Jacobs & Co. CA Has $4.92 Million Stake in Medtronic plc (NYSE:MDT)


Share on StockTwits

Jacobs & Co. CA decreased its stake in Medtronic plc (NYSE:MDT) by 1.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 41,685 shares of the medical technology company’s stock after selling 529 shares during the period. Jacobs & Co. CA’s holdings in Medtronic were worth $4,924,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Wealth Alliance increased its holdings in shares of Medtronic by 3.4% in the third quarter. Wealth Alliance now owns 9,874 shares of the medical technology company’s stock worth $1,026,000 after acquiring an additional 323 shares in the last quarter. Polar Capital LLP increased its holdings in shares of Medtronic by 159.2% in the third quarter. Polar Capital LLP now owns 1,169,376 shares of the medical technology company’s stock worth $121,522,000 after acquiring an additional 718,244 shares in the last quarter. Advisory Alpha LLC bought a new stake in shares of Medtronic in the third quarter worth about $107,000. Lombard Odier Asset Management Switzerland SA bought a new stake in shares of Medtronic in the third quarter worth about $740,000. Finally, Chartwell Investment Partners LLC increased its holdings in shares of Medtronic by 18.1% in the third quarter. Chartwell Investment Partners LLC now owns 53,671 shares of the medical technology company’s stock worth $5,577,000 after acquiring an additional 8,208 shares in the last quarter. 79.17% of the stock is currently owned by hedge funds and other institutional investors.

MDT traded up $0.43 during trading hours on Thursday, reaching $121.06. The company’s stock had a trading volume of 44,867 shares, compared to its average volume of 4,695,874. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.79 and a current ratio of 2.16. The firm has a market cap of $163.20 billion, a PE ratio of 46.04, a price-to-earnings-growth ratio of 3.65 and a beta of 0.70. The company’s 50-day moving average is $117.62 and its 200-day moving average is $113.27. Medtronic plc has a 52 week low of $87.68 and a 52 week high of $122.05.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 23rd. The medical technology company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.14. The firm had revenue of $7.78 billion for the quarter, compared to analysts’ expectations of $7.77 billion. Medtronic had a return on equity of 9.71% and a net margin of 12.69%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the business earned $1.44 EPS. Equities analysts anticipate that Medtronic plc will post 4.21 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 16th. Shareholders of record on Friday, March 26th will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Thursday, March 25th. Medtronic’s payout ratio is 50.54%.

A number of research analysts recently issued reports on the company. Credit Suisse Group increased their price objective on Medtronic from $126.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, March 3rd. The Goldman Sachs Group upgraded Medtronic from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $100.00 to $119.00 in a report on Tuesday, December 15th. Morgan Stanley upgraded Medtronic from an “equal weight” rating to an “overweight” rating and set a $140.00 price objective for the company in a report on Tuesday, December 15th. SVB Leerink increased their price objective on Medtronic from $123.00 to $129.00 and gave the stock a “market perform” rating in a report on Tuesday, March 2nd. Finally, Cowen increased their price objective on Medtronic from $120.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, February 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $122.50.

Medtronic 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.

Recommended Story: Secondary Public Offerings

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).

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.