of the sale, the executive vice president now directly owns 190,680 shares of the company’s stock, valued at $18,209,940. The disclosure for this sale can be found here. Insiders sold a total of 268,678 shares of company stock valued at $25,818,353 over the last ninety days. 0.28% of the stock is owned by corporate insiders.
MDT stock opened at $93.70 on Monday. The company has a market capitalization of $126.54 billion, a price-to-earnings ratio of 19.64, a PEG ratio of 2.49 and a beta of 0.94. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.46 and a quick ratio of 2.06. Medtronic PLC has a one year low of $76.41 and a one year high of $100.15.
Medtronic (NYSE:MDT) last released its earnings results on Tuesday, August 21st. The medical technology company reported $1.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.06. The firm had revenue of $7.38 billion during the quarter, compared to analysts’ expectations of $7.24 billion. Medtronic had a net margin of 10.56% and a return on equity of 12.98%. Medtronic’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the company earned $1.12 EPS. As a group, sell-side analysts expect that Medtronic PLC will post 5.12 EPS for the current year.
COPYRIGHT VIOLATION NOTICE: “Jupiter Asset Management Ltd. Has $28.45 Million Stake in Medtronic PLC (MDT)” was originally published by Daily Political and is the sole property of of Daily Political. If you are viewing this story on another publication, it was illegally copied and republished in violation of US & international trademark & copyright law. The original version of this story can be read at https://www.dailypolitical.com/2018/11/19/jupiter-asset-management-ltd-has-28-45-million-stake-in-medtronic-plc-mdt.html.
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.
Further Reading: Compound Interest and Why It Matters When Investing
Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic PLC (NYSE:MDT).
Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.