Boston Partners Sells 148,126 Shares of Medtronic plc (NYSE:MDT)

Boston Partners lowered its stake in shares of Medtronic plc (NYSE:MDT) by 8.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,648,621 shares of the medical technology company’s stock after selling 148,126 shares during the quarter. Boston Partners owned about 0.12% of Medtronic worth $145,205,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MDT. Moneta Group Investment Advisors LLC increased its position in Medtronic by 127,655.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 14,160,371 shares of the medical technology company’s stock worth $1,100,544,000 after acquiring an additional 14,149,287 shares during the period. Norges Bank bought a new stake in Medtronic in the 4th quarter valued at $1,062,316,000. Bank of New York Mellon Corp increased its holdings in Medtronic by 33.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 19,374,686 shares of the medical technology company’s stock valued at $1,564,508,000 after buying an additional 4,816,172 shares during the period. Providence Capital Advisors LLC increased its holdings in Medtronic by 9,401.6% in the 1st quarter. Providence Capital Advisors LLC now owns 4,522,782 shares of the medical technology company’s stock valued at $56,100,000 after buying an additional 4,475,182 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in Medtronic by 29.0% in the 1st quarter. Ameriprise Financial Inc. now owns 15,322,448 shares of the medical technology company’s stock valued at $1,235,191,000 after buying an additional 3,443,262 shares during the period. Institutional investors own 80.75% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MDT. UBS Group boosted their price target on shares of Medtronic from $79.00 to $82.00 and gave the company a “sell” rating in a report on Wednesday, August 23rd. Wells Fargo & Company boosted their target price on shares of Medtronic from $100.00 to $102.00 and gave the company an “overweight” rating in a research note on Wednesday, August 23rd. Mizuho boosted their target price on shares of Medtronic from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, August 23rd. Oppenheimer restated a “market perform” rating and issued a $89.00 target price on shares of Medtronic in a research note on Wednesday, August 23rd. Finally, StockNews.com initiated coverage on shares of Medtronic in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Medtronic currently has a consensus rating of “Hold” and an average target price of $91.94.

Insider Activity

In related news, EVP Gregory L. Smith sold 10,000 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $83.84, for a total value of $838,400.00. Following the sale, the executive vice president now directly owns 46,723 shares of the company’s stock, valued at approximately $3,917,256.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.30% of the stock is currently owned by company insiders.

Medtronic Stock Performance

Medtronic stock opened at $74.75 on Friday. The company has a current ratio of 2.42, a quick ratio of 1.79 and a debt-to-equity ratio of 0.48. Medtronic plc has a 1 year low of $68.84 and a 1 year high of $92.02. The company has a market cap of $99.46 billion, a PE ratio of 27.58, a PEG ratio of 2.63 and a beta of 0.71. The company’s 50-day moving average is $75.20 and its two-hundred day moving average is $82.07.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.09. The company had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.57 billion. Medtronic had a return on equity of 13.81% and a net margin of 11.47%. Medtronic’s revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.13 EPS. Equities analysts anticipate that Medtronic plc will post 5.12 earnings per share for the current year.

Medtronic Company Profile

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.