C WorldWide Group Holding A S Sells 35,000 Shares of Medtronic PLC (NYSE:MDT)

C WorldWide Group Holding A S lessened its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 12.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 255,000 shares of the medical technology company's stock after selling 35,000 shares during the period. C WorldWide Group Holding A S's holdings in Medtronic were worth $22,914,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MDT. Brighton Jones LLC increased its holdings in Medtronic by 1,368.0% in 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 in the last quarter. Oxford Asset Management LLP increased its holdings in Medtronic by 70.1% in the 4th quarter. Oxford Asset Management LLP now owns 7,442 shares of the medical technology company's stock worth $594,000 after acquiring an additional 3,068 shares in the last quarter. New Vernon Investment Management LLC grew its holdings in Medtronic by 304.9% during the 4th quarter. New Vernon Investment Management LLC now owns 29,613 shares of the medical technology company's stock valued at $2,425,000 after buying an additional 22,300 shares in the last quarter. Insight Inv LLC grew its holdings in Medtronic by 84.2% during the 1st quarter. Insight Inv LLC now owns 27,456 shares of the medical technology company's stock valued at $2,467,000 after buying an additional 12,550 shares in the last quarter. Finally, Argent Trust Co grew its holdings in Medtronic by 13.6% during the 4th quarter. Argent Trust Co now owns 56,020 shares of the medical technology company's stock valued at $4,475,000 after buying an additional 6,721 shares in the last quarter. Institutional investors own 82.06% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Mizuho increased their price objective on shares of Medtronic from $98.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday. Wall Street Zen raised shares of Medtronic from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Leerink Partners assumed coverage on shares of Medtronic in a report on Monday, June 16th. They set an "outperform" rating and a $110.00 price objective for the company. Leerink Partnrs raised shares of Medtronic to a "strong-buy" rating in a report on Monday, June 16th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a report on Friday, June 6th. Eleven analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Medtronic has a consensus rating of "Moderate Buy" and a consensus target price of $98.19.

Medtronic Trading Up 0.7%

MDT traded up $0.59 during trading on Friday, reaching $90.12. The company had a trading volume of 741,413 shares, compared to its average volume of 7,008,713. The stock has a market cap of $115.58 billion, a P/E ratio of 24.88, a PEG ratio of 2.33 and a beta of 0.80. The business has a 50 day simple moving average of $86.29 and a 200-day simple moving average of $87.06. Medtronic PLC has a 52 week low of $78.32 and a 52 week high of $96.25. The company has a quick ratio of 1.42, a current ratio of 1.85 and a debt-to-equity ratio of 0.53.

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

Medtronic Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 3.15%. This is an increase from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date was Friday, June 27th. Medtronic's dividend payout ratio (DPR) is 78.45%.

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.

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