TD Waterhouse Canada Inc. Lowers Position in Medtronic plc (NYSE:MDT)

TD Waterhouse Canada Inc. trimmed its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 13.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 130,093 shares of the medical technology company's stock after selling 20,496 shares during the period. TD Waterhouse Canada Inc.'s holdings in Medtronic were worth $10,393,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of MDT. Mainstream Capital Management LLC purchased a new position in shares of Medtronic during the 4th quarter valued at approximately $26,000. Stephens Consulting LLC grew its position in Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after buying an additional 204 shares during the period. Rakuten Securities Inc. increased its holdings in Medtronic by 753.8% in the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock valued at $27,000 after buying an additional 294 shares in the last quarter. Fiduciary Advisors Inc. acquired a new position in shares of Medtronic in the fourth quarter worth about $36,000. Finally, Kieckhefer Group LLC purchased a new stake in shares of Medtronic during the 4th quarter worth about $40,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. UBS Group increased their target price on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Royal Bank of Canada reissued an "outperform" rating and issued a $105.00 price target on shares of Medtronic in a research note on Wednesday, February 19th. Robert W. Baird upped their price objective on shares of Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Finally, Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and lifted their target price for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $96.14.

Medtronic Trading Down 0.1 %

Medtronic stock traded down $0.11 during trading on Friday, reaching $84.19. 5,879,425 shares of the company were exchanged, compared to its average volume of 6,674,511. The stock's 50 day simple moving average is $88.18 and its two-hundred day simple moving average is $87.29. The company has a market capitalization of $107.98 billion, a P/E ratio of 25.59, a PEG ratio of 2.22 and a beta of 0.79. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. On average, equities research analysts expect that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.33%. Medtronic's dividend payout ratio (DPR) is 85.11%.

Medtronic Company Profile

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.