Medtronic PLC (MDT) Shares Sold by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. lowered its stake in Medtronic PLC (NYSE:MDT) by 47.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 450,843 shares of the medical technology company’s stock after selling 412,721 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in Medtronic were worth $35,063,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in MDT. Edge Asset Management Inc. increased its holdings in shares of Medtronic by 0.8% in the 1st quarter. Edge Asset Management Inc. now owns 1,560,427 shares of the medical technology company’s stock worth $125,708,000 after buying an additional 12,258 shares during the last quarter. Advantus Capital Management Inc grew its holdings in Medtronic by 0.4% during the 1st quarter. Advantus Capital Management Inc now owns 137,521 shares of the medical technology company’s stock valued at $11,079,000 after purchasing an additional 497 shares during the last quarter. Homrich & Berg grew its holdings in Medtronic by 19.0% during the 1st quarter. Homrich & Berg now owns 4,991 shares of the medical technology company’s stock valued at $402,000 after purchasing an additional 798 shares during the last quarter. Westside Investment Management Inc. grew its holdings in Medtronic by 114.5% during the 1st quarter. Westside Investment Management Inc. now owns 13,476 shares of the medical technology company’s stock valued at $1,081,000 after purchasing an additional 7,193 shares during the last quarter. Finally, Israel Discount Bank of New York bought a new position in Medtronic during the 1st quarter valued at about $117,000. Institutional investors and hedge funds own 81.85% of the company’s stock.

Several brokerages recently commented on MDT. Jefferies Group reiterated a “buy” rating and set a $99.00 price target on shares of Medtronic in a report on Thursday, November 23rd. Zacks Investment Research upgraded shares of Medtronic from a “sell” rating to a “hold” rating in a report on Thursday, November 23rd. Northland Securities reiterated a “hold” rating and set a $80.00 price target on shares of Medtronic in a report on Wednesday, November 22nd. Oppenheimer reiterated a “buy” rating and set a $94.00 price target on shares of Medtronic in a report on Wednesday, November 22nd. Finally, Stifel Nicolaus upped their price target on shares of Medtronic from $83.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, November 22nd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $88.02.

In related news, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $79.02, for a total transaction of $1,264,320.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Omar Ishrak sold 140,407 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the sale, the chief executive officer now directly owns 668,503 shares of the company’s stock, valued at approximately $54,569,899.89. The disclosure for this sale can be found here. Insiders have sold 172,407 shares of company stock valued at $13,974,223 in the last three months. 0.31% of the stock is currently owned by corporate insiders.

Medtronic PLC (NYSE:MDT) traded up $1.05 during trading hours on Wednesday, reaching $80.92. 5,392,200 shares of the company were exchanged, compared to its average volume of 4,959,266. Medtronic PLC has a 12 month low of $69.35 and a 12 month high of $89.72. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.40 and a quick ratio of 2.05. The stock has a market capitalization of $108,103.88, a PE ratio of 17.21, a price-to-earnings-growth ratio of 2.20 and a beta of 1.00.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.08. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The company had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $7.05 billion. During the same quarter in the prior year, the company posted $1.12 earnings per share. Medtronic’s revenue for the quarter was down 4.0% compared to the same quarter last year. equities analysts anticipate that Medtronic PLC will post 4.77 earnings per share for the current fiscal year.

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About Medtronic

Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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