Mcdaniel Terry & Co. Boosts Stock Position in Medtronic plc (NYSE:MDT)

Mcdaniel Terry & Co. increased its stake in shares of Medtronic plc (NYSE:MDT) by 3.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,568 shares of the medical technology company’s stock after purchasing an additional 250 shares during the quarter. Mcdaniel Terry & Co.’s holdings in Medtronic were worth $771,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Chemung Canal Trust Co. increased its stake in shares of Medtronic by 1,467.5% during the 1st quarter. Chemung Canal Trust Co. now owns 47,902 shares of the medical technology company’s stock valued at $4,175,000 after acquiring an additional 44,846 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Medtronic during the 2nd quarter valued at about $25,643,000. SageView Advisory Group LLC increased its stake in shares of Medtronic by 130.3% during the 1st quarter. SageView Advisory Group LLC now owns 16,829 shares of the medical technology company’s stock valued at $1,467,000 after acquiring an additional 9,523 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Medtronic by 10.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 135,268 shares of the medical technology company’s stock valued at $11,789,000 after acquiring an additional 12,250 shares during the last quarter. Finally, Burns J W & Co. Inc. NY increased its stake in shares of Medtronic by 17.4% during the 1st quarter. Burns J W & Co. Inc. NY now owns 3,276 shares of the medical technology company’s stock valued at $286,000 after acquiring an additional 486 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Down 1.4 %

Shares of MDT stock opened at $90.99 on Friday. The stock’s 50 day simple moving average is $89.04 and its 200 day simple moving average is $83.74. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $92.68. The company has a market capitalization of $116.67 billion, a price-to-earnings ratio of 33.09, a PEG ratio of 2.53 and a beta of 0.84.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.03. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The company had revenue of $7.97 billion for the quarter, compared to analyst estimates of $7.90 billion. During the same quarter last year, the firm earned $1.20 EPS. Medtronic’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, research analysts predict that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.80 annualized dividend and a yield of 3.08%. Medtronic’s payout ratio is 101.82%.

Analyst Ratings Changes

A number of analysts have recently issued reports on MDT shares. UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $76.00 to $90.00 in a report on Thursday, August 15th. Robert W. Baird boosted their target price on Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Wells Fargo & Company boosted their target price on Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Oppenheimer boosted their target price on Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a report on Wednesday, August 21st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $95.36.

Medtronic Company Profile

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.