As Medtronic Plc (MDT) Valuation Declined, Franklin Resources INC Has Decreased Its Stake by $45.02 Million

May 17, 2018 - By Marie Mckinney

Medtronic plc (NYSE:MDT) LogoInvestors sentiment decreased to 1.02 in 2017 Q4. Its down 0.10, from 1.12 in 2017Q3. It is negative, as 65 investors sold MDT shares while 427 reduced holdings. 111 funds opened positions while 393 raised stakes. 1.04 billion shares or 2.98% less from 1.07 billion shares in 2017Q3 were reported. Colony Grp Lc reported 0.78% in Medtronic plc (NYSE:MDT). New York-based Knott David M has invested 0.03% in Medtronic plc (NYSE:MDT). Orrstown Financial Services Inc holds 1.02% in Medtronic plc (NYSE:MDT) or 10,963 shares. Paradigm Asset Mgmt Lc holds 0.03% or 1,200 shares. Thematic Lc stated it has 676,226 shares or 1.8% of all its holdings. Naples Glob Advisors Ltd Liability Corporation reported 24,663 shares. Field And Main Comml Bank has invested 0.23% in Medtronic plc (NYSE:MDT). Redmond Asset Mgmt Ltd Llc holds 0.85% or 24,567 shares in its portfolio. 117,000 are owned by Olstein Capital Ltd Partnership. Janney Montgomery Scott Limited Company reported 0.18% stake. Da Davidson And holds 93,062 shares or 0.16% of its portfolio. Moreover, Gofen And Glossberg Ltd Liability Company Il has 0.02% invested in Medtronic plc (NYSE:MDT). Boston Prtn accumulated 2.81 million shares or 0.27% of the stock. Mengis Cap Mgmt Incorporated accumulated 3,146 shares. Advisor Prtn Ltd owns 16,330 shares.

Franklin Resources Inc decreased its stake in Medtronic Plc (MDT) by 1.46% based on its latest 2017Q4 regulatory filing with the SEC. Franklin Resources Inc sold 562,793 shares as the company’s stock declined 4.15% with the market. The institutional investor held 37.97M shares of the electromedical & electrotherapeutic apparatus company at the end of 2017Q4, valued at $3.07B, down from 38.53 million at the end of the previous reported quarter. Franklin Resources Inc who had been investing in Medtronic Plc for a number of months, seems to be less bullish one the $115.25 billion market cap company. The stock decreased 0.61% or $0.52 during the last trading session, reaching $85.03. About 340,728 shares traded. Medtronic plc (NYSE:MDT) has declined 3.54% since May 17, 2017 and is downtrending. It has underperformed by 15.09% the S&P500.

Franklin Resources Inc, which manages about $208.39B US Long portfolio, upped its stake in Ubs Group Ag (NYSE:UBS) by 2.52 million shares to 65.06M shares, valued at $1.20B in 2017Q4, according to the filing. It also increased its holding in Micron Technology Inc (NASDAQ:MU) by 80,960 shares in the quarter, for a total of 102,708 shares, and has risen its stake in Weyerhaeuser Co (NYSE:WY).

Analysts await Medtronic plc (NYSE:MDT) to report earnings on May, 24 before the open. They expect $1.38 earnings per share, up 3.76 % or $0.05 from last year’s $1.33 per share. MDT’s profit will be $1.87B for 15.40 P/E if the $1.38 EPS becomes a reality. After $1.17 actual earnings per share reported by Medtronic plc for the previous quarter, Wall Street now forecasts 17.95 % EPS growth.

More notable recent Medtronic plc (NYSE:MDT) news were published by: Globenewswire.com which released: “Mike Weinstein to Join Medtronic as Senior Vice President of Strategy” on May 07, 2018, also Investingnews.com with their article: “Medtronic Begins US Study of Drug-Eluting Stents to Evaluate Treatment of Bifurcation Lesions in Patients with …” published on May 16, 2018, Globenewswire.com published: “Medtronic Announces New Paid Family Care Leave Benefits” on May 01, 2018. More interesting news about Medtronic plc (NYSE:MDT) were released by: Streetinsider.com and their article: “Medtronic (MDT) Launches US Study of Drug-Eluting Stents to Evaluate Treatment of Bifurcation Lesions in Patients …” published on May 16, 2018 as well as Seekingalpha.com‘s news article titled: “Medtronic Should Focus On Aggressive Deleveraging” with publication date: May 15, 2018.

Medtronic plc (NYSE:MDT) Ratings Coverage

Among 10 analysts covering Medtronic (NYSE:MDT), 8 have Buy rating, 0 Sell and 2 Hold. Therefore 80% are positive. Medtronic had 12 analyst reports since November 21, 2017 according to SRatingsIntel. As per Tuesday, November 21, the company rating was maintained by Needham. The stock of Medtronic plc (NYSE:MDT) earned “Buy” rating by BMO Capital Markets on Tuesday, December 12. The stock of Medtronic plc (NYSE:MDT) earned “Equal-Weight” rating by Morgan Stanley on Monday, February 5. On Tuesday, November 21 the stock rating was maintained by Jefferies with “Buy”. The company was maintained on Thursday, February 22 by Citigroup. The firm earned “Hold” rating on Wednesday, November 22 by Stifel Nicolaus. The firm has “Buy” rating by Needham given on Wednesday, February 21. The stock of Medtronic plc (NYSE:MDT) has “Buy” rating given on Friday, April 27 by Piper Jaffray. The firm earned “Buy” rating on Tuesday, December 12 by Argus Research. The company was upgraded on Tuesday, January 2 by Bank of America.

Medtronic plc (NYSE:MDT) Ratings Chart

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