Calamos Advisors LLC Has $42.55 Million Position in Medtronic plc (NYSE:MDT)

Calamos Advisors LLC decreased its holdings in shares of Medtronic plc (NYSE:MDT) by 1.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 540,536 shares of the medical technology company’s stock after selling 8,845 shares during the quarter. Calamos Advisors LLC’s holdings in Medtronic were worth $42,546,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in MDT. Equity Investment Corp increased its stake in shares of Medtronic by 27.9% during the fourth quarter. Equity Investment Corp now owns 1,341,079 shares of the medical technology company’s stock worth $110,478,000 after purchasing an additional 292,459 shares during the period. Loudon Investment Management LLC increased its stake in Medtronic by 9.5% in the fourth quarter. Loudon Investment Management LLC now owns 10,026 shares of the medical technology company’s stock valued at $786,000 after acquiring an additional 874 shares during the last quarter. Chemung Canal Trust Co. raised its position in Medtronic by 1,467.5% during the first quarter. Chemung Canal Trust Co. now owns 47,902 shares of the medical technology company’s stock valued at $4,175,000 after purchasing an additional 44,846 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in Medtronic during the second quarter worth $25,643,000. Finally, Apollon Wealth Management LLC boosted its holdings in shares of Medtronic by 43.0% in the 4th quarter. Apollon Wealth Management LLC now owns 50,804 shares of the medical technology company’s stock valued at $4,185,000 after purchasing an additional 15,265 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Up 0.6 %

Shares of Medtronic stock traded up $0.52 during trading on Friday, reaching $88.35. 4,843,533 shares of the company traded hands, compared to its average volume of 6,307,863. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 1.55. The firm has a market capitalization of $113.29 billion, a PE ratio of 32.13, a P/E/G ratio of 2.35 and a beta of 0.82. The company has a 50 day moving average price of $80.48 and a 200-day moving average price of $82.28. Medtronic plc has a 1-year low of $68.84 and a 1-year high of $89.24.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.03. Medtronic had a return on equity of 13.47% and a net margin of 11.36%. The business had revenue of $7.97 billion for the quarter, compared to analyst estimates of $7.90 billion. During the same quarter in the prior year, the company earned $1.20 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, equities research analysts expect that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, September 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.17%. Medtronic’s payout ratio is 101.82%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MDT shares. Barclays boosted their price target on Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday. UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $76.00 to $90.00 in a report on Thursday, August 15th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $92.00 price target on shares of Medtronic in a research report on Wednesday. Robert W. Baird raised their price objective on Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Stifel Nicolaus upped their target price on Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $92.92.

Insider Activity

In other news, CEO Geoffrey Martha sold 19,113 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $83.77, for a total value of $1,601,096.01. Following the transaction, the chief executive officer now owns 143,348 shares in the company, valued at approximately $12,008,261.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.30% of the stock is currently owned by corporate insiders.

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.