Citizens Financial Group Inc RI lessened its position in Medtronic PLC (NYSE:MDT) by 10.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,100 shares of the medical technology company’s stock after selling 679 shares during the period. Citizens Financial Group Inc RI’s holdings in Medtronic were worth $551,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in MDT. Barnett & Company Inc. acquired a new stake in shares of Medtronic during the fourth quarter worth $34,000. Stonebridge Financial Planning Group LLC acquired a new stake in shares of Medtronic during the fourth quarter worth $34,000. Reilly Financial Advisors LLC raised its position in shares of Medtronic by 79.4% during the first quarter. Reilly Financial Advisors LLC now owns 375 shares of the medical technology company’s stock worth $34,000 after purchasing an additional 166 shares during the period. Lion Street Advisors LLC acquired a new stake in shares of Medtronic during the first quarter worth $36,000. Finally, CLS Investments LLC raised its position in shares of Medtronic by 44.2% during the fourth quarter. CLS Investments LLC now owns 346 shares of the medical technology company’s stock worth $39,000 after purchasing an additional 106 shares during the period. 81.74% of the stock is currently owned by institutional investors.
A number of brokerages have recently issued reports on MDT. JPMorgan Chase & Co. cut their target price on Medtronic from $128.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Goldman Sachs Group began coverage on Medtronic in a research report on Wednesday, February 12th. They set a “sell” rating and a $118.00 target price on the stock. Credit Suisse Group cut their target price on Medtronic from $126.00 to $121.00 and set an “outperform” rating on the stock in a research report on Friday, March 6th. SVB Leerink lifted their price target on Medtronic from $100.00 to $105.00 and gave the company a “market perform” rating in a report on Tuesday, April 28th. Finally, Raymond James lowered their price target on Medtronic from $122.00 to $110.00 and set an “outperform” rating on the stock in a report on Thursday, April 9th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $115.61.
Shares of NYSE MDT opened at $95.41 on Friday. The company has a market capitalization of $131.44 billion, a P/E ratio of 24.22, a price-to-earnings-growth ratio of 2.64 and a beta of 0.69. The business’s 50-day moving average price is $96.59 and its two-hundred day moving average price is $105.87. Medtronic PLC has a one year low of $72.13 and a one year high of $122.15. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.75 and a quick ratio of 2.28.
Medtronic (NYSE:MDT) last released its quarterly earnings results on Thursday, May 21st. The medical technology company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.70). The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.10 billion. Medtronic had a return on equity of 14.76% and a net margin of 17.11%. The business’s revenue 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, equities analysts anticipate that Medtronic PLC will post 4.68 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend is Thursday, June 25th. This is an increase from Medtronic’s previous quarterly dividend of $0.54. Medtronic’s dividend payout ratio is 41.38%.
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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