UBS Asset Management Americas Inc. Has $320.64 Million Stake in Medtronic plc. (MDT)
UBS Asset Management Americas Inc. lifted its stake in Medtronic plc. (NYSE:MDT) by 0.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,970,709 shares of the medical technology company’s stock after buying an additional 690 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.29% of Medtronic worth $320,635,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Captrust Financial Advisors bought a new position in Medtronic in the 2nd quarter valued at about $384,000. Chilton Investment Co. LLC increased its stake in Medtronic by 6.1% in the 2nd quarter. Chilton Investment Co. LLC now owns 26,842 shares of the medical technology company’s stock valued at $2,382,000 after buying an additional 1,538 shares during the last quarter. Moors & Cabot Inc. increased its stake in Medtronic by 0.4% in the 2nd quarter. Moors & Cabot Inc. now owns 43,227 shares of the medical technology company’s stock valued at $3,842,000 after buying an additional 178 shares during the last quarter. Sawtooth Solutions LLC purchased a new stake in Medtronic in the 2nd quarter valued at about $208,000. Finally, Prudential Financial Inc. increased its stake in Medtronic by 1.6% in the 3rd quarter. Prudential Financial Inc. now owns 3,308,500 shares of the medical technology company’s stock valued at $257,302,000 after buying an additional 53,474 shares during the last quarter. Institutional investors and hedge funds own 80.79% of the company’s stock.
In related news, Director James T. Lenehan sold 1,306 shares of the business’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $83.56, for a total transaction of $109,129.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Richard Kuntz sold 78,526 shares of the business’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $86.21, for a total transaction of $6,769,726.46. Following the transaction, the vice president now owns 149,761 shares in the company, valued at approximately $12,910,895.81. The disclosure for this sale can be found here. Insiders sold 130,469 shares of company stock worth $11,016,054 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.
Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.01. Medtronic had a net margin of 9.44% and a return on equity of 12.65%. The firm had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.20 billion. During the same quarter in the previous year, the company earned $1.12 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. analysts forecast that Medtronic plc. will post 4.75 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Friday, March 23rd will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Thursday, March 22nd. Medtronic’s payout ratio is 90.20%.
MDT has been the subject of several analyst reports. SunTrust Banks set a $92.00 price objective on shares of Medtronic and gave the company a “buy” rating in a research note on Sunday, November 19th. Evercore ISI began coverage on shares of Medtronic in a research note on Wednesday, January 3rd. They issued an “outperform” rating and a $92.50 price objective for the company. Citigroup restated a “buy” rating and set a $93.00 price target (down previously from $100.00) on shares of Medtronic in a research note on Thursday, February 22nd. Oppenheimer restated a “buy” rating on shares of Medtronic in a research note on Thursday, December 21st. Finally, BMO Capital Markets raised their price target on shares of Medtronic to $94.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the stock. Medtronic presently has a consensus rating of “Buy” and a consensus target price of $91.50.
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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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