Dana Investment Advisors Inc. Lowers Stock Position in Medtronic plc (NYSE:MDT)

Dana Investment Advisors Inc. lessened its holdings in Medtronic plc (NYSE:MDT) by 4.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,450 shares of the medical technology company’s stock after selling 114 shares during the period. Dana Investment Advisors Inc.’s holdings in Medtronic were worth $304,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in MDT. Grandview Asset Management LLC purchased a new stake in shares of Medtronic in the 1st quarter worth approximately $25,000. Solstein Capital LLC purchased a new stake in shares of Medtronic in the 1st quarter worth approximately $33,000. Altshuler Shaham Ltd purchased a new stake in Medtronic during the first quarter valued at approximately $34,000. Corbenic Partners LLC lifted its position in Medtronic by 264.2% during the second quarter. Corbenic Partners LLC now owns 295 shares of the medical technology company’s stock valued at $37,000 after acquiring an additional 214 shares during the last quarter. Finally, Aspire Private Capital LLC lifted its position in Medtronic by 1,316.7% during the first quarter. Aspire Private Capital LLC now owns 340 shares of the medical technology company’s stock valued at $40,000 after acquiring an additional 316 shares during the last quarter. 79.59% of the stock is owned by hedge funds and other institutional investors.

MDT stock opened at $130.58 on Wednesday. The firm has a market cap of $175.49 billion, a PE ratio of 45.66, a P/E/G ratio of 2.62 and a beta of 0.80. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.34 and a current ratio of 2.89. The firm’s fifty day moving average is $129.86 and its 200 day moving average is $125.79. Medtronic plc has a one year low of $98.94 and a one year high of $135.89.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Monday, August 23rd. The medical technology company reported $1.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.09. The company had revenue of $7.99 billion for the quarter, compared to analyst estimates of $7.88 billion. Medtronic had a net margin of 12.29% and a return on equity of 13.85%. The firm’s revenue was up 22.7% on a year-over-year basis. During the same quarter last year, the business earned $0.62 earnings per share. Research analysts predict that Medtronic plc will post 5.7 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Friday, September 24th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Thursday, September 23rd.

In other news, CEO Geoffrey Martha sold 11,500 shares of the firm’s stock in a transaction dated Monday, June 28th. The shares were sold at an average price of $125.29, for a total value of $1,440,835.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Bradley E. Lerman sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 2nd. The stock was sold at an average price of $131.52, for a total transaction of $526,080.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 106,390 shares of company stock worth $14,140,470. Insiders own 0.47% of the company’s stock.

A number of equities research analysts recently commented on MDT shares. increased their target price on shares of Medtronic from $133.00 to $143.00 and gave the company a “buy” rating in a research report on Friday, May 28th. Citigroup reissued a “focus list” rating and set a $153.00 target price (up previously from $143.00) on shares of Medtronic in a research report on Wednesday, August 25th. Argus increased their target price on shares of Medtronic from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, August 27th. Credit Suisse Group raised their price target on shares of Medtronic from $137.00 to $146.00 and gave the stock an “outperform” rating in a report on Wednesday, August 25th. Finally, SVB Leerink raised their price target on shares of Medtronic from $129.00 to $138.00 and gave the stock a “market perform” rating in a report on Friday, May 28th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $144.18.

Medtronic Profile

Medtronic Plc is a medical technology company, which engages in the development, manufacture, distribution, and sale of device-based medical therapies and services. It operates through the following 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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