Zions Bancorporation National Association UT Has $1.08 Million Stock Position in Medtronic PLC $MDT

Zions Bancorporation National Association UT raised its stake in Medtronic PLC (NYSE:MDT) by 691.7% during the third quarter, HoldingsChannel.com reports. The fund owned 11,305 shares of the medical technology company’s stock after acquiring an additional 9,877 shares during the quarter. Zions Bancorporation National Association UT’s holdings in Medtronic were worth $1,077,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in Medtronic by 1,368.0% in the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after buying an additional 37,265 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in Medtronic by 9.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock valued at $380,000 after purchasing an additional 381 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Medtronic in the second quarter worth $10,286,000. Chicago Partners Investment Group LLC boosted its stake in Medtronic by 17.6% in the second quarter. Chicago Partners Investment Group LLC now owns 8,194 shares of the medical technology company’s stock worth $754,000 after purchasing an additional 1,224 shares in the last quarter. Finally, Lyell Wealth Management LP bought a new stake in shares of Medtronic during the second quarter worth $893,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on MDT. CICC Research started coverage on shares of Medtronic in a report on Friday, January 30th. They set an “outperform” rating on the stock. Wall Street Zen upgraded shares of Medtronic from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. The Goldman Sachs Group set a $111.00 price objective on Medtronic and gave the stock a “neutral” rating in a report on Wednesday, November 19th. Robert W. Baird set a $103.00 target price on Medtronic in a research report on Tuesday, December 16th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Medtronic in a research note on Friday, November 14th. Sixteen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, Medtronic currently has an average rating of “Moderate Buy” and a consensus price target of $111.21.

Medtronic Stock Performance

Shares of Medtronic stock opened at $99.57 on Tuesday. Medtronic PLC has a one year low of $79.55 and a one year high of $106.33. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.42 and a quick ratio of 1.80. The stock’s 50-day moving average is $99.25 and its 200-day moving average is $96.53. The firm has a market cap of $127.65 billion, a price-to-earnings ratio of 26.84, a price-to-earnings-growth ratio of 2.62 and a beta of 0.71.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.03. The business had revenue of $9.02 billion for the quarter, compared to the consensus estimate of $8.89 billion. Medtronic had a return on equity of 14.86% and a net margin of 13.71%. Equities analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, December 26th were paid a $0.71 dividend. The ex-dividend date was Friday, December 26th. This represents a $2.84 annualized dividend and a yield of 2.9%. Medtronic’s payout ratio is 76.55%.

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter?defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).