Marco Investment Management LLC Has $11.27 Million Stake in Medtronic PLC (MDT)

Marco Investment Management LLC lowered its position in Medtronic PLC (NYSE:MDT) by 4.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 126,945 shares of the medical technology company’s stock after selling 6,143 shares during the period. Medtronic PLC makes up about 1.9% of Marco Investment Management LLC’s portfolio, making the stock its 11th largest position. Marco Investment Management LLC’s holdings in Medtronic PLC were worth $11,266,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of MDT. BlackRock Inc. grew its position in shares of Medtronic PLC by 2,513.4% in the 1st quarter. BlackRock Inc. now owns 87,035,376 shares of the medical technology company’s stock worth $7,011,571,000 after buying an additional 83,705,052 shares during the last quarter. Lazard Asset Management LLC grew its position in Medtronic PLC by 1,061.4% during the 1st quarter. Lazard Asset Management LLC now owns 13,678,772 shares of the medical technology company’s stock worth $1,101,960,000 after purchasing an additional 12,500,992 shares during the last quarter. Vanguard Group Inc. grew its position in Medtronic PLC by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 102,321,656 shares of the medical technology company’s stock worth $8,243,034,000 after purchasing an additional 4,412,536 shares during the last quarter. Alliancebernstein L.P. grew its position in Medtronic PLC by 135.5% during the 2nd quarter. Alliancebernstein L.P. now owns 6,070,160 shares of the medical technology company’s stock worth $538,727,000 after purchasing an additional 3,493,058 shares during the last quarter. Finally, Sanders Capital LLC grew its position in Medtronic PLC by 43.7% during the 2nd quarter. Sanders Capital LLC now owns 6,670,948 shares of the medical technology company’s stock worth $651,800,000 after purchasing an additional 2,027,147 shares during the last quarter. 81.37% of the stock is currently owned by hedge funds and other institutional investors.

In other Medtronic PLC news, CEO Omar Ishrak sold 140,407 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the completion of the transaction, the chief executive officer now directly owns 668,503 shares in the company, valued at $54,569,899.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $78.03, for a total transaction of $1,248,480.00. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Medtronic PLC (NYSE MDT) opened at $79.33 on Monday. The company has a quick ratio of 1.40, a current ratio of 1.64 and a debt-to-equity ratio of 0.51. Medtronic PLC has a 12 month low of $69.35 and a 12 month high of $89.72. The stock has a market cap of $107,459.70, a price-to-earnings ratio of 16.92, a P/E/G ratio of 2.19 and a beta of 1.00.

Medtronic PLC (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.04. The company had revenue of $7.39 billion during the quarter, compared to analysts’ expectations of $7.44 billion. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.03 earnings per share. research analysts anticipate that Medtronic PLC will post 4.66 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 20th. Shareholders of record on Friday, September 29th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend was Thursday, September 28th. Medtronic PLC’s dividend payout ratio is presently 61.95%.

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Several research firms have weighed in on MDT. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Medtronic PLC in a research report on Tuesday, July 18th. BidaskClub downgraded shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Zacks Investment Research downgraded shares of Medtronic PLC from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Deutsche Bank AG set a $96.00 target price on shares of Medtronic PLC and gave the stock a “buy” rating in a research report on Monday, July 31st. Finally, Cowen and Company set a $95.00 target price on shares of Medtronic PLC and gave the stock a “buy” rating in a research report on Tuesday, August 22nd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Medtronic PLC presently has a consensus rating of “Hold” and a consensus target price of $87.88.

About Medtronic PLC

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.

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

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