Van Lanschot Kempen Investment Management N.V. grew its holdings in Medtronic plc (NYSE:MDT - Free Report) by 14.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,874,734 shares of the medical technology company's stock after purchasing an additional 234,629 shares during the quarter. Medtronic comprises about 1.5% of Van Lanschot Kempen Investment Management N.V.'s portfolio, making the stock its 17th biggest position. Van Lanschot Kempen Investment Management N.V. owned approximately 0.15% of Medtronic worth $149,754,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Morse Asset Management Inc acquired a new position in shares of Medtronic during the third quarter valued at about $225,000. Te Ahumairangi Investment Management Ltd increased its position in Medtronic by 4.1% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 52,321 shares of the medical technology company's stock valued at $4,684,000 after buying an additional 2,050 shares in the last quarter. Chelsea Counsel Co. acquired a new position in Medtronic during the 3rd quarter worth approximately $45,000. Tudor Financial Inc. acquired a new position in Medtronic during the third quarter worth $586,000. Finally, Anchor Investment Management LLC grew its holdings in shares of Medtronic by 1.2% during the third quarter. Anchor Investment Management LLC now owns 107,518 shares of the medical technology company's stock valued at $9,680,000 after buying an additional 1,271 shares during the last quarter. Institutional investors own 82.06% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on MDT shares. Robert W. Baird lifted their price target on Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and upped their price target for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $105.00 price objective on shares of Medtronic in a report on Wednesday, February 19th. Finally, UBS Group raised their price target on Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Medtronic presently has an average rating of "Hold" and a consensus price target of $96.14.
Read Our Latest Stock Analysis on MDT
Medtronic Price Performance
Shares of NYSE MDT traded down $0.11 during mid-day trading on Friday, reaching $84.19. 5,879,411 shares of the company were exchanged, compared to its average volume of 7,710,707. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25. The company's 50 day moving average price is $88.18 and its 200 day moving average price is $87.29. The stock has a market capitalization of $107.98 billion, a PE ratio of 25.59, a PEG ratio of 2.22 and a beta of 0.79. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48.
Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.03. The firm had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. Sell-side analysts forecast that Medtronic plc will post 5.46 earnings per share for the current fiscal year.
Medtronic Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.33%. The ex-dividend date was Friday, March 28th. Medtronic's dividend payout ratio (DPR) is presently 85.11%.
Medtronic Company Profile
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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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