Sei Investments Co. Has $88.11 Million Stake in Medtronic plc (NYSE:MDT)

Sei Investments Co. boosted its stake in Medtronic plc (NYSE:MDT) by 8.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,102,799 shares of the medical technology company’s stock after buying an additional 83,393 shares during the period. Sei Investments Co.’s holdings in Medtronic were worth $88,105,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Mainstream Capital Management LLC acquired a new position in Medtronic in the fourth quarter worth $26,000. J. Stern & Co. LLP acquired a new position in Medtronic in the third quarter worth $30,000. Rakuten Securities Inc. boosted its stake in Medtronic by 753.8% in the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 294 shares in the last quarter. Stephens Consulting LLC boosted its stake in Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 204 shares in the last quarter. Finally, Fiduciary Advisors Inc. acquired a new position in Medtronic in the fourth quarter worth $36,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Down 0.9 %

NYSE:MDT opened at $90.37 on Friday. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The stock has a market cap of $115.90 billion, a price-to-earnings ratio of 27.47, a PEG ratio of 2.22 and a beta of 0.80. The stock has a 50-day moving average price of $90.67 and a two-hundred day moving average price of $88.07.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The firm had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $8.33 billion. As a group, equities analysts expect that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.70 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.10%. Medtronic’s payout ratio is 85.11%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MDT shares. Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. Barclays boosted their target price on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. Royal Bank of Canada restated an “outperform” rating and set a $105.00 target price on shares of Medtronic in a research report on Wednesday, February 19th. Finally, UBS Group boosted their target price on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $96.07.

Insider Buying and Selling at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

About Medtronic

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.