Texas Permanent School Fund Lowers Stake in Medtronic plc. (MDT)

Texas Permanent School Fund cut its holdings in Medtronic plc. (NYSE:MDT) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 369,517 shares of the medical technology company’s stock after selling 5,881 shares during the quarter. Texas Permanent School Fund’s holdings in Medtronic were worth $29,838,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. BDO Wealth Advisors LLC purchased a new position in shares of Medtronic during the second quarter valued at approximately $103,000. Motco lifted its stake in shares of Medtronic by 8.7% during the second quarter. Motco now owns 1,239 shares of the medical technology company’s stock valued at $110,000 after buying an additional 99 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of Medtronic by 21.5% during the second quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock valued at $114,000 after buying an additional 290 shares during the period. Blue Chip Partners Inc. purchased a new position in shares of Medtronic during the third quarter valued at approximately $118,000. Finally, Westwood Holdings Group Inc. purchased a new position in shares of Medtronic during the second quarter valued at approximately $151,000. Institutional investors and hedge funds own 81.84% of the company’s stock.

In other news, VP Richard Kuntz sold 78,526 shares of the stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $86.21, for a total value of $6,769,726.46. Following the completion of the sale, the vice president now owns 149,761 shares of the company’s stock, valued at $12,910,895.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $82.82, for a total transaction of $1,325,120.00. Following the completion of the sale, the executive vice president now directly owns 88,818 shares of the company’s stock, valued at approximately $7,355,906.76. The disclosure for this sale can be found here. Insiders sold 136,684 shares of company stock valued at $11,582,596 in the last three months. Company insiders own 0.31% of the company’s stock.

MDT has been the topic of several recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $94.00 price objective on shares of Medtronic in a research note on Thursday, November 9th. SunTrust Banks set a $92.00 price target on shares of Medtronic and gave the stock a “buy” rating in a research note on Sunday, November 19th. Royal Bank of Canada cut their price target on shares of Medtronic from $90.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday, October 9th. Evercore ISI assumed coverage on shares of Medtronic in a research note on Wednesday, January 3rd. They set an “outperform” rating and a $92.50 price target on the stock. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $89.00 price target (down previously from $92.00) on shares of Medtronic in a research note on Tuesday, October 10th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $89.65.

Medtronic plc. (MDT) traded down $0.63 during trading on Tuesday, hitting $86.05. 5,926,900 shares of the stock traded hands, compared to its average volume of 5,806,479. Medtronic plc. has a 52 week low of $73.59 and a 52 week high of $89.72. The firm has a market capitalization of $116,470.00, a price-to-earnings ratio of 23.64, a P/E/G ratio of 2.39 and a beta of 0.99. The company has a quick ratio of 2.05, a current ratio of 2.40 and a debt-to-equity ratio of 0.50.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.08. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The company had revenue of $7.05 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same quarter in the prior year, the business earned $1.12 earnings per share. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. sell-side analysts forecast that Medtronic plc. will post 4.77 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 19th. Stockholders of record on Friday, December 29th were given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.14%. The ex-dividend date was Thursday, December 28th. Medtronic’s payout ratio is currently 50.55%.

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Medtronic 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 (NYSE:MDT)

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