Equity Investment Corp cut its position in shares of Medtronic plc. (NYSE:MDT) by 2.0% in the 4th quarter, Holdings Channel reports. The fund owned 1,254,704 shares of the medical technology company’s stock after selling 26,122 shares during the period. Medtronic comprises about 3.4% of Equity Investment Corp’s holdings, making the stock its 8th largest position. Equity Investment Corp’s holdings in Medtronic were worth $101,317,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Janus Henderson Group PLC purchased a new stake in shares of Medtronic in the third quarter worth about $579,952,000. Lazard Asset Management LLC boosted its position in shares of Medtronic by 43.8% in the second quarter. Lazard Asset Management LLC now owns 19,669,866 shares of the medical technology company’s stock worth $1,745,699,000 after buying an additional 5,991,094 shares during the period. BlackRock Inc. boosted its position in shares of Medtronic by 6.4% in the fourth quarter. BlackRock Inc. now owns 94,595,580 shares of the medical technology company’s stock worth $7,638,592,000 after buying an additional 5,688,180 shares during the period. Alliancebernstein L.P. boosted its position in shares of Medtronic by 135.5% in the second quarter. Alliancebernstein L.P. now owns 6,070,160 shares of the medical technology company’s stock worth $538,727,000 after buying an additional 3,493,058 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Medtronic by 2.4% in the second quarter. Vanguard Group Inc. now owns 104,776,036 shares of the medical technology company’s stock worth $9,298,872,000 after buying an additional 2,454,380 shares during the period. Institutional investors own 79.83% of the company’s stock.
In other Medtronic news, EVP Hooman Hakami sold 26,158 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $85.00, for a total transaction of $2,223,430.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $82.82, for a total value of $1,325,120.00. Following the sale, the executive vice president now owns 88,818 shares in the company, valued at approximately $7,355,906.76. The disclosure for this sale can be found here. Insiders have sold 120,684 shares of company stock worth $10,318,276 in the last 90 days. 0.31% of the stock is currently owned by insiders.
Shares of Medtronic plc. (NYSE MDT) opened at $81.24 on Wednesday. Medtronic plc. has a one year low of $76.51 and a one year high of $89.72. The stock has a market capitalization of $111,700.62, a P/E ratio of 17.57, a price-to-earnings-growth ratio of 2.34 and a beta of 0.93. The company has a current ratio of 2.43, a quick ratio of 2.09 and a debt-to-equity ratio of 0.51.
Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.01. Medtronic had a return on equity of 12.65% and a net margin of 9.44%. The firm had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.20 billion. During the same quarter in the prior year, the firm posted $1.12 earnings per share. Medtronic’s revenue for the quarter was up 1.2% compared to the same quarter last year. equities research analysts expect that Medtronic plc. will post 4.75 EPS for the current fiscal year.
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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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