Xact Kapitalforvaltning AB lifted its stake in shares of Medtronic plc. (NYSE:MDT) by 6.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 240,406 shares of the medical technology company’s stock after buying an additional 15,053 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in Medtronic were worth $19,413,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in MDT. Janus Henderson Group PLC acquired a new stake in shares of Medtronic during the third quarter worth approximately $579,952,000. BlackRock Inc. grew its position in shares of Medtronic by 6.4% during 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 in the last quarter. American Century Companies Inc. grew its position in shares of Medtronic by 35.0% during the third quarter. American Century Companies Inc. now owns 9,082,452 shares of the medical technology company’s stock worth $706,342,000 after buying an additional 2,354,467 shares in the last quarter. Asset Management One Co. Ltd. grew its position in shares of Medtronic by 3,863.2% during the third quarter. Asset Management One Co. Ltd. now owns 2,064,912 shares of the medical technology company’s stock worth $160,588,000 after buying an additional 2,012,810 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Medtronic by 20.7% during the third quarter. Ameriprise Financial Inc. now owns 11,388,438 shares of the medical technology company’s stock worth $885,673,000 after buying an additional 1,954,535 shares in the last quarter. 81.19% of the stock is owned by institutional investors and hedge funds.
In related news, VP Richard Kuntz sold 78,526 shares of Medtronic stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $86.21, for a total transaction of $6,769,726.46. Following the sale, the vice president now directly owns 149,761 shares in the company, valued at $12,910,895.81. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James T. Lenehan sold 1,306 shares of Medtronic stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $83.56, for a total transaction of $109,129.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 130,469 shares of company stock worth $11,016,054. Company insiders own 0.31% of the company’s stock.
Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.01. Medtronic had a net margin of 9.44% and a return on equity of 12.65%. The company had revenue of $7.37 billion during the quarter, compared to the consensus estimate of $7.20 billion. During the same quarter in the previous year, the company posted $1.12 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. sell-side analysts expect that Medtronic plc. will post 4.74 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Friday, March 23rd will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Thursday, March 22nd. Medtronic’s dividend payout ratio is currently 90.64%.
MDT has been the subject of a number of research reports. Bank of America raised shares of Medtronic from a “neutral” rating to a “buy” rating in a report on Tuesday, January 2nd. Argus raised shares of Medtronic from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $81.27 to $95.00 in a report on Tuesday, December 12th. They noted that the move was a valuation call. Oppenheimer reaffirmed a “buy” rating on shares of Medtronic in a report on Thursday, December 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $92.00 price objective on shares of Medtronic in a report on Wednesday, February 14th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $99.00 price objective on shares of Medtronic in a report on Thursday, November 23rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $91.50.
COPYRIGHT VIOLATION NOTICE: “Xact Kapitalforvaltning AB Has $19.41 Million Stake in Medtronic plc. (MDT)” was first published by Ticker Report and is owned by of Ticker Report. If you are reading this news story on another domain, it was copied illegally and republished in violation of US and international copyright law. The legal version of this news story can be accessed at https://www.tickerreport.com/banking-finance/3293870/xact-kapitalforvaltning-ab-has-19-41-million-stake-in-medtronic-plc-mdt.html.
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.
Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic plc. (NYSE:MDT).
Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.