CLARET ASSET MANAGEMENT Corp Decreases Holdings in Medtronic PLC (NYSE:MDT)

CLARET ASSET MANAGEMENT Corp trimmed its holdings in shares of Medtronic PLC (NYSE:MDT) by 2.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 52,821 shares of the medical technology company’s stock after selling 1,101 shares during the period. Medtronic accounts for about 1.2% of CLARET ASSET MANAGEMENT Corp’s holdings, making the stock its 23rd biggest holding. CLARET ASSET MANAGEMENT Corp’s holdings in Medtronic were worth $5,737,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the stock. Nachman Norwood & Parrott Inc lifted its holdings in Medtronic by 1.9% in the 3rd quarter. Nachman Norwood & Parrott Inc now owns 5,400 shares of the medical technology company’s stock worth $587,000 after buying an additional 99 shares in the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. raised its stake in shares of Medtronic by 2.1% in the 2nd quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 4,782 shares of the medical technology company’s stock valued at $466,000 after purchasing an additional 100 shares in the last quarter. Pekin Hardy Strauss Inc. raised its stake in shares of Medtronic by 1.5% in the 2nd quarter. Pekin Hardy Strauss Inc. now owns 6,773 shares of the medical technology company’s stock valued at $660,000 after purchasing an additional 100 shares in the last quarter. Affiance Financial LLC raised its stake in shares of Medtronic by 1.3% in the 3rd quarter. Affiance Financial LLC now owns 8,074 shares of the medical technology company’s stock valued at $877,000 after purchasing an additional 102 shares in the last quarter. Finally, Cornerstone Advisors Inc. raised its stake in shares of Medtronic by 8.1% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,621 shares of the medical technology company’s stock valued at $158,000 after purchasing an additional 122 shares in the last quarter. 81.03% of the stock is owned by hedge funds and other institutional investors.

In other Medtronic news, SVP Bradley E. Lerman sold 6,599 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $102.02, for a total value of $673,229.98. Following the completion of the transaction, the senior vice president now owns 105,960 shares in the company, valued at approximately $10,810,039.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Hooman Hakami sold 82,877 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $107.31, for a total transaction of $8,893,530.87. Following the completion of the transaction, the executive vice president now owns 30,761 shares of the company’s stock, valued at approximately $3,300,962.91. The disclosure for this sale can be found here. In the last quarter, insiders have sold 118,339 shares of company stock worth $12,619,053. 0.28% of the stock is owned by company insiders.

MDT traded up $0.53 on Friday, hitting $107.95. 125,546 shares of the company’s stock were exchanged, compared to its average volume of 4,680,946. The firm has a market cap of $140.89 billion, a PE ratio of 20.69, a P/E/G ratio of 2.58 and a beta of 0.64. Medtronic PLC has a twelve month low of $81.66 and a twelve month high of $112.05. The stock has a fifty day moving average of $108.18 and a two-hundred day moving average of $97.98. The company has a current ratio of 2.67, a quick ratio of 2.20 and a debt-to-equity ratio of 0.49.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.08. The firm had revenue of $7.49 billion for the quarter, compared to analyst estimates of $7.40 billion. Medtronic had a net margin of 14.41% and a return on equity of 14.36%. Medtronic’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.17 earnings per share. On average, analysts predict that Medtronic PLC will post 5.56 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Friday, September 27th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $2.16 annualized dividend and a yield of 2.00%. Medtronic’s dividend payout ratio (DPR) is 41.38%.

A number of equities research analysts have recently issued reports on the stock. Deutsche Bank upped their target price on shares of Medtronic from $100.00 to $111.00 and gave the company a “buy” rating in a research note on Monday, August 19th. ValuEngine lowered shares of Medtronic from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Northland Securities restated a “hold” rating and issued a $100.00 target price on shares of Medtronic in a research note on Wednesday, August 21st. Cowen restated an “outperform” rating and issued a $111.00 target price (up previously from $99.00) on shares of Medtronic in a research note on Wednesday, August 14th. Finally, Royal Bank of Canada set a $110.00 target price on shares of Medtronic and gave the company a “buy” rating in a research note on Friday, August 16th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $113.84.

Medtronic Company Profile

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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