Medtronic PLC (MDT) Shares Sold by Grandfield & Dodd LLC

Grandfield & Dodd LLC lowered its holdings in shares of Medtronic PLC (NYSE:MDT) by 3.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 207,762 shares of the medical technology company’s stock after selling 7,130 shares during the quarter. Medtronic PLC makes up 2.2% of Grandfield & Dodd LLC’s portfolio, making the stock its 11th biggest holding. Grandfield & Dodd LLC’s holdings in Medtronic PLC were worth $18,439,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. CIBC Asset Management Inc grew its position in shares of Medtronic PLC by 3.5% during the second quarter. CIBC Asset Management Inc now owns 96,486 shares of the medical technology company’s stock worth $8,563,000 after purchasing an additional 3,231 shares in the last quarter. Pillar Pacific Capital Management LLC grew its position in shares of Medtronic PLC by 0.7% during the second quarter. Pillar Pacific Capital Management LLC now owns 69,731 shares of the medical technology company’s stock worth $6,189,000 after purchasing an additional 465 shares in the last quarter. Honkamp Krueger Financial Services Inc. grew its position in shares of Medtronic PLC by 19.8% during the second quarter. Honkamp Krueger Financial Services Inc. now owns 6,568 shares of the medical technology company’s stock worth $583,000 after purchasing an additional 1,086 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. grew its position in shares of Medtronic PLC by 0.3% during the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 145,807 shares of the medical technology company’s stock worth $12,940,000 after purchasing an additional 434 shares in the last quarter. Finally, Warren Averett Asset Management LLC grew its position in shares of Medtronic PLC by 7.6% during the second quarter. Warren Averett Asset Management LLC now owns 11,115 shares of the medical technology company’s stock worth $986,000 after purchasing an additional 781 shares in the last quarter. Hedge funds and other institutional investors own 80.75% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This article was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this article on another website, it was stolen and reposted in violation of United States and international trademark and copyright laws. The correct version of this article can be accessed at https://ledgergazette.com/2017/09/17/medtronic-plc-mdt-shares-sold-by-grandfield-dodd-llc.html.

Several research firms recently issued reports on MDT. Zacks Investment Research cut Medtronic PLC from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. BidaskClub cut Medtronic PLC from a “hold” rating to a “sell” rating in a research report on Saturday, August 26th. UBS AG reiterated an “overweight” rating on shares of Medtronic PLC in a research report on Thursday, August 24th. Jefferies Group LLC cut their target price on Medtronic PLC from $103.00 to $96.00 and set a “buy” rating for the company in a research report on Wednesday, August 23rd. Finally, Barclays PLC cut their target price on Medtronic PLC from $94.00 to $92.00 and set an “overweight” rating for the company in a research report on Wednesday, August 23rd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company’s stock. Medtronic PLC currently has a consensus rating of “Hold” and a consensus target price of $88.78.

In related news, Director Richard H. Anderson purchased 5,600 shares of the company’s stock in a transaction dated Wednesday, June 21st. The stock was acquired at an average cost of $88.90 per share, for a total transaction of $497,840.00. Following the completion of the transaction, the director now directly owns 71,910 shares of the company’s stock, valued at $6,392,799. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Bryan C. Hanson sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $88.57, for a total value of $1,062,840.00. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Medtronic PLC (NYSE:MDT) opened at 82.12 on Friday. Medtronic PLC has a one year low of $69.35 and a one year high of $89.72. The stock has a 50 day moving average price of $82.18 and a 200-day moving average price of $83.65. The stock has a market cap of $111.24 billion, a PE ratio of 27.64 and a beta of 1.03.

Medtronic PLC (NYSE:MDT) last posted its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.04. The business had revenue of $7.39 billion during the quarter, compared to analyst estimates of $7.44 billion. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The business’s revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.03 earnings per share. Equities research analysts expect that Medtronic PLC will post $4.77 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, September 29th will be given a $0.46 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.24%. Medtronic PLC’s dividend payout ratio (DPR) is presently 61.95%.

Medtronic PLC Profile

Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.

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).

Institutional Ownership by Quarter for Medtronic PLC (NYSE:MDT)

Receive News & Ratings for Medtronic PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic PLC and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply