Crossmark Global Holdings Inc. increased its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 1.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 359,331 shares of the medical technology company's stock after purchasing an additional 3,923 shares during the period. Crossmark Global Holdings Inc.'s holdings in Medtronic were worth $32,290,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. TCTC Holdings LLC lifted its stake in Medtronic by 3.4% in the 4th quarter. TCTC Holdings LLC now owns 39,718 shares of the medical technology company's stock valued at $3,173,000 after acquiring an additional 1,301 shares in the last quarter. Brighton Jones LLC lifted its stake 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 valued at $3,194,000 after acquiring an additional 37,265 shares in the last quarter. Oxford Asset Management LLP lifted its stake 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 valued at $594,000 after acquiring an additional 3,068 shares in the last quarter. New Vernon Investment Management LLC lifted its stake in Medtronic by 304.9% in 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 acquiring an additional 22,300 shares in the last quarter. Finally, Insight Inv LLC lifted its stake in Medtronic by 84.2% in the 1st quarter. Insight Inv LLC now owns 27,456 shares of the medical technology company's stock valued at $2,467,000 after acquiring an additional 12,550 shares in the last quarter. Institutional investors own 82.06% of the company's stock.
Medtronic Stock Performance
MDT traded down $0.66 during trading hours on Monday, reaching $87.73. The company's stock had a trading volume of 7,217,285 shares, compared to its average volume of 6,999,557. Medtronic PLC has a 52 week low of $75.96 and a 52 week high of $96.25. The company's 50-day moving average is $85.30 and its 200-day moving average is $86.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.42 and a current ratio of 1.85. The firm has a market cap of $112.52 billion, a PE ratio of 24.23, a price-to-earnings-growth ratio of 2.39 and a beta of 0.80.
Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, beating analysts' consensus estimates of $1.58 by $0.04. Medtronic had a return on equity of 14.54% and a net margin of 13.90%. The business had revenue of $8.93 billion for the quarter, compared to analysts' expectations of $8.81 billion. During the same quarter in the prior year, the business earned $1.46 EPS. The firm's revenue for the quarter was up 3.9% on a year-over-year basis. On average, equities analysts forecast that Medtronic PLC will post 5.46 EPS for the current year.
Medtronic Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given a dividend of $0.71 per share. This is a boost from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date is Friday, June 27th. This represents a $2.84 annualized dividend and a yield of 3.24%. Medtronic's dividend payout ratio (DPR) is presently 78.45%.
Analyst Ratings Changes
Several research firms have weighed in on MDT. Wall Street Zen raised Medtronic from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Royal Bank Of Canada lowered their price target on Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. Leerink Partnrs raised Medtronic to a "strong-buy" rating in a research report on Monday, June 16th. Robert W. Baird lowered their price target on Medtronic from $94.00 to $92.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Finally, Leerink Partners began coverage on Medtronic in a research report on Monday, June 16th. They set an "outperform" rating and a $110.00 price target on the stock. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Medtronic presently has a consensus rating of "Moderate Buy" and a consensus target price of $97.87.
View Our Latest Analysis on Medtronic
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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