Nan Shan Life Insurance Co. Ltd. Has $835,000 Position in Medtronic PLC $MDT

Nan Shan Life Insurance Co. Ltd. lowered its stake in shares of Medtronic PLC (NYSE:MDT) by 97.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 9,291 shares of the medical technology company’s stock after selling 345,707 shares during the period. Nan Shan Life Insurance Co. Ltd.’s holdings in Medtronic were worth $835,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MDT. Brighton Jones LLC boosted its stake in shares of Medtronic by 1,368.0% during the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after buying an additional 37,265 shares during the period. First Trust Advisors LP lifted its stake in shares of Medtronic by 1.3% in the 4th quarter. First Trust Advisors LP now owns 954,771 shares of the medical technology company’s stock valued at $76,267,000 after purchasing an additional 12,706 shares during the last quarter. MML Investors Services LLC lifted its stake in shares of Medtronic by 13.6% in the 4th quarter. MML Investors Services LLC now owns 285,318 shares of the medical technology company’s stock valued at $22,791,000 after purchasing an additional 34,218 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Medtronic by 54.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 73,128 shares of the medical technology company’s stock valued at $5,841,000 after purchasing an additional 25,933 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. lifted its stake in shares of Medtronic by 14.3% in the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 1,874,734 shares of the medical technology company’s stock valued at $149,754,000 after purchasing an additional 234,629 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

NYSE:MDT opened at $92.74 on Tuesday. The firm’s 50-day moving average is $89.43 and its 200-day moving average is $87.97. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $96.25. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.42 and a current ratio of 1.85. The company has a market cap of $118.87 billion, a price-to-earnings ratio of 25.62, a PEG ratio of 2.42 and a beta of 0.80.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.04. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The company had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.81 billion. During the same quarter in the previous year, the firm posted $1.46 EPS. The business’s revenue was up 3.9% compared to the same quarter last year. Equities research analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be issued a dividend of $0.71 per share. The ex-dividend date is Friday, September 26th. This represents a $2.84 annualized dividend and a dividend yield of 3.1%. Medtronic’s payout ratio is presently 78.45%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MDT shares. Wolfe Research raised shares of Medtronic from an “underperform” rating to a “peer perform” rating in a research note on Monday, June 30th. Citigroup lifted their price objective on shares of Medtronic from $98.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. William Blair raised shares of Medtronic to a “hold” rating in a research note on Friday, July 11th. Leerink Partners started coverage on shares of Medtronic in a research note on Monday, June 16th. They issued an “outperform” rating and a $110.00 price objective for the company. Finally, Wall Street Zen lowered shares of Medtronic from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Twelve analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Medtronic presently has a consensus rating of “Moderate Buy” and an average price target of $98.19.

About Medtronic

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.