Zurich Insurance Group Ltd FI Purchases New Stake in Medtronic plc (MDT)

Zurich Insurance Group Ltd FI purchased a new position in shares of Medtronic plc (NYSE:MDT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 253,612 shares of the medical technology company’s stock, valued at approximately $22,508,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Salem Investment Counselors Inc. lifted its holdings in Medtronic plc by 6.2% in the second quarter. Salem Investment Counselors Inc. now owns 2,114 shares of the medical technology company’s stock worth $188,000 after acquiring an additional 123 shares during the last quarter. Miles Capital Inc. lifted its holdings in Medtronic plc by 3.4% in the second quarter. Miles Capital Inc. now owns 2,581 shares of the medical technology company’s stock worth $229,000 after acquiring an additional 86 shares during the last quarter. Sun Life Financial INC lifted its holdings in Medtronic plc by 42,678.3% in the second quarter. Sun Life Financial INC now owns 25,667 shares of the medical technology company’s stock worth $2,282,000 after acquiring an additional 25,607 shares during the last quarter. Employees Retirement System of Texas lifted its holdings in Medtronic plc by 3.1% in the second quarter. Employees Retirement System of Texas now owns 458,690 shares of the medical technology company’s stock worth $40,709,000 after acquiring an additional 13,700 shares during the last quarter. Finally, Tudor Investment Corp ET AL lifted its holdings in Medtronic plc by 66.1% in the second quarter. Tudor Investment Corp ET AL now owns 19,585 shares of the medical technology company’s stock worth $1,738,000 after acquiring an additional 7,794 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, EVP Bryan C. Hanson sold 16,000 shares of Medtronic plc stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $79.02, for a total value of $1,264,320.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Omar Ishrak sold 140,407 shares of Medtronic plc stock in a transaction that occurred on Friday, September 15th. The stock was 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 owns 668,503 shares in the company, valued at approximately $54,569,899.89. The disclosure for this sale can be found here. In the last 90 days, insiders sold 172,407 shares of company stock worth $13,974,223. 0.31% of the stock is currently owned by company insiders.

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A number of equities analysts have issued reports on MDT shares. Needham & Company LLC reissued a “buy” rating and issued a $94.00 target price on shares of Medtronic plc in a report on Thursday, November 9th. BidaskClub cut shares of Medtronic plc from a “hold” rating to a “sell” rating in a report on Saturday, August 26th. Zacks Investment Research cut shares of Medtronic plc from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. Royal Bank Of Canada cut their target price on shares of Medtronic plc from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, October 9th. Finally, SunTrust Banks, Inc. reissued a “buy” rating and issued a $96.00 target price on shares of Medtronic plc in a report on Friday, November 3rd. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $87.88.

Medtronic plc (NYSE MDT) opened at $79.49 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.64 and a quick ratio of 1.40. The stock has a market cap of $106,580.00, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 2.16 and a beta of 1.00. Medtronic plc has a 12-month low of $69.35 and a 12-month high of $89.72.

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, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.04. The firm had revenue of $7.39 billion for the quarter, compared to analyst estimates of $7.44 billion. Medtronic plc had a net margin of 13.75% and a return on equity of 12.92%. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.03 earnings per share. equities analysts forecast that Medtronic plc will post 4.7 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 20th. Shareholders of record on Friday, September 29th were given a $0.46 dividend. The ex-dividend date was Thursday, September 28th. This represents a $1.84 annualized dividend and a yield of 2.31%. Medtronic plc’s dividend payout ratio (DPR) is 61.95%.

Medtronic plc Company 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.

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

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