Jones Financial Companies Lllp Acquires 136,000 Shares of Medtronic plc (NYSE:MDT)

Jones Financial Companies Lllp lifted its holdings in shares of Medtronic plc (NYSE:MDT) by 35.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 522,027 shares of the medical technology company’s stock after purchasing an additional 136,000 shares during the period. Jones Financial Companies Lllp’s holdings in Medtronic were worth $41,699,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Medtronic by 436.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company’s stock worth $661,125,000 after acquiring an additional 5,975,110 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Medtronic by 2,043.4% in the fourth quarter. Van ECK Associates Corp now owns 2,598,150 shares of the medical technology company’s stock worth $207,540,000 after purchasing an additional 2,476,935 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Medtronic by 65.0% in the third quarter. Bank of Montreal Can now owns 4,546,819 shares of the medical technology company’s stock worth $406,122,000 after buying an additional 1,790,483 shares during the period. Janus Henderson Group PLC raised its holdings in Medtronic by 58.4% during the 3rd quarter. Janus Henderson Group PLC now owns 3,850,914 shares of the medical technology company’s stock valued at $346,705,000 after buying an additional 1,420,263 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC boosted its position in Medtronic by 5,124.5% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 1,035,708 shares of the medical technology company’s stock valued at $93,245,000 after buying an additional 1,015,884 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

Medtronic stock opened at $92.00 on Friday. The stock’s 50 day moving average is $87.08 and its 200 day moving average is $87.46. The company has a market capitalization of $117.97 billion, a P/E ratio of 27.96, a PEG ratio of 2.22 and a beta of 0.84. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $93.08. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.03. The firm had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. On average, equities research analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.04%. Medtronic’s dividend payout ratio is presently 85.11%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MDT. Sanford C. Bernstein upped their price objective on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. cut their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Royal Bank of Canada reissued an “outperform” rating and set a $105.00 target price on shares of Medtronic in a research note on Wednesday, February 19th. UBS Group raised their price target on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Finally, Robert W. Baird boosted their price objective on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $95.00.

Insider Activity

In related news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the sale, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.20% of the company’s stock.

Medtronic Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.