1 week Ago By ABMN Staff
Lake Street Advisors Group LLC increased its stake in Medtronic plc ( NYSE:MDT – Free Report ) by 4.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 5,906 shares of the medical technology company’s stock after buying an additional 236 shares during the quarter.
Lake Street Advisors Group LLC’s holdings in Medtronic were worth $469,000 at the end of the most recent quarter. Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Research Global Investors lifted its holdings in Medtronic by 7.
1% during the first quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock valued at $2,691,577,000 after purchasing an additional 2,044,109 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Medtronic by 3.
5% during the first quarter. Bank of New York Mellon Corp now owns 21,817,063 shares of the medical technology company’s stock valued at $1,901,357,000 after purchasing an additional 727,931 shares during the last quarter. Norges Bank purchased a new stake in Medtronic during the fourth quarter valued at about $1,229,726,000.
Sanders Capital LLC lifted its holdings in Medtronic by 2.8% during the fourth quarter. Sanders Capital LLC now owns 12,634,161 shares of the medical technology company’s stock valued at $1,040,802,000 after purchasing an additional 346,641 shares during the last quarter.
Finally, First Eagle Investment Management LLC lifted its holdings in Medtronic by 54.5% during the fourth quarter. First Eagle Investment Management LLC now owns 9,409,680 shares of the medical technology company’s stock valued at $775,169,000 after purchasing an additional 3,320,800 shares during the last quarter.
82.06% of the stock is owned by hedge funds and other institutional investors. Analyst Ratings Changes Several equities research analysts have recently weighed in on MDT shares.
The Goldman Sachs Group started coverage on Medtronic in a research report on Thursday, May 30th. They set a “sell” rating and a $83.00 price target on the stock.
Stifel Nicolaus upped their price target on Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research report on Wednesday, August 21st.
Citigroup decreased their price target on Medtronic from $90.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th.
Wells Fargo & Company upped their price target on Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st.
Finally, Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.
com, the company has an average rating of “Hold” and an average price target of $92.92. Medtronic Stock Up 0.
6 % MDT stock opened at $89.89 on Monday. The company has a current ratio of 2.
13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55.
The company’s 50 day moving average is $82.29 and its 200 day moving average is $82.58.
The stock has a market cap of $115.26 billion, a price-to-earnings ratio of 32.69, a price-to-earnings-growth ratio of 2.
52 and a beta of 0.84. Medtronic plc has a 1-year low of $68.
84 and a 1-year high of $91.49. Medtronic ( NYSE:MDT – Get Free Report ) last issued its earnings results on Tuesday, August 20th.
The medical technology company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.
03. The business had revenue of $7.97 billion during the quarter, compared to analyst estimates of $7.
90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.
06%. Medtronic’s revenue for the quarter was up 3.4% on a year-over-year basis.
During the same quarter in the prior year, the firm earned $1.20 earnings per share. Sell-side analysts predict that Medtronic plc will post 5.
46 EPS for the current fiscal year. Medtronic Dividend Announcement The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be paid a $0.
70 dividend. This represents a $2.80 annualized dividend and a yield of 3.
11%. The ex-dividend date is Friday, September 27th. Medtronic’s dividend payout ratio is currently 101.
82%. Medtronic Profile ( Free Report ) Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.
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