Game Creek Capital LP Boosts Stock Holdings in Medtronic plc (NYSE:MDT)

Game Creek Capital LP boosted its stake in shares of Medtronic plc (NYSE:MDTGet Rating) by 3.8% during the third quarter, HoldingsChannel.com reports. The firm owned 20,500 shares of the medical technology company’s stock after acquiring an additional 750 shares during the period. Game Creek Capital LP’s holdings in Medtronic were worth $1,655,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of MDT. Fairfield Bush & CO. purchased a new position in Medtronic during the first quarter worth approximately $47,000. MAS Advisors LLC raised its stake in Medtronic by 10.3% during the first quarter. MAS Advisors LLC now owns 2,388 shares of the medical technology company’s stock worth $266,000 after purchasing an additional 223 shares during the period. LSV Asset Management raised its stake in Medtronic by 34.5% during the first quarter. LSV Asset Management now owns 7,400 shares of the medical technology company’s stock worth $821,000 after purchasing an additional 1,900 shares during the period. NewEdge Advisors LLC raised its stake in Medtronic by 22.8% during the first quarter. NewEdge Advisors LLC now owns 74,914 shares of the medical technology company’s stock worth $8,312,000 after purchasing an additional 13,895 shares during the period. Finally, Kinneret Advisory LLC raised its stake in Medtronic by 2.3% during the first quarter. Kinneret Advisory LLC now owns 15,340 shares of the medical technology company’s stock worth $1,712,000 after purchasing an additional 343 shares during the period. Hedge funds and other institutional investors own 80.37% of the company’s stock.

Insiders Place Their Bets

In other Medtronic news, EVP Sean Salmon sold 16,631 shares of the firm’s stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $80.50, for a total transaction of $1,338,795.50. Following the completion of the transaction, the executive vice president now directly owns 36,088 shares of the company’s stock, valued at approximately $2,905,084. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.29% of the stock is owned by company insiders.

Medtronic Price Performance

Shares of MDT stock opened at $80.80 on Wednesday. The firm has a market cap of $107.48 billion, a P/E ratio of 25.09, a P/E/G ratio of 2.02 and a beta of 0.72. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.76 and a quick ratio of 1.41. Medtronic plc has a 1-year low of $75.76 and a 1-year high of $114.31. The firm has a fifty day moving average of $78.88 and a two-hundred day moving average of $84.57.

Medtronic (NYSE:MDTGet Rating) last announced its quarterly earnings data on Tuesday, November 22nd. The medical technology company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.02. The company had revenue of $7.59 billion during the quarter, compared to analyst estimates of $7.70 billion. Medtronic had a net margin of 14.03% and a return on equity of 13.52%. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period last year, the business earned $1.32 EPS. As a group, research analysts anticipate that Medtronic plc will post 5.26 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Wednesday, December 21st were issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 3.37%. The ex-dividend date was Tuesday, December 20th. Medtronic’s dividend payout ratio is currently 84.47%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MDT. Jefferies Financial Group began coverage on shares of Medtronic in a research note on Wednesday, October 12th. They issued a “hold” rating and a $87.00 target price on the stock. Cowen cut their target price on shares of Medtronic from $117.00 to $90.00 in a research note on Wednesday, November 23rd. Cowen cut their target price on shares of Medtronic from $117.00 to $90.00 in a research note on Wednesday, November 23rd. Morgan Stanley cut their target price on shares of Medtronic from $97.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 23rd. Finally, Royal Bank of Canada downgraded shares of Medtronic from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $102.00 to $89.00 in a research note on Monday, January 9th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $94.25.

Medtronic Company Profile

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Medtronic Plc is a medical technology company, which engages in the development, manufacture, distribution, and sale of device-based medical therapies and services. It operates through the following segments: Cardiovascular Porrtfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit.

Further Reading

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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