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Baader Bank Aktiengesellschaft Has $1.13 Million Stake in Medtronic PLC (NYSE:MDT)

Medtronic logo with Medical background

Key Points

  • Baader Bank Aktiengesellschaft reduced its holdings in Medtronic PLC by 38.2% to 12,613 shares, worth approximately $1.13 million, as reported in its recent 13F filing.
  • Several institutional investors, including Capital Research Global Investors and Massachusetts Financial Services, increased their stakes in Medtronic, with 82.06% of the stock now owned by institutional investors.
  • Medtronic recently declared a quarterly dividend of $0.71 per share, raising the annualized yield to 3.10%, reflecting a payout ratio of 78.45%.
  • MarketBeat previews the top five stocks to own by September 1st.

Baader Bank Aktiengesellschaft lessened its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 38.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,613 shares of the medical technology company's stock after selling 7,780 shares during the quarter. Baader Bank Aktiengesellschaft's holdings in Medtronic were worth $1,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC grew its position in Medtronic by 1,368.0% during the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock worth $3,194,000 after acquiring an additional 37,265 shares during the last quarter. Summit Financial LLC increased its holdings in shares of Medtronic by 55.4% during the fourth quarter. Summit Financial LLC now owns 20,330 shares of the medical technology company's stock valued at $1,638,000 after acquiring an additional 7,249 shares in the last quarter. Meeder Advisory Services Inc. raised its stake in shares of Medtronic by 2.6% in the fourth quarter. Meeder Advisory Services Inc. now owns 18,604 shares of the medical technology company's stock worth $1,486,000 after purchasing an additional 479 shares during the last quarter. Columbia Asset Management purchased a new position in shares of Medtronic in the fourth quarter worth $4,284,000. Finally, Huntington National Bank raised its stake in shares of Medtronic by 2.7% in the fourth quarter. Huntington National Bank now owns 127,597 shares of the medical technology company's stock worth $10,192,000 after purchasing an additional 3,412 shares during the last quarter. Institutional investors own 82.06% of the company's stock.

Medtronic Price Performance

Shares of Medtronic stock traded down $0.93 during trading on Friday, hitting $89.31. 6,507,377 shares of the company's stock traded hands, compared to its average volume of 6,483,095. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42. The firm's fifty day moving average price is $87.76 and its 200 day moving average price is $87.82. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $96.25. The company has a market cap of $114.54 billion, a PE ratio of 24.67, a PEG ratio of 2.32 and a beta of 0.80.

Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.04. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The company had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.81 billion. During the same period in the previous year, the firm posted $1.46 earnings per share. The company's revenue was up 3.9% on a year-over-year basis. Analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were given a $0.71 dividend. This is a boost from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, June 27th. Medtronic's payout ratio is presently 78.45%.

Analyst Upgrades and Downgrades

Several research firms have commented on MDT. Wall Street Zen upgraded Medtronic from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Leerink Partners assumed coverage on Medtronic in a research note on Monday, June 16th. They issued an "outperform" rating and a $110.00 target price for the company. Evercore ISI boosted their price objective on Medtronic from $103.00 to $106.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Citigroup boosted their price objective on Medtronic from $98.00 to $99.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Finally, BTIG Research restated a "neutral" rating on shares of Medtronic in a research report on Friday, July 11th. Eleven research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $98.19.

Read Our Latest Stock Report on MDT

About Medtronic

(Free Report)

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.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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