Blackhill Capital Inc. Sells 859 Shares of Medtronic PLC (NYSE:MDT)

Blackhill Capital Inc. reduced its position in shares of Medtronic PLC (NYSE:MDT) by 3.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,324 shares of the medical technology company’s stock after selling 859 shares during the quarter. Medtronic accounts for about 0.5% of Blackhill Capital Inc.’s investment portfolio, making the stock its 24th biggest holding. Blackhill Capital Inc.’s holdings in Medtronic were worth $2,284,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in MDT. S.E.E.D. Planning Group LLC bought a new stake in Medtronic during the 4th quarter valued at about $390,000. S.A. Mason LLC bought a new stake in shares of Medtronic in the fourth quarter worth approximately $57,000. Boys Arnold & Co. Inc. grew its stake in shares of Medtronic by 10.2% in the fourth quarter. Boys Arnold & Co. Inc. now owns 6,698 shares of the medical technology company’s stock worth $760,000 after acquiring an additional 621 shares during the period. Parkside Financial Bank & Trust grew its stake in shares of Medtronic by 8.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,574 shares of the medical technology company’s stock worth $178,000 after acquiring an additional 118 shares during the period. Finally, Putnam FL Investment Management Co. grew its stake in shares of Medtronic by 163.7% in the fourth quarter. Putnam FL Investment Management Co. now owns 41,746 shares of the medical technology company’s stock worth $4,736,000 after acquiring an additional 25,915 shares during the period. Institutional investors and hedge funds own 81.14% of the company’s stock.

Several analysts recently issued reports on the stock. Oppenheimer cut their target price on shares of Medtronic from $131.00 to $112.00 and set an “outperform” rating for the company in a research report on Friday, May 22nd. Credit Suisse Group restated a “buy” rating and set a $117.00 target price on shares of Medtronic in a research report on Friday, May 22nd. Deutsche Bank cut their target price on shares of Medtronic from $123.00 to $118.00 and set a “buy” rating for the company in a research report on Friday, May 22nd. UBS Group cut their target price on shares of Medtronic from $130.00 to $118.00 and set a “buy” rating for the company in a research report on Friday, May 22nd. Finally, CSFB restated a “buy” rating and set a $117.00 target price on shares of Medtronic in a research report on Saturday, May 23rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $114.53.

Shares of MDT stock traded down $0.96 during mid-day trading on Monday, hitting $97.62. The company had a trading volume of 81,397 shares, compared to its average volume of 5,424,097. Medtronic PLC has a 52-week low of $72.13 and a 52-week high of $122.15. The stock’s 50 day moving average price is $97.75 and its 200-day moving average price is $105.40. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.13 and a quick ratio of 1.72. The company has a market capitalization of $132.11 billion, a P/E ratio of 27.77, a P/E/G ratio of 3.72 and a beta of 0.68.

Medtronic (NYSE:MDT) last released its earnings results on Thursday, May 21st. The medical technology company reported $0.58 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.70). Medtronic had a return on equity of 12.17% and a net margin of 16.56%. The company had revenue of $6 billion during the quarter, compared to analysts’ expectations of $6.10 billion. During the same period last year, the firm posted $1.54 EPS. Medtronic’s quarterly revenue was down 26.4% compared to the same quarter last year. On average, equities research analysts expect that Medtronic PLC will post 3.51 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Thursday, June 25th. This is a boost from Medtronic’s previous quarterly dividend of $0.54. Medtronic’s payout ratio is currently 47.06%.

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.

Recommended Story: Oversold

Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic PLC (NYSE:MDT).

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.