Medtronic PLC (NYSE:MDT) Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC cut its stake in Medtronic PLC (NYSE:MDT) by 6.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 51,442 shares of the medical technology company’s stock after selling 3,462 shares during the period. Sequoia Financial Advisors LLC’s holdings in Medtronic were worth $5,588,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of MDT. Nuveen Asset Management LLC raised its holdings in Medtronic by 12,846.1% in the second quarter. Nuveen Asset Management LLC now owns 8,157,866 shares of the medical technology company’s stock valued at $794,495,000 after acquiring an additional 8,094,852 shares in the last quarter. Longview Partners Guernsey LTD raised its holdings in Medtronic by 46.0% in the second quarter. Longview Partners Guernsey LTD now owns 8,843,721 shares of the medical technology company’s stock valued at $861,290,000 after acquiring an additional 2,787,443 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Medtronic in the second quarter valued at $214,895,000. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Medtronic by 9.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,499,865 shares of the medical technology company’s stock valued at $1,412,142,000 after acquiring an additional 1,251,830 shares in the last quarter. Finally, Boston Partners raised its holdings in Medtronic by 14.9% in the second quarter. Boston Partners now owns 9,655,784 shares of the medical technology company’s stock valued at $940,555,000 after acquiring an additional 1,250,545 shares in the last quarter. 81.14% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of MDT stock traded up $0.16 during trading hours on Tuesday, reaching $106.78. The stock had a trading volume of 105,025 shares, compared to its average volume of 3,685,572. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.67 and a quick ratio of 2.20. Medtronic PLC has a twelve month low of $81.66 and a twelve month high of $112.05. The firm has a 50-day simple moving average of $108.34 and a 200-day simple moving average of $98.93. The firm has a market capitalization of $145.06 billion, a PE ratio of 20.46, a price-to-earnings-growth ratio of 2.66 and a beta of 0.64.

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

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

MDT has been the topic of several recent analyst reports. UBS Group upped their price target on shares of Medtronic from $112.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Royal Bank of Canada set a $110.00 target price on shares of Medtronic and gave the stock a “buy” rating in a report on Friday, August 16th. Northland Securities reissued a “hold” rating and set a $100.00 target price on shares of Medtronic in a report on Wednesday, August 21st. ValuEngine cut shares of Medtronic from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Co increased their target price on shares of Medtronic from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $113.84.

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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