Medtronic PLC (NYSE:MDT) Stake Increased by Tesco Pension Investment Ltd

Tesco Pension Investment Ltd raised its position in shares of Medtronic PLC (NYSE:MDT) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,228,666 shares of the medical technology company’s stock after buying an additional 58,231 shares during the period. Medtronic PLC comprises approximately 5.8% of Tesco Pension Investment Ltd’s investment portfolio, making the stock its 3rd largest position. Tesco Pension Investment Ltd owned 0.16% of Medtronic PLC worth $197,794,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Medtronic PLC by 4.5% in the first quarter. Vanguard Group Inc. now owns 102,321,656 shares of the medical technology company’s stock worth $8,243,034,000 after buying an additional 4,412,536 shares during the last quarter. BlackRock Inc. raised its stake in shares of Medtronic PLC by 2,513.4% in the first quarter. BlackRock Inc. now owns 87,035,376 shares of the medical technology company’s stock worth $7,011,571,000 after buying an additional 83,705,052 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Medtronic PLC by 3.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 58,646,070 shares of the medical technology company’s stock worth $4,724,526,000 after buying an additional 1,729,715 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of Medtronic PLC by 1,061.4% in the first quarter. Lazard Asset Management LLC now owns 13,678,772 shares of the medical technology company’s stock worth $1,101,960,000 after buying an additional 12,500,992 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Medtronic PLC by 7.3% in the first quarter. Geode Capital Management LLC now owns 13,308,812 shares of the medical technology company’s stock worth $1,070,622,000 after buying an additional 906,581 shares in the last quarter. 83.54% of the stock is currently owned by institutional investors.

Shares of Medtronic PLC (NYSE MDT) opened at 83.41 on Friday. Medtronic PLC has a 12 month low of $69.35 and a 12 month high of $89.72. The company has a market cap of $113.36 billion, a P/E ratio of 28.86 and a beta of 1.02. The company’s 50 day moving average is $85.48 and its 200 day moving average is $83.22.

Medtronic PLC (NYSE:MDT) last released its earnings results on Thursday, May 25th. The medical technology company reported $1.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.02. The company had revenue of $7.92 billion for the quarter, compared to analyst estimates of $7.86 billion. Medtronic PLC had a net margin of 13.56% and a return on equity of 12.72%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.27 EPS. On average, equities research analysts predict that Medtronic PLC will post $4.80 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.21%. This is a positive change from Medtronic PLC’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Wednesday, July 5th. Medtronic PLC’s dividend payout ratio is 63.67%.

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Several equities analysts have recently issued reports on the company. Morgan Stanley upped their target price on Medtronic PLC from $84.00 to $86.00 and gave the company an “equal weight” rating in a report on Tuesday, May 30th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $91.00 target price (up from $84.00) on shares of Medtronic PLC in a report on Sunday, May 28th. William Blair reiterated an “outperform” rating on shares of Medtronic PLC in a research note on Thursday, July 6th. Evercore ISI reiterated an “outperform” rating and issued a $91.00 price objective (up previously from $88.50) on shares of Medtronic PLC in a research note on Sunday, May 28th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $95.00 price objective (up previously from $91.00) on shares of Medtronic PLC in a research note on Thursday, May 25th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the stock. Medtronic PLC has a consensus rating of “Hold” and an average price target of $89.84.

In related news, Director Richard H. Anderson acquired 5,600 shares of the business’s stock in a transaction dated Wednesday, June 21st. The shares were acquired at an average cost of $88.90 per share, for a total transaction of $497,840.00. Following the acquisition, the director now directly owns 71,910 shares in the company, valued at approximately $6,392,799. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Bryan C. Hanson sold 12,000 shares of the stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $88.57, for a total transaction of $1,062,840.00. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

About Medtronic PLC

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 PLC (NYSE:MDT)

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