First Capital Advisors Group LLC. Lowers Holdings in Medtronic PLC (MDT)

First Capital Advisors Group LLC. trimmed its stake in Medtronic PLC (NYSE:MDT) by 31.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,526 shares of the medical technology company’s stock after selling 2,071 shares during the period. First Capital Advisors Group LLC.’s holdings in Medtronic were worth $352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Advantus Capital Management Inc lifted its position in shares of Medtronic by 0.4% in the 1st quarter. Advantus Capital Management Inc now owns 137,521 shares of the medical technology company’s stock worth $11,079,000 after purchasing an additional 497 shares during the period. Homrich & Berg lifted its position in shares of Medtronic by 19.0% in the 1st quarter. Homrich & Berg now owns 4,991 shares of the medical technology company’s stock worth $402,000 after purchasing an additional 798 shares during the period. Westside Investment Management Inc. lifted its position in shares of Medtronic by 114.5% in the 1st quarter. Westside Investment Management Inc. now owns 13,476 shares of the medical technology company’s stock worth $1,081,000 after purchasing an additional 7,193 shares during the period. Israel Discount Bank of New York purchased a new stake in shares of Medtronic in the 1st quarter worth approximately $117,000. Finally, Sentry Investments Corp. lifted its position in shares of Medtronic by 0.5% in the 1st quarter. Sentry Investments Corp. now owns 1,093,500 shares of the medical technology company’s stock worth $88,092,000 after purchasing an additional 5,100 shares during the period. 81.86% of the stock is owned by institutional investors.

Medtronic PLC (MDT) traded up $0.20 during trading hours on Tuesday, hitting $81.27. 3,501,300 shares of the stock were exchanged, compared to its average volume of 4,952,796. Medtronic PLC has a 1 year low of $69.35 and a 1 year high of $89.72. The firm has a market capitalization of $110,000.00, a price-to-earnings ratio of 17.47, a P/E/G ratio of 2.24 and a beta of 1.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.40 and a quick ratio of 2.05.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $7.05 billion. During the same period in the prior year, the firm posted $1.12 earnings per share. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. equities research analysts forecast that Medtronic PLC will post 4.77 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Friday, December 29th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Thursday, December 28th. Medtronic’s dividend payout ratio (DPR) is presently 50.55%.

Several research firms recently commented on MDT. BMO Capital Markets boosted their price objective on shares of Medtronic to $94.00 and gave the stock an “outperform” rating in a research note on Tuesday. Argus upgraded shares of Medtronic from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $81.27 to $95.00 in a research note on Tuesday. They noted that the move was a valuation call. SunTrust Banks reiterated a “buy” rating and set a $96.00 price objective on shares of Medtronic in a research note on Monday, October 2nd. Jefferies Group reiterated a “buy” rating and set a $96.00 price objective on shares of Medtronic in a research note on Thursday, September 28th. Finally, UBS reiterated an “overweight” rating on shares of Medtronic in a research note on Thursday, August 24th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $88.57.

In other Medtronic news, CEO Omar Ishrak sold 140,407 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 668,503 shares of the company’s stock, valued at $54,569,899.89. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction on Monday, October 16th. The shares were sold at an average price of $78.03, for a total transaction of $1,248,480.00. The disclosure for this sale can be found here. Insiders have sold 172,407 shares of company stock worth $13,974,223 over the last three months. 0.31% of the stock is currently owned by insiders.

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Medtronic Company Profile

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.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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