Glass Jacobson Investment Advisors llc bought a new position in Medtronic plc (NYSE:MDT – Get Rating) in the 4th quarter, Holdings Channel.com reports. The fund bought 1,000 shares of the medical technology company’s stock, valued at approximately $78,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Brinker Capital Investments LLC increased its position in shares of Medtronic by 6.7% in the 4th quarter. Brinker Capital Investments LLC now owns 40,243 shares of the medical technology company’s stock worth $3,128,000 after purchasing an additional 2,535 shares during the last quarter. Westpac Banking Corp increased its position in shares of Medtronic by 0.4% in the 4th quarter. Westpac Banking Corp now owns 114,823 shares of the medical technology company’s stock worth $8,924,000 after purchasing an additional 463 shares during the last quarter. Bogart Wealth LLC increased its position in shares of Medtronic by 20.3% in the 4th quarter. Bogart Wealth LLC now owns 46,998 shares of the medical technology company’s stock worth $3,653,000 after purchasing an additional 7,945 shares during the last quarter. Ropes Wealth Advisors LLC increased its position in shares of Medtronic by 14.3% in the 4th quarter. Ropes Wealth Advisors LLC now owns 3,981 shares of the medical technology company’s stock worth $309,000 after purchasing an additional 497 shares during the last quarter. Finally, Glassman Wealth Services increased its position in shares of Medtronic by 9.5% in the 4th quarter. Glassman Wealth Services now owns 2,705 shares of the medical technology company’s stock worth $210,000 after purchasing an additional 235 shares during the last quarter. Institutional investors own 80.37% of the company’s stock.
Medtronic Trading Down 0.5 %
Shares of NYSE:MDT opened at $90.95 on Friday. The company has a 50 day moving average of $81.86 and a 200-day moving average of $81.47. The firm has a market cap of $121.00 billion, a P/E ratio of 29.92, a P/E/G ratio of 2.16 and a beta of 0.71. Medtronic plc has a twelve month low of $75.76 and a twelve month high of $106.63. The company has a current ratio of 1.76, a quick ratio of 1.39 and a debt-to-equity ratio of 0.43.
Medtronic (NYSE:MDT – Get Rating) last issued its quarterly earnings results on Tuesday, February 21st. The medical technology company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.03. The company had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.53 billion. Medtronic had a net margin of 13.20% and a return on equity of 13.37%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.37 EPS. As a group, analysts anticipate that Medtronic plc will post 5.28 earnings per share for the current fiscal year.
Medtronic Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, April 14th. Stockholders of record on Friday, March 24th were paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend was Thursday, March 23rd. Medtronic’s dividend payout ratio is currently 89.47%.
Analyst Upgrades and Downgrades
Several research firms have recently commented on MDT. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Medtronic from $80.00 to $87.00 in a report on Wednesday, February 22nd. Mizuho decreased their price target on shares of Medtronic from $100.00 to $95.00 and set a “buy” rating for the company in a report on Tuesday, January 24th. UBS Group lowered shares of Medtronic from a “buy” rating to a “sell” rating and decreased their price target for the company from $127.00 to $79.00 in a report on Wednesday, March 29th. StockNews.com began coverage on shares of Medtronic in a report on Thursday, March 16th. They issued a “buy” rating for the company. Finally, Wells Fargo & Company raised shares of Medtronic from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $77.00 to $100.00 in a report on Monday, April 24th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $91.79.
About Medtronic
Medtronic Plc is a medical technology company, which engages in the development, manufacture, distribution, and sale of device-based medical therapies and services. It operates through the following segments: Cardiovascular Porrtfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit.
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