Connor Clark & Lunn Investment Management Ltd. Sells 16,700 Shares of Medtronic PLC (MDT), Report finds

Connor Clark & Lunn Investment Management Ltd. Sells 16,700 Shares of Medtronic PLC (MDT), Report finds

Connor Clark & Lunn Investment Management Ltd. decreased its position in shares of Medtronic PLC (NYSE:MDT) by 19.9% during the third quarter, Holdings Channel reports. The institutional investor owned 67,063 shares of the medical technology company’s stock after selling 16,700 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Medtronic PLC were worth $5,794,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Beach Investment Counsel Inc. PA boosted its stake in shares of Medtronic PLC by 2.0% in the second quarter. Beach Investment Counsel Inc. PA now owns 282,436 shares of the medical technology company’s stock worth $24,507,000 after buying an additional 5,510 shares during the period. KBC Group NV boosted its stake in shares of Medtronic PLC by 44.3% in the third quarter. KBC Group NV now owns 589,707 shares of the medical technology company’s stock worth $50,951,000 after buying an additional 180,926 shares during the period. Huntington National Bank boosted its stake in shares of Medtronic PLC by 10.9% in the second quarter. Huntington National Bank now owns 227,847 shares of the medical technology company’s stock worth $19,769,000 after buying an additional 22,309 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Medtronic PLC by 5.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 123,450 shares of the medical technology company’s stock worth $10,713,000 after buying an additional 5,980 shares during the period. Finally, Martin Investment Management LLC boosted its stake in shares of Medtronic PLC by 4.6% in the third quarter. Martin Investment Management LLC now owns 123,341 shares of the medical technology company’s stock worth $10,657,000 after buying an additional 5,370 shares during the period. 83.16% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic PLC (NYSE:MDT) traded down 0.68% during mid-day trading on Wednesday, hitting $75.60. The company’s stock had a trading volume of 3,668,198 shares. The firm’s 50-day moving average is $73.97 and its 200-day moving average is $80.76. Medtronic PLC has a 12-month low of $69.35 and a 12-month high of $89.27. The company has a market cap of $103.80 billion, a P/E ratio of 25.17 and a beta of 0.97.

Medtronic PLC (NYSE:MDT) last released its earnings results on Tuesday, November 22nd. The medical technology company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. The firm had revenue of $7.35 billion for the quarter, compared to analysts’ expectations of $7.46 billion. Medtronic PLC had a return on equity of 12.36% and a net margin of 14.63%. The company’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 earnings per share. Analysts predict that Medtronic PLC will post $4.57 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Friday, December 23rd were paid a dividend of $0.43 per share. The ex-dividend date was Wednesday, December 21st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.28%. Medtronic PLC’s dividend payout ratio is 57.14%.

Several analysts have weighed in on MDT shares. Zacks Investment Research cut Medtronic PLC from a “hold” rating to a “sell” rating in a report on Tuesday, November 29th. Vetr cut Medtronic PLC from a “strong-buy” rating to a “buy” rating and set a $91.28 price target on the stock. in a report on Monday, November 21st. Evercore ISI reaffirmed a “buy” rating and issued a $80.00 price target (down previously from $94.00) on shares of Medtronic PLC in a report on Monday, November 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $84.00 price target (down previously from $95.00) on shares of Medtronic PLC in a report on Tuesday, November 22nd. Finally, Stifel Nicolaus lowered their price target on Medtronic PLC from $91.00 to $81.00 and set a “hold” rating on the stock in a report on Wednesday, November 23rd. Nine analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Medtronic PLC currently has a consensus rating of “Buy” and an average target price of $86.70.

In other news, Director James T. Lenehan acquired 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were bought at an average price of $73.27 per share, with a total value of $146,540.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert C. Pozen acquired 13,660 shares of the company’s stock in a transaction that occurred on Tuesday, December 13th. The stock was purchased at an average cost of $73.21 per share, for a total transaction of $1,000,048.60. The disclosure for this purchase can be found here. Corporate insiders own 0.25% of the company’s stock.

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.

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).

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Connor Clark & Lunn Investment Management Ltd. Sells 16,700 Shares of Medtronic PLC (MDT)

Connor Clark & Lunn Investment Management Ltd. Sells 16,700 Shares of Medtronic PLC (MDT)

Connor Clark & Lunn Investment Management Ltd. decreased its position in shares of Medtronic PLC (NYSE:MDT) by 19.9% during the third quarter, Holdings Channel reports. The institutional investor owned 67,063 shares of the medical technology company’s stock after selling 16,700 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Medtronic PLC were worth $5,794,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Beach Investment Counsel Inc. PA boosted its stake in shares of Medtronic PLC by 2.0% in the second quarter. Beach Investment Counsel Inc. PA now owns 282,436 shares of the medical technology company’s stock worth $24,507,000 after buying an additional 5,510 shares during the period. KBC Group NV boosted its stake in shares of Medtronic PLC by 44.3% in the third quarter. KBC Group NV now owns 589,707 shares of the medical technology company’s stock worth $50,951,000 after buying an additional 180,926 shares during the period. Huntington National Bank boosted its stake in shares of Medtronic PLC by 10.9% in the second quarter. Huntington National Bank now owns 227,847 shares of the medical technology company’s stock worth $19,769,000 after buying an additional 22,309 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Medtronic PLC by 5.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 123,450 shares of the medical technology company’s stock worth $10,713,000 after buying an additional 5,980 shares during the period. Finally, Martin Investment Management LLC boosted its stake in shares of Medtronic PLC by 4.6% in the third quarter. Martin Investment Management LLC now owns 123,341 shares of the medical technology company’s stock worth $10,657,000 after buying an additional 5,370 shares during the period. 83.16% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic PLC (NYSE:MDT) traded down 0.68% during mid-day trading on Wednesday, hitting $75.60. The company’s stock had a trading volume of 3,668,198 shares. The firm’s 50-day moving average is $73.97 and its 200-day moving average is $80.76. Medtronic PLC has a 12-month low of $69.35 and a 12-month high of $89.27. The company has a market cap of $103.80 billion, a P/E ratio of 25.17 and a beta of 0.97.

Medtronic PLC (NYSE:MDT) last released its earnings results on Tuesday, November 22nd. The medical technology company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. The firm had revenue of $7.35 billion for the quarter, compared to analysts’ expectations of $7.46 billion. Medtronic PLC had a return on equity of 12.36% and a net margin of 14.63%. The company’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 earnings per share. Analysts predict that Medtronic PLC will post $4.57 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Friday, December 23rd were paid a dividend of $0.43 per share. The ex-dividend date was Wednesday, December 21st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.28%. Medtronic PLC’s dividend payout ratio is 57.14%.

Several analysts have weighed in on MDT shares. Zacks Investment Research cut Medtronic PLC from a “hold” rating to a “sell” rating in a report on Tuesday, November 29th. Vetr cut Medtronic PLC from a “strong-buy” rating to a “buy” rating and set a $91.28 price target on the stock. in a report on Monday, November 21st. Evercore ISI reaffirmed a “buy” rating and issued a $80.00 price target (down previously from $94.00) on shares of Medtronic PLC in a report on Monday, November 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $84.00 price target (down previously from $95.00) on shares of Medtronic PLC in a report on Tuesday, November 22nd. Finally, Stifel Nicolaus lowered their price target on Medtronic PLC from $91.00 to $81.00 and set a “hold” rating on the stock in a report on Wednesday, November 23rd. Nine analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Medtronic PLC currently has a consensus rating of “Buy” and an average target price of $86.70.

In other news, Director James T. Lenehan acquired 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were bought at an average price of $73.27 per share, with a total value of $146,540.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert C. Pozen acquired 13,660 shares of the company’s stock in a transaction that occurred on Tuesday, December 13th. The stock was purchased at an average cost of $73.21 per share, for a total transaction of $1,000,048.60. The disclosure for this purchase can be found here. Corporate insiders own 0.25% of the company’s stock.

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.

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).

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