Northwestern Mutual Wealth Management Co. lowered its holdings in Medtronic PLC (NYSE:MDT) by 2.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 68,390 shares of the medical technology company’s stock after selling 1,708 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Medtronic were worth $6,167,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of MDT. Stonebridge Financial Planning Group LLC purchased a new position in Medtronic during the 4th quarter worth $34,000. Reilly Financial Advisors LLC boosted its holdings in Medtronic by 79.4% during the 1st quarter. Reilly Financial Advisors LLC now owns 375 shares of the medical technology company’s stock worth $34,000 after acquiring an additional 166 shares during the last quarter. Lion Street Advisors LLC purchased a new position in Medtronic during the 1st quarter worth $36,000. CLS Investments LLC boosted its holdings in Medtronic by 44.2% during the 4th quarter. CLS Investments LLC now owns 346 shares of the medical technology company’s stock worth $39,000 after acquiring an additional 106 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Medtronic by 71.8% during the 4th quarter. Versant Capital Management Inc now owns 354 shares of the medical technology company’s stock worth $40,000 after acquiring an additional 148 shares during the last quarter. 81.74% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently commented on the company. Bank of America reiterated a “buy” rating and set a $130.00 target price on shares of Medtronic in a research note on Friday. JPMorgan Chase & Co. reduced their target price on Medtronic from $128.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Raymond James cut their price objective on Medtronic from $110.00 to $107.00 and set an “outperform” rating for the company in a report on Friday. DZ Bank lowered Medtronic from a “buy” rating to a “hold” rating and set a $92.00 target price for the company. in a research note on Thursday, May 14th. Finally, Deutsche Bank lowered their price objective on Medtronic from $123.00 to $118.00 and set a “buy” rating for the company in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. Medtronic presently has a consensus rating of “Buy” and a consensus target price of $115.37.
MDT opened at $94.72 on Friday. The stock has a fifty day simple moving average of $96.70 and a two-hundred day simple moving average of $105.81. The company has a current ratio of 2.13, a quick ratio of 2.28 and a debt-to-equity ratio of 0.43. The company has a market cap of $127.87 billion, a price-to-earnings ratio of 26.68, a price-to-earnings-growth ratio of 2.57 and a beta of 0.69. Medtronic PLC has a 12-month low of $72.13 and a 12-month high of $122.15.
Medtronic (NYSE:MDT) last posted its quarterly earnings data on Thursday, May 21st. The medical technology company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.70). The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.10 billion. Medtronic had a return on equity of 12.17% and a net margin of 16.56%. Medtronic’s revenue for the quarter was down 26.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.54 EPS. On average, analysts predict that Medtronic PLC will post 4.82 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be issued a $0.58 dividend. This is an increase from Medtronic’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, June 25th. This represents a $2.32 dividend on an annualized basis and a yield of 2.45%. Medtronic’s dividend payout ratio is 47.06%.
Medtronic Company Profile
Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.
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