Medtronic PLC (NYSE:MDT) Stock Holdings Cut by Pendal Group Ltd
Pendal Group Ltd decreased its holdings in shares of Medtronic PLC (NYSE:MDT) by 1.1% during the second quarter, Holdings Channel.com reports. The firm owned 3,971,871 shares of the medical technology company’s stock after selling 46,150 shares during the period. Medtronic accounts for about 5.2% of Pendal Group Ltd’s portfolio, making the stock its 3rd largest position. Pendal Group Ltd’s holdings in Medtronic were worth $374,449,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in MDT. Rocky Mountain Advisers LLC grew its holdings in shares of Medtronic by 100.0% in the second quarter. Rocky Mountain Advisers LLC now owns 400 shares of the medical technology company’s stock worth $39,000 after purchasing an additional 200 shares during the last quarter. Spectrum Management Group Inc. grew its holdings in Medtronic by 353.8% during the 1st quarter. Spectrum Management Group Inc. now owns 413 shares of the medical technology company’s stock worth $38,000 after acquiring an additional 322 shares in the last quarter. Mackey Komara & Dankovich LLC bought a new position in Medtronic during the 1st quarter worth about $38,000. Motco grew its holdings in Medtronic by 159.3% during the 1st quarter. Motco now owns 516 shares of the medical technology company’s stock worth $47,000 after acquiring an additional 317 shares in the last quarter. Finally, Stuart Chaussee & Associates Inc. bought a new position in Medtronic during the 1st quarter worth about $48,000. 80.65% of the stock is currently owned by institutional investors.
MDT traded up $1.36 during trading on Tuesday, reaching $102.36. 2,424,109 shares of the company’s stock were exchanged, compared to its average volume of 4,229,762. Medtronic PLC has a 1 year low of $81.66 and a 1 year high of $103.95. 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 stock has a market capitalization of $136.96 billion, a PE ratio of 19.61, a P/E/G ratio of 2.60 and a beta of 0.67. The stock has a fifty day moving average of $100.27.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Monday, July 8th were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 2.11%. This is a positive change from Medtronic’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, July 5th. Medtronic’s payout ratio is 41.38%.
Several research analysts have issued reports on the stock. UBS Group increased their target price on shares of Medtronic to $112.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Needham & Company LLC reiterated a “buy” rating on shares of Medtronic in a report on Tuesday, July 23rd. ValuEngine cut shares of Medtronic from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Northland Securities reiterated a “hold” rating and set a $100.00 target price on shares of Medtronic in a report on Thursday, June 20th. Finally, Royal Bank of Canada dropped their target price on shares of Medtronic to $100.00 and set an “outperform” rating on the stock in a report on Tuesday, May 28th. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Medtronic presently has an average rating of “Buy” and a consensus target price of $106.05.
In other news, SVP Bradley E. Lerman sold 6,599 shares of Medtronic stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $102.02, for a total transaction of $673,229.98. Following the completion of the transaction, the senior vice president now directly owns 105,960 shares of the company’s stock, valued at approximately $10,810,039.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Richard Kuntz sold 3,438 shares of Medtronic stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $101.12, for a total transaction of $347,650.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 95,701 shares of company stock valued at $9,318,744. Insiders own 0.28% of the company’s stock.
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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