Integrated Investment Consultants LLC Purchases Shares of 2,579 Medtronic PLC (NYSE:MDT)

Integrated Investment Consultants LLC purchased a new stake in Medtronic PLC (NYSE:MDT) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,579 shares of the medical technology company’s stock, valued at approximately $280,000.

A number of other large investors also recently made changes to their positions in the business. Ballentine Partners LLC grew its position in Medtronic by 9.7% in the third quarter. Ballentine Partners LLC now owns 6,163 shares of the medical technology company’s stock valued at $670,000 after acquiring an additional 546 shares during the period. Boston Trust Walden Corp grew its holdings in shares of Medtronic by 10.9% during the third quarter. Boston Trust Walden Corp now owns 508,304 shares of the medical technology company’s stock worth $55,212,000 after purchasing an additional 49,804 shares during the last quarter. Calamos Wealth Management LLC grew its holdings in shares of Medtronic by 1.4% during the third quarter. Calamos Wealth Management LLC now owns 48,650 shares of the medical technology company’s stock worth $5,284,000 after purchasing an additional 685 shares during the last quarter. Brinker Capital Inc. lifted its stake in shares of Medtronic by 0.3% during the third quarter. Brinker Capital Inc. now owns 103,808 shares of the medical technology company’s stock valued at $11,284,000 after acquiring an additional 302 shares during the period. Finally, Cypress Asset Management Inc. TX lifted its stake in shares of Medtronic by 2.0% during the third quarter. Cypress Asset Management Inc. TX now owns 21,275 shares of the medical technology company’s stock valued at $2,311,000 after acquiring an additional 425 shares during the period. Hedge funds and other institutional investors own 81.14% of the company’s stock.

Shares of NYSE:MDT traded up $0.18 during mid-day trading on Tuesday, reaching $106.80. 1,153,325 shares of the stock were exchanged, compared to its average volume of 3,685,572. The company has a quick ratio of 2.20, a current ratio of 2.67 and a debt-to-equity ratio of 0.49. The company has a market cap of $145.06 billion, a P/E ratio of 20.46, a P/E/G ratio of 2.66 and a beta of 0.64. Medtronic PLC has a one year low of $81.66 and a one year high of $112.05. The stock’s 50 day simple moving average is $108.34 and its 200-day simple moving average is $98.93.

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

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, September 27th were issued a dividend of $0.54 per share. The ex-dividend date was Thursday, September 26th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.02%. Medtronic’s payout ratio is presently 41.38%.

Several equities analysts have recently issued reports on MDT shares. ValuEngine lowered Medtronic from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Barclays upped their price target on Medtronic from $110.00 to $117.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Deutsche Bank upped their price target on Medtronic from $100.00 to $111.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Wells Fargo & Co increased their target price on Medtronic from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Finally, Stifel Nicolaus increased their target price on Medtronic from $95.00 to $112.00 and gave the company a “hold” rating in a research note on Wednesday, August 21st. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Medtronic currently has a consensus rating of “Buy” and an average target price of $113.84.

In other Medtronic news, SVP Richard Kuntz sold 21,425 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $107.51, for a total value of $2,303,401.75. Following the completion of the transaction, the senior vice president now directly owns 78,916 shares in the company, valued at $8,484,259.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Bradley E. Lerman sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $100.31, for a total value of $401,240.00. Following the completion of the transaction, the senior vice president now owns 52,906 shares of the company’s stock, valued at $5,307,000.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 114,901 shares of company stock valued at $12,271,403. 0.28% of the stock is owned by corporate insiders.

About Medtronic

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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