Andesa Financial Management Inc. increased its position in shares of Medtronic plc (NYSE:MDT) by 76.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,989 shares of the medical technology company’s stock after acquiring an additional 20,862 shares during the period. Medtronic makes up about 1.8% of Andesa Financial Management Inc.’s investment portfolio, making the stock its 16th largest position. Andesa Financial Management Inc.’s holdings in Medtronic were worth $5,669,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the stock. Lion Street Advisors LLC acquired a new position in Medtronic during the first quarter worth about $234,000. Successful Portfolios LLC purchased a new position in Medtronic in the 1st quarter worth about $256,000. Regent Investment Management LLC increased its stake in Medtronic by 45.2% in the 1st quarter. Regent Investment Management LLC now owns 3,697 shares of the medical technology company’s stock worth $437,000 after purchasing an additional 1,150 shares in the last quarter. Toth Financial Advisory Corp increased its stake in Medtronic by 3.2% in the 1st quarter. Toth Financial Advisory Corp now owns 65,728 shares of the medical technology company’s stock worth $7,764,000 after purchasing an additional 2,017 shares in the last quarter. Finally, Cabot Wealth Management Inc. purchased a new position in Medtronic in the 1st quarter worth about $262,000. 79.17% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on MDT shares. Credit Suisse Group lifted their price target on Medtronic from $126.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 3rd. Raymond James raised their price objective on Medtronic from $122.00 to $128.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 3rd. Atlantic Securities started coverage on Medtronic in a research report on Wednesday. They set an “overweight” rating and a $153.00 price objective for the company. Cowen raised their price objective on Medtronic from $120.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 24th. Finally, SVB Leerink lifted their price target on Medtronic from $123.00 to $129.00 and gave the company a “market perform” rating in a report on Tuesday, March 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $123.86.
Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, February 23rd. The medical technology company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.14. Medtronic had a return on equity of 9.71% and a net margin of 12.69%. The firm had revenue of $7.78 billion for the quarter, compared to analysts’ expectations of $7.77 billion. During the same period in the prior year, the business posted $1.44 earnings per share. The business’s revenue was up .8% compared to the same quarter last year. As a group, sell-side analysts expect that Medtronic plc will post 4.21 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, April 16th. Shareholders of record on Friday, March 26th were given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Thursday, March 25th. Medtronic’s dividend payout ratio (DPR) is 50.54%.
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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