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Tag: MDT

  • Artisan Partners Limited Partnership Sells 24,514 Shares of Medtronic PLC $MDT

    Artisan Partners Limited Partnership lowered its holdings in shares of Medtronic PLC (NYSE:MDT – Free Report) by 2.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,203,236 shares of the medical technology company’s stock after selling 24,514 shares during the quarter. Artisan Partners Limited Partnership’s holdings in Medtronic were worth $104,886,000 at the end of the most recent quarter.

    Several other institutional investors and hedge funds have also modified their holdings of the business. 1248 Management LLC acquired a new stake in Medtronic during the 1st quarter worth approximately $26,000. Twin Tree Management LP acquired a new position in shares of Medtronic in the first quarter valued at approximately $29,000. Activest Wealth Management increased its position in shares of Medtronic by 3,577.8% during the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock worth $30,000 after acquiring an additional 322 shares in the last quarter. Investment Management Corp VA ADV raised its holdings in shares of Medtronic by 144.2% during the first quarter. Investment Management Corp VA ADV now owns 403 shares of the medical technology company’s stock worth $36,000 after acquiring an additional 238 shares during the period. Finally, GFG Capital LLC bought a new stake in Medtronic in the 2nd quarter valued at $36,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

    Insider Transactions at Medtronic

    In related news, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total value of $788,045.90. Following the completion of the transaction, the executive vice president owned 35,615 shares of the company’s stock, valued at $3,261,621.70. This represents a 19.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William R. Jellison bought 2,500 shares of the business’s stock in a transaction on Monday, August 25th. The stock was bought at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the transaction, the director directly owned 5,000 shares of the company’s stock, valued at approximately $461,850. This represents a 100.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.26% of the stock is currently owned by corporate insiders.

    Analysts Set New Price Targets

    MDT has been the topic of several recent research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Medtronic in a research note on Wednesday, October 8th. Jefferies Financial Group reissued a “hold” rating and issued a $110.00 target price on shares of Medtronic in a research report on Wednesday. Citigroup boosted their target price on Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Daiwa Capital Markets raised their price target on shares of Medtronic from $101.00 to $104.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Finally, Robert W. Baird lifted their price objective on shares of Medtronic from $103.00 to $109.00 and gave the company a “neutral” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, Medtronic has an average rating of “Moderate Buy” and an average price target of $108.50.

    View Our Latest Report on Medtronic

    Medtronic Stock Down 0.7%

    NYSE MDT opened at $100.12 on Thursday. The business has a fifty day moving average price of $94.80 and a two-hundred day moving average price of $90.70. The stock has a market capitalization of $128.42 billion, a PE ratio of 27.58, a PEG ratio of 2.42 and a beta of 0.77. Medtronic PLC has a fifty-two week low of $79.29 and a fifty-two week high of $102.59. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50.

    Medtronic (NYSE:MDT – Get Free Report) last posted its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.05. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company had revenue of $8.96 billion during the quarter, compared to analysts’ expectations of $8.86 billion. During the same quarter in the previous year, the firm earned $1.26 EPS. Medtronic’s revenue was up 6.6% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

    Medtronic Company 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.

    See Also

    Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic PLC (NYSE:MDT – Free Report).

    Institutional Ownership by Quarter for Medtronic (NYSE:MDT)



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  • Medtronic (NYSE:MDT) Issues FY 2025 Earnings Guidance

    Medtronic (NYSE:MDT) Issues FY 2025 Earnings Guidance

    Medtronic (NYSE:MDT – Get Free Report) updated its FY 2025 earnings guidance on Friday. The company provided earnings per share guidance of 5.400-5.500 for the period, compared to the consensus earnings per share estimate of 5.450. The company issued revenue guidance of $33.1 billion-$33.6 billion, compared to the consensus revenue estimate of $33.6 billion.

    Analysts Set New Price Targets

    MDT has been the subject of a number of recent research reports. Needham & Company LLC reissued a hold rating on shares of Medtronic in a research report on Friday. Royal Bank of Canada reissued a sector perform rating and issued a $92.00 price target on shares of Medtronic in a research report on Friday. Mizuho raised their price objective on Medtronic from $95.00 to $98.00 and gave the company a buy rating in a research report on Wednesday, February 21st. UBS Group boosted their target price on Medtronic from $75.00 to $76.00 and gave the stock a sell rating in a report on Friday. Finally, Truist Financial reduced their price target on Medtronic from $90.00 to $88.00 and set a hold rating for the company in a report on Friday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Medtronic currently has an average rating of Hold and a consensus price target of $94.45.

    View Our Latest Report on Medtronic

    Medtronic Trading Up 1.1 %

    Shares of MDT stock opened at $82.29 on Friday. The stock has a market capitalization of $109.27 billion, a P/E ratio of 29.92, a P/E/G ratio of 2.68 and a beta of 0.78. The company has a current ratio of 2.03, a quick ratio of 1.71 and a debt-to-equity ratio of 0.47. The firm’s 50 day moving average is $82.81 and its 200 day moving average is $82.75. Medtronic has a 12-month low of $68.84 and a 12-month high of $91.00.

    Medtronic (NYSE:MDT – Get Free Report) last released its quarterly earnings results on Thursday, May 23rd. The medical technology company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.01. The firm had revenue of $8.59 billion for the quarter, compared to the consensus estimate of $8.44 billion. Medtronic had a return on equity of 13.47% and a net margin of 11.36%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the business posted $1.57 EPS. Research analysts expect that Medtronic will post 5.45 earnings per share for the current year.

    Medtronic Increases Dividend

    The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Friday, June 28th. This is a boost from Medtronic’s previous quarterly dividend of $0.69. Medtronic’s dividend payout ratio is 100.36%.

    Insider Activity at Medtronic

    In other Medtronic news, EVP Michael Marinaro sold 854 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the transaction, the executive vice president now directly owns 27,925 shares in the company, valued at $2,321,684.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.30% of the stock is currently owned by company insiders.

    Medtronic Company Profile

    (Get 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.

    See Also

    Earnings History and Estimates for Medtronic (NYSE:MDT)

    Receive News & Ratings for Medtronic Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Medtronic and related companies with MarketBeat.com’s FREE daily email newsletter.

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  • Dividend stocks are dirt cheap. It may be time to back up the truck.

    Dividend stocks are dirt cheap. It may be time to back up the truck.

    The stock market always overreacts, and this year it seems as if investors believe dividend stocks have become toxic. But a look at yields on quality dividend stocks relative to the market underlines what may be an excellent opportunity for long-term investors to pursue growth with an income stream that builds up over the years.

    The current environment, in which you can get a yield of more than 5% yield on your cash at a bank or lock in a yield of 4.57% on a10-year U.S. Treasury note
    BX:TMUBMUSD10Y
    or close to 5% on a 20-year Treasury bond
    BX:TMUBMUSD20Y
    seems to have made some investors forget two things: A stock’s dividend payout can rise over the long term, and so can it is price.

    It is never fun to see your portfolio underperform during a broad market swing. And people have a tendency to prefer jumping on a trend hoping to keep riding it, rather than taking advantage of opportunities brought about by price declines. We may be at such a moment for quality dividend stocks, based on their yields relative to that of the benchmark S&P 500
    SPX.

    Drew Justman of Madison Funds explained during an interview with MarketWatch how he and John Brown, who co-manage the Madison Dividend Income Fund, BHBFX MDMIX and the new Madison Dividend Value ETF
    DIVL,
    use relative dividend yields as part of their screening process for stocks. He said he has never seen such yields, when compared with that of the broad market, during 20 years of work as a securities analyst and portfolio manager.

    Dividend stocks are down

    Before diving in, we can illustrate the market’s current loathing of dividend stocks by comparing the performance of the Schwab U.S. Equity ETF
    SCHD,
    which tracks the Dow Jones U.S. Dividend 100 Index, with that of the SPDR S&P 500 ETF Trust
    SPY.
    Let’s look at a total return chart (with dividends reinvested) starting at the end of 2021, since the Federal Reserve started its cycle of interest rate increases in March 2022:


    FactSet

    The Dow Jones U.S. Dividend 100 Index is made up of “high-dividend-yielding stocks in the U.S. with a record of consistently paying dividends, selected for fundamental strength relative to their peers, based on financial ratios,” according to S&P Dow Jones Indices.

    The end results for the two ETFs from the end of 2021 through Tuesday are similar. But you can see how the performance pattern has been different, with the dividend stocks holding up well during the stock market’s reaction to the Fed’s move last year, but trailing the market’s recovery as yields on CDs and bonds have become so much more attractive this year. Let’s break down the performance since the end of 2021, this time bringing in the Madison Dividend Income Fund’s Class Y and Class I shares:

    Fund

    		 2023 return

    		 2022 return

    		 Return since the end of 2021
    SPDR S&P 500 ETF Trust

    		 14.9%

    		 -18.2%

    		 -6.0%
    Schwab U.S. Dividend Equity ETF

    		 -3.8%

    		 -3.2%

    		 -6.9%
    Madison Dividend Income Fund – Class Y

    		 -4.7%

    		 -5.4%

    		 -9.9%
    Madison Dividend Income Fund – Class I

    		 -4.7%

    		 -5.3%

    		 -9.7%
    Source: FactSet

    Dividend stocks held up well during 2022, as the S&P 500 fell more than 18%. But they have been left behind during this year’s rally.

    The Madison Dividend Income Fund was established in 1986. The Class Y shares have annual expenses of 0.91% of assets under management and are rated three stars (out of five) within Morningstar’s “Large Value” fund category. The Class I shares have only been available since 2020. They have a lower expense ratio of 0.81% and are distributed through investment advisers or through platforms such as Schwab, which charges a $50 fee to buy Class I shares.

    The opportunity — high relative yields

    The Madison Dividend Income Fund holds 40 stocks. Justman explained that when he and Brown select stocks for the fund their investible universe begins with the components of the Russell 1000 Index
    RUT,
    which is made up of the largest 1,000 companies by market capitalization listed on U.S. exchanges. Their first cut narrows the list to about 225 stocks with dividend yields of at least 1.1 times that of the index.

    The Madison team calculates a stock’s relative dividend yield by dividing its yield by that of the S&P 500. Let’s do that for the Schwab U.S. Equity ETF
    SCHD
    (because it tracks the Dow Jones U.S. Dividend 100 Index) to illustrate the opportunity that Justman highlighted:

    Index or ETF

    		 Dividend yield

    		 5-year Avg. yield 

    		 10-year Avg. yield 

    		 15-year Avg. yield 

    		 Relative yield

    		 5-year Avg. relative yield 

    		 10-year Avg. relative yield 

    		 15-year Avg. relative yield 
    Schwab U.S. Dividend Equity ETF

    		 3.99%

    		 3.41%

    		 3.20%

    		 3.16%

    		 2.6

    		 2.1

    		 1.8

    		 1.6
    S&P 500

    		 1.55%

    		 1.62%

    		 1.79%

    		 1.92%
    Source: FactSet

    The Schwab U.S. Equity ETF’s relative yield is 2.6 — that is, its dividend yield is 2.6 times that of the S&P 500, which is much higher than the long-term averages going back 15 years. If we went back 20 years, the average relative yield would be 1.7.

    Examples of high-quality stocks with high relative dividend yields

    After narrowing down the Russell 1000 to about 225 stocks with relative dividend yields of at least 1.1, Justman and Brown cut further to about 80 companies with a long history of raising dividends and with strong balance sheets, before moving further through a deeper analysis to arrive at a portfolio of about 40 stocks.

    When asked about oil companies and others that pay fixed quarterly dividends plus variable dividends, he said, “We try to reach out to the company and get an estimate of special dividends and try to factor that in.” Two examples of companies held by the fund that pay variable dividends are ConocoPhillips
    COP,
    -0.29%
    and EOG Resources Inc.
    EOG,
    +0.52%    .

    Since the balance-sheet requirement is subjective “almost all fund holdings are investment-grade rated,” Justman said. That refers to credit ratings by Standard & Poor’s, Moody’s Investors Service or Fitch Ratings. He went further, saying about 80% of the fund’s holdings were rated “A-minus or better.” BBB- is the lowest investment-grade rating from S&P. Fidelity breaks down the credit agencies’ ratings hierarchy.

    Justman named nine stocks held by the fund as good examples of quality companies with high relative yields to the S&P 500:

    Company

    		 Ticker

    		 Dividend yield

    		 Relative yield

    		 2023 return

    		 2022 return

    		 Return since the end of 2021
    CME Group Inc. Class A

    		 CME,
    +0.47%         		2.04%

    		 1.3

    		 31%

    		 -23%

    		 1%
    Home Depot, Inc.

    		 HD,
    -0.39%         		2.79%

    		 1.8

    		 -3%

    		 -22%

    		 -25%
    Lowe’s Cos., Inc.

    		 LOW,
    +0.27%         		2.17%

    		 1.4

    		 3%

    		 -21%

    		 -19%
    Morgan Stanley

    		 MS,
    -1.54%         		4.24%

    		 2.7

    		 -3%

    		 -10%

    		 -13%
    U.S. Bancorp

    		 USB,
    -0.25%         		5.89%

    		 3.8

    		 -22%

    		 -19%

    		 -37%
    Medtronic PLC

    		 MDT,
    -4.32%         		3.62%

    		 2.3

    		 1%

    		 -23%

    		 -22%
    Texas Instruments Inc.

    		 TXN,
    -0.21%         		3.30%

    		 2.1

    		 -3%

    		 -10%

    		 -12%
    United Parcel Service Inc. Class B

    		 UPS,
    -0.16%         		4.17%

    		 2.7

    		 -8%

    		 -16%

    		 -23%
    Union Pacific Corp.

    		 UNP,
    +1.52%         		2.52%

    		 1.6

    		 2%

    		 -16%

    		 -15%
    Source: FactSet

    Click on the tickers for more about each company, fund or index.

    Click here for Tomi Kilgore’s detailed guide to the wealth of information available for free on the MarketWatch quote page.

    Now let’s see how these companies have grown their dividend payouts over the past five years. Leaving the companies in the same order, here are compound annual growth rates (CAGR) for dividends.

    Before showing this next set of data, let’s work through one example among the nine stocks:

    • If you had purchased shares of Home Depot Inc.
      HD,
      -0.39%
      five years ago, you would have paid $193.70 a share if you went in at the close on Oct. 10, 2018. At that time, the company’s quarterly dividend was $1.03 cents a share, for an annual dividend rate of $4.12, which made for a then-current yield of 2.13%.

    • If you had held your shares of Home Depot for five years through Tuesday, your quarterly dividend would have increased to $2.09 a share, for a current annual payout of $8.36. The company’s dividend has increased at a compound annual growth rate (CAGR) of 15.2% over the past five years. In comparison, the S&P 500’s weighted dividend rate has increased at a CAGR of 6.24% over the past five years, according to FactSet.

    • That annual payout rate of $8.36 would make for a current dividend yield of 2.79% for a new investor who went in at Tuesday’s closing price of $299.22. But if you had not reinvested, the dividend yield on your five-year-old shares (based on what you would have paid for them) would be 4.32%. And your share price would have risen 54%. And if you had reinvested your dividends, your total return for the five years would have been 75%, slightly ahead of the 74% return for the S&P 500 SPX during that period.

    Home Depot hasn’t been the best dividend grower among the nine stocks named by Justman, but it is a good example of how an investor can build income over the long term, while also enjoying capital appreciation.

    Here’s the dividend CAGR comparison for the nine stocks:

    Company

    		 Ticker

    		 Five-year dividend CAGR

    		 Dividend yield on shares purchased five years ago

    		 Dividend yield five years ago

    		 Current dividend yield

    		 Five-year price change

    		 Five-year total return
    CME Group Inc. Class A

    		 CME,
    +0.47%         		9.46%

    		 2.44%

    		 1.55%

    		 2.04%

    		 20%

    		 42%
    Home Depot Inc.

    		 HD,
    -0.39%         		15.20%

    		 4.32%

    		 2.13%

    		 2.79%

    		 54%

    		 75%
    Lowe’s Cos, Inc.

    		 LOW,
    +0.27%         		18.04%

    		 4.14%

    		 1.81%

    		 2.17%

    		 91%

    		 109%
    Morgan Stanley

    		 MS,
    -1.54%         		23.16%

    		 7.62%

    		 2.69%

    		 4.24%

    		 80%

    		 108%
    U.S. Bancorp

    		 USB,
    -0.25%         		5.34%

    		 3.60%

    		 2.78%

    		 5.89%

    		 -39%

    		 -26%
    Medtronic PLC

    		 MDT,
    -4.32%         		6.65%

    		 2.90%

    		 2.10%

    		 3.62%

    		 -20%

    		 -9%
    Texas Instruments Inc.

    		 TXN,
    -0.21%         		11.04%

    		 5.24%

    		 3.10%

    		 3.30%

    		 59%

    		 82%
    United Parcel Service Inc. Class B

    		 UPS,
    -0.16%         		12.23%

    		 5.56%

    		 3.12%

    		 4.17%

    		 33%

    		 56%
    Union Pacific Corp.

    		 UNP,
    +1.52%         		10.20%

    		 3.37%

    		 2.07%

    		 2.52%

    		 34%

    		 49%
    Source: FactSet

    This isn’t to say that Justman and Brown have held all of these stocks over the past five years. In fact, Lowe’s Cos.
    LOW,
    +0.27%
    was added to the portfolio this year, as was United Parcel Service Inc.
    UPS,
    -0.16%    .
    But for most of these companies, dividends have compounded at relatively high rates.

    When asked to name an example of a stock the fund had sold, Justman said he and Brown decided to part ways with Verizon Communications Inc.
    VZ,
    -0.94%
    last year, “as we became concerned about its fundamental competitive position in its industry.”

    Summing up the scene for dividend stocks, Justman said, “It seems this year the market is treating dividend stocks as fixed-income instruments. We think that is a short-term issue and that this is a great opportunity.”

    Don’t miss: How to tell if it is worth avoiding taxes with a municipal-bond ETF

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  • Advisor Group Holdings Inc. Raises Holdings in Medtronic plc (NYSE:MDT)

    Advisor Group Holdings Inc. Raises Holdings in Medtronic plc (NYSE:MDT)

    Advisor Group Holdings Inc. increased its position in shares of Medtronic plc (NYSE:MDT – Get Rating) by 11.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 609,610 shares of the medical technology company’s stock after buying an additional 62,922 shares during the period. Advisor Group Holdings Inc.’s holdings in Medtronic were worth $47,407,000 at the end of the most recent quarter.

    Several other institutional investors and hedge funds have also recently made changes to their positions in MDT. Vanguard Group Inc. lifted its stake in shares of Medtronic by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 123,861,994 shares of the medical technology company’s stock worth $10,001,857,000 after purchasing an additional 1,056,995 shares during the last quarter. BlackRock Inc. lifted its position in shares of Medtronic by 5.1% during the third quarter. BlackRock Inc. now owns 115,998,561 shares of the medical technology company’s stock valued at $9,366,883,000 after buying an additional 5,620,477 shares during the last quarter. State Street Corp boosted its holdings in shares of Medtronic by 1.6% in the 3rd quarter. State Street Corp now owns 58,989,713 shares of the medical technology company’s stock valued at $4,802,998,000 after buying an additional 928,929 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Medtronic by 33.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 19,374,686 shares of the medical technology company’s stock worth $1,564,508,000 after buying an additional 4,816,172 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Medtronic by 4.6% during the 3rd quarter. Royal Bank of Canada now owns 13,702,223 shares of the medical technology company’s stock worth $1,106,453,000 after acquiring an additional 608,587 shares in the last quarter. 80.37% of the stock is currently owned by institutional investors.

    Wall Street Analysts Forecast Growth

    MDT has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Medtronic from $80.00 to $87.00 in a report on Wednesday, February 22nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $89.00 price target on shares of Medtronic in a report on Friday, April 21st. Wells Fargo & Company upgraded shares of Medtronic from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $77.00 to $100.00 in a report on Monday, April 24th. Truist Financial lifted their target price on shares of Medtronic from $88.00 to $93.00 in a research note on Monday, April 24th. Finally, Mizuho cut their price target on shares of Medtronic from $100.00 to $95.00 and set a “buy” rating on the stock in a research note on Tuesday, January 24th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $90.11.

    Medtronic Stock Performance

    MDT opened at $89.50 on Tuesday. The firm has a fifty day moving average price of $84.32 and a 200 day moving average price of $82.04. Medtronic plc has a 1 year low of $75.76 and a 1 year high of $106.06. The stock has a market cap of $119.07 billion, a P/E ratio of 29.44, a P/E/G ratio of 2.15 and a beta of 0.71. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.76 and a quick ratio of 1.39.

    Medtronic (NYSE:MDT – Get Rating) last posted its earnings results on Tuesday, February 21st. The medical technology company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.03. The business had revenue of $7.70 billion for 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 company’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the prior year, the company posted $1.37 EPS. Equities research analysts anticipate that Medtronic plc will post 5.28 earnings per share for the current year.

    Medtronic Announces Dividend

    The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 14th. Stockholders of record on Friday, March 24th were given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend was Thursday, March 23rd. Medtronic’s dividend payout ratio (DPR) is presently 89.47%.

    Medtronic Company Profile

    (Get Rating)

    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.

    Read More

    Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

    Receive News & Ratings for Medtronic Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Medtronic and related companies with MarketBeat.com’s FREE daily email newsletter.

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  • Glass Jacobson Investment Advisors llc Invests $78,000 in Medtronic plc (NYSE:MDT)

    Glass Jacobson Investment Advisors llc Invests $78,000 in Medtronic plc (NYSE:MDT)

    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

    (Get Rating)

    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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    Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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  • Medtronic plc (NYSE:MDT) Shares Sold by Cetera Advisors LLC

    Medtronic plc (NYSE:MDT) Shares Sold by Cetera Advisors LLC

    Cetera Advisors LLC cut its position in Medtronic plc (NYSE:MDT – Get Rating) by 30.5% in the second quarter, Holdings Channel reports. The firm owned 39,489 shares of the medical technology company’s stock after selling 17,306 shares during the period. Cetera Advisors LLC’s holdings in Medtronic were worth $3,544,000 as of its most recent filing with the Securities & Exchange Commission.

    A number of other large investors have also recently made changes to their positions in MDT. Vanguard Group Inc. boosted its position in shares of Medtronic by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 120,557,488 shares of the medical technology company’s stock valued at $13,375,853,000 after purchasing an additional 7,403,778 shares during the period. Invesco Ltd. boosted its position in shares of Medtronic by 29.6% in the 1st quarter. Invesco Ltd. now owns 12,205,798 shares of the medical technology company’s stock valued at $1,354,234,000 after purchasing an additional 2,789,882 shares during the period. Bridgewater Associates LP acquired a new stake in shares of Medtronic in the 1st quarter valued at about $208,596,000. Sanders Capital LLC boosted its position in shares of Medtronic by 14.3% in the 1st quarter. Sanders Capital LLC now owns 13,517,677 shares of the medical technology company’s stock valued at $1,660,016,000 after purchasing an additional 1,687,707 shares during the period. Finally, Capital Research Global Investors lifted its position in Medtronic by 6.8% during the 1st quarter. Capital Research Global Investors now owns 22,023,597 shares of the medical technology company’s stock worth $2,443,518,000 after acquiring an additional 1,405,249 shares during the period. 79.81% of the stock is owned by institutional investors and hedge funds.

    Wall Street Analysts Forecast Growth

    A number of analysts have weighed in on the company. Morgan Stanley decreased their price objective on Medtronic from $101.00 to $97.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 11th. Citigroup decreased their price objective on Medtronic from $110.00 to $108.00 in a research report on Wednesday, October 5th. Wells Fargo & Company decreased their price objective on Medtronic from $104.00 to $96.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 24th. Royal Bank of Canada decreased their price objective on Medtronic from $122.00 to $110.00 in a research report on Wednesday, September 7th. Finally, Piper Sandler reduced their price target on Medtronic from $100.00 to $90.00 in a report on Tuesday, August 23rd. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $106.75.

    Medtronic Stock Performance

    Medtronic stock opened at $82.29 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.23 and a current ratio of 1.58. The stock has a fifty day moving average of $84.04 and a two-hundred day moving average of $90.04. The company has a market capitalization of $109.38 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 2.17 and a beta of 0.77. Medtronic plc has a fifty-two week low of $79.19 and a fifty-two week high of $118.80.

    Medtronic (NYSE:MDT – Get Rating) last announced its quarterly earnings data on Tuesday, August 23rd. The medical technology company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.01. The business had revenue of $7.37 billion during the quarter, compared to the consensus estimate of $7.20 billion. Medtronic had a return on equity of 13.64% and a net margin of 16.75%. During the same quarter in the previous year, the business earned $1.41 earnings per share. On average, analysts anticipate that Medtronic plc will post 5.52 EPS for the current fiscal year.

    Insider Activity

    In other news, EVP Hoedt Rob Ten sold 2,404 shares of Medtronic stock in a transaction on Friday, October 14th. The stock was sold at an average price of $81.54, for a total value of $196,022.16. Following the completion of the sale, the executive vice president now owns 43,483 shares of the company’s stock, valued at $3,545,603.82. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.29% of the company’s stock.

    About Medtronic

    (Get Rating)

    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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    Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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