Family Legacy Inc. purchased a new position in shares of Medtronic PLC (NYSE:MDT) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,219 shares of the medical technology company’s stock, valued at approximately $216,000.
Several other institutional investors also recently added to or reduced their stakes in MDT. Comerica Securities Inc. lifted its position in shares of Medtronic by 3.8% during the fourth quarter. Comerica Securities Inc. now owns 13,521 shares of the medical technology company’s stock valued at $1,237,000 after buying an additional 491 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Medtronic by 10.2% in the 4th quarter. Geode Capital Management LLC now owns 16,690,207 shares of the medical technology company’s stock valued at $1,515,557,000 after purchasing an additional 1,538,130 shares during the last quarter. Smithbridge Asset Management Inc. DE raised its position in shares of Medtronic by 2.7% in the 1st quarter. Smithbridge Asset Management Inc. DE now owns 32,004 shares of the medical technology company’s stock valued at $2,915,000 after purchasing an additional 850 shares during the last quarter. CX Institutional raised its position in shares of Medtronic by 281.8% in the 1st quarter. CX Institutional now owns 798 shares of the medical technology company’s stock valued at $73,000 after purchasing an additional 589 shares during the last quarter. Finally, Fulton Bank N.A. raised its position in shares of Medtronic by 4.5% in the 1st quarter. Fulton Bank N.A. now owns 25,814 shares of the medical technology company’s stock valued at $2,351,000 after purchasing an additional 1,115 shares during the last quarter. Institutional investors and hedge funds own 80.08% of the company’s stock.
Several equities analysts recently commented on the stock. Royal Bank of Canada decreased their price objective on shares of Medtronic to $100.00 and set an “outperform” rating for the company in a research report on Tuesday, May 28th. Zacks Investment Research raised shares of Medtronic from a “sell” rating to a “hold” rating in a research report on Monday, May 20th. Northland Securities reaffirmed a “hold” rating and issued a $100.00 price objective on shares of Medtronic in a research report on Thursday, June 20th. Wells Fargo & Co raised shares of Medtronic from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $100.00 to $110.00 in a research report on Tuesday, June 4th. Finally, Oppenheimer set a $110.00 price objective on shares of Medtronic and gave the company a “buy” rating in a research report on Monday, July 15th. Seven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $106.05.
MDT opened at $102.33 on Monday. Medtronic PLC has a 12-month low of $81.66 and a 12-month high of $103.95. The company has a quick ratio of 2.15, a current ratio of 2.59 and a debt-to-equity ratio of 0.49. The stock has a market cap of $137.24 billion, a price-to-earnings ratio of 19.60, a PEG ratio of 2.62 and a beta of 0.67. The stock’s 50 day simple moving average is $99.63.
Medtronic (NYSE:MDT) last posted its quarterly earnings results on Thursday, May 23rd. The medical technology company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.07. Medtronic had a net margin of 15.15% and a return on equity of 14.16%. The company had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.12 billion. During the same period last year, the firm posted $1.42 EPS. Medtronic’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, equities research analysts anticipate that Medtronic PLC will post 5.47 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 8th were given a dividend of $0.54 per share. The ex-dividend date was Friday, July 5th. This is a positive change from Medtronic’s previous quarterly dividend of $0.50. This represents a $2.16 dividend on an annualized basis and a yield of 2.11%. Medtronic’s dividend payout ratio (DPR) is currently 41.38%.
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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