BTC Capital Management Inc. Has $2.30 Million Holdings in Medtronic plc. (MDT)

BTC Capital Management Inc. trimmed its holdings in Medtronic plc. (NYSE:MDT) by 6.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,581 shares of the medical technology company’s stock after selling 1,918 shares during the period. BTC Capital Management Inc.’s holdings in Medtronic were worth $2,300,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in MDT. Parkside Financial Bank & Trust raised its holdings in Medtronic by 22.4% in the second quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock valued at $102,000 after acquiring an additional 210 shares in the last quarter. BDO Wealth Advisors LLC acquired a new stake in Medtronic during the second quarter worth approximately $103,000. Motco grew its position in shares of Medtronic by 8.7% during the second quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after acquiring an additional 99 shares during the last quarter. Quadrant Capital Group LLC grew its position in shares of Medtronic by 21.5% during the second quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock worth $114,000 after acquiring an additional 290 shares during the last quarter. Finally, Israel Discount Bank of New York purchased a new position in shares of Medtronic during the first quarter worth approximately $117,000. 81.72% of the stock is owned by institutional investors.

In other Medtronic news, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $78.03, for a total value of $1,248,480.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Richard Kuntz sold 78,526 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $86.21, for a total value of $6,769,726.46. Following the completion of the transaction, the vice president now owns 149,761 shares of the company’s stock, valued at approximately $12,910,895.81. The disclosure for this sale can be found here. Insiders have sold a total of 152,684 shares of company stock valued at $12,831,076 in the last quarter. Company insiders own 0.31% of the company’s stock.

A number of equities analysts have recently issued reports on MDT shares. Jefferies Group restated a “buy” rating and set a $96.00 target price on shares of Medtronic in a research report on Thursday, September 28th. SunTrust Banks reiterated a “buy” rating and issued a $96.00 price objective on shares of Medtronic in a research report on Monday, October 2nd. Wells Fargo & Co lowered shares of Medtronic from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $93.00 to $83.00 in a research report on Monday, October 9th. Royal Bank of Canada lowered their price objective on shares of Medtronic from $90.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, October 9th. Finally, Stifel Nicolaus decreased their target price on shares of Medtronic from $91.00 to $83.00 and set a “hold” rating on the stock in a research report on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $89.65.

Medtronic plc. (NYSE MDT) traded up $0.24 during midday trading on Thursday, hitting $85.73. 3,800,700 shares of the stock were exchanged, compared to its average volume of 5,594,702. Medtronic plc. has a one year low of $73.59 and a one year high of $89.72. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.05 and a current ratio of 2.40. The firm has a market cap of $115,710.00, a P/E ratio of 23.55, a P/E/G ratio of 2.35 and a beta of 0.99.

Medtronic (NYSE:MDT) last posted its quarterly earnings data 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 the consensus estimate of $7.05 billion. During the same quarter in the prior year, the company posted $1.12 EPS. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. analysts expect that Medtronic plc. will post 4.77 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Stockholders 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 dividend yield of 2.15%. The ex-dividend date of this dividend is Thursday, December 28th. Medtronic’s payout ratio is currently 50.55%.

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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.

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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