Medtronic PLC (NYSE:MDT) Shares Sold by First Hawaiian Bank – Riverton Roll

First Hawaiian Bank trimmed its holdings in Medtronic PLC (NYSE:MDT) by 8.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,258 shares of the medical technology companys stock after selling 2,542 shares during the period. First Hawaiian Banks holdings in Medtronic were worth $2,979,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Nuveen Asset Management LLC raised its stake in Medtronic by 12,846.1% in the second quarter. Nuveen Asset Management LLC now owns 8,157,866 shares of the medical technology companys stock valued at $794,495,000 after buying an additional 8,094,852 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its position in Medtronic by 9.4% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,499,865 shares of the medical technology companys stock worth $1,412,142,000 after buying an additional 1,251,830 shares in the last quarter. Boston Partners boosted its holdings in shares of Medtronic by 14.9% in the 2nd quarter. Boston Partners now owns 9,655,784 shares of the medical technology companys stock valued at $940,555,000 after purchasing an additional 1,250,545 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in shares of Medtronic by 16.7% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 5,333,541 shares of the medical technology companys stock valued at $519,433,000 after purchasing an additional 762,169 shares in the last quarter. Finally, Eagle Asset Management Inc. boosted its holdings in shares of Medtronic by 155.9% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,190,323 shares of the medical technology companys stock valued at $129,292,000 after purchasing an additional 725,146 shares in the last quarter. 80.78% of the stock is owned by hedge funds and other institutional investors.

MDT has been the topic of a number of research analyst reports. Deutsche Bank began coverage on Medtronic in a report on Friday, January 3rd. They issued a buy rating and a $99.00 target price on the stock. Oppenheimer raised their price objective on Medtronic from $118.00 to $123.00 and gave the company an outperform rating in a report on Wednesday, November 20th. Morgan Stanley lifted their price objective on Medtronic from $116.00 to $123.00 and gave the stock an equal weight rating in a research report on Tuesday, December 17th. Piper Jaffray Companies lifted their price objective on Medtronic to $125.00 and gave the stock an overweight rating in a research report on Tuesday, November 19th. Finally, SunTrust Banks began coverage on shares of Medtronic in a report on Tuesday, January 7th. They set a buy rating and a $130.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $120.59.

NYSE:MDT opened at $119.99 on Wednesday. The stock has a market cap of $158.15 billion, a price-to-earnings ratio of 34.68, a PEG ratio of 2.87 and a beta of 0.60. Medtronic PLC has a 52 week low of $82.77 and a 52 week high of $122.15. The companys 50 day moving average price is $116.40 and its 200-day moving average price is $109.67. The company has a quick ratio of 2.28, a current ratio of 2.77 and a debt-to-equity ratio of 0.49.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.31 earnings per share (EPS) for the quarter, beating analysts consensus estimates of $1.28 by $0.03. Medtronic had a net margin of 15.11% and a return on equity of 14.52%. The company had revenue of $7.71 billion for the quarter, compared to the consensus estimate of $7.66 billion. During the same period in the previous year, the firm posted $1.22 EPS. Medtronics revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Medtronic PLC will post 5.6 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Friday, December 27th were paid a dividend of $0.54 per share. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.80%. Medtronics dividend payout ratio is presently 41.38%.

In related news, EVP Robert John White sold 52,166 shares of the businesss stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $110.62, for a total transaction of $5,770,602.92. Following the completion of the transaction, the executive vice president now owns 77,510 shares in the company, valued at approximately $8,574,156.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard H. Anderson purchased 5,000 shares of the businesss stock in a transaction on Friday, December 6th. The shares were bought at an average price of $111.13 per share, for a total transaction of $555,650.00. The disclosure for this purchase can be found here. 0.28% of the stock is currently owned by insiders.

Medtronic Profile

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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Medtronic PLC (NYSE:MDT) Shares Sold by First Hawaiian Bank - Riverton Roll