Triangle Securities Wealth Management increased its holdings in Medtronic plc (NYSE:MDT – Get Rating) by 2.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 14,235 shares of the medical technology company’s stock after buying an additional 310 shares during the period. Triangle Securities Wealth Management’s holdings in Medtronic were worth $1,579,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in MDT. Dixon Hughes Goodman Wealth Advisors LLC acquired a new position in shares of Medtronic during the fourth quarter valued at $25,000. PYA Waltman Capital LLC acquired a new position in shares of Medtronic in the 4th quarter valued at $25,000. Horan Securities Inc. acquired a new stake in Medtronic during the 4th quarter worth about $25,000. Curi Wealth Management LLC purchased a new position in Medtronic during the 4th quarter valued at about $27,000. Finally, Kenfarb & CO. acquired a new position in Medtronic in the 4th quarter valued at approximately $29,000. 80.23% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently issued reports on MDT shares. Atlantic Securities downgraded Medtronic from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $125.00 to $105.00 in a research note on Wednesday, June 1st. Morgan Stanley decreased their target price on Medtronic from $115.00 to $114.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 7th. Bank of America started coverage on shares of Medtronic in a research report on Tuesday, March 1st. They issued a “buy” rating on the stock. Sanford C. Bernstein reaffirmed a “buy” rating and set a $122.00 price objective on shares of Medtronic in a report on Friday, May 20th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Medtronic from $149.00 to $121.00 in a report on Friday, May 27th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Medtronic presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.55.
Medtronic (NYSE:MDT – Get Rating) last posted its quarterly earnings data on Thursday, May 26th. The medical technology company reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.04). Medtronic had a return on equity of 14.50% and a net margin of 15.90%. The business had revenue of $8.09 billion during the quarter, compared to analyst estimates of $8.43 billion. During the same period in the prior year, the firm posted $1.50 EPS. Medtronic’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, equities research analysts predict that Medtronic plc will post 5.56 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Friday, June 24th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 3.05%. The ex-dividend date is Thursday, June 23rd. This is a boost from Medtronic’s previous quarterly dividend of $0.63. Medtronic’s dividend payout ratio (DPR) is presently 67.56%.
About Medtronic (Get Rating)
Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiovascular Portfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit. The Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; AF ablation products; insertable cardiac monitor systems; mechanical circulatory support; TYRX products; and remote monitoring and patient-centered software.
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