Franklin Street Advisors Inc. NC boosted its holdings in Medtronic plc (NYSE:MDT - Free Report) by 32.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,517 shares of the medical technology company's stock after purchasing an additional 18,057 shares during the quarter. Franklin Street Advisors Inc. NC's holdings in Medtronic were worth $5,873,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of MDT. Copley Financial Group Inc. acquired a new position in Medtronic in the 3rd quarter valued at $694,000. Olstein Capital Management L.P. increased its stake in Medtronic by 19.2% in the 3rd quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company's stock valued at $7,833,000 after buying an additional 14,000 shares during the period. Y Intercept Hong Kong Ltd increased its stake in Medtronic by 322.6% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company's stock valued at $6,626,000 after buying an additional 56,178 shares during the period. Ferguson Wellman Capital Management Inc. acquired a new position in Medtronic in the 3rd quarter valued at $9,486,000. Finally, Soltis Investment Advisors LLC increased its stake in Medtronic by 30.0% in the 3rd quarter. Soltis Investment Advisors LLC now owns 88,110 shares of the medical technology company's stock valued at $7,933,000 after buying an additional 20,352 shares during the period. Hedge funds and other institutional investors own 82.06% of the company's stock.
Wall Street Analysts Forecast Growth
MDT has been the topic of several recent research reports. Barclays boosted their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a research note on Tuesday, November 26th. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research note on Monday, November 18th. Robert W. Baird lowered their price target on shares of Medtronic from $96.00 to $93.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 20th. Royal Bank of Canada raised shares of Medtronic from a "sector perform" rating to an "outperform" rating and upped their price target for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Medtronic from $99.00 to $96.00 and set a "neutral" rating on the stock in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Medtronic presently has an average rating of "Hold" and a consensus target price of $95.00.
View Our Latest Analysis on Medtronic
Medtronic Price Performance
NYSE MDT traded down $2.06 during trading hours on Friday, reaching $80.62. The company's stock had a trading volume of 7,067,217 shares, compared to its average volume of 7,406,823. The stock has a market cap of $103.38 billion, a PE ratio of 24.65, a PEG ratio of 2.33 and a beta of 0.83. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $92.68. The company's 50-day moving average is $84.17 and its two-hundred day moving average is $84.89. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84.
Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts' consensus estimates of $1.25 by $0.01. The firm had revenue of $8.40 billion for the quarter, compared to analysts' expectations of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm's revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.25 EPS. Analysts forecast that Medtronic plc will post 5.45 EPS for the current year.
Medtronic Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.47%. Medtronic's dividend payout ratio (DPR) is 85.63%.
About Medtronic
(
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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