Czech National Bank Raises Stake in Medtronic plc (NYSE:MDT)

Czech National Bank grew its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 5.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 294,521 shares of the medical technology company's stock after acquiring an additional 16,456 shares during the period. Czech National Bank's holdings in Medtronic were worth $26,466,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Bond & Devick Financial Network Inc. raised its position in Medtronic by 15.8% during the 1st quarter. Bond & Devick Financial Network Inc. now owns 3,672 shares of the medical technology company's stock worth $330,000 after purchasing an additional 500 shares during the last quarter. 180 Wealth Advisors LLC increased its stake in shares of Medtronic by 3.4% in the first quarter. 180 Wealth Advisors LLC now owns 37,034 shares of the medical technology company's stock valued at $3,328,000 after buying an additional 1,208 shares during the period. Bowman & Co S.C. raised its position in shares of Medtronic by 6.5% during the first quarter. Bowman & Co S.C. now owns 17,900 shares of the medical technology company's stock worth $1,609,000 after acquiring an additional 1,099 shares during the last quarter. Allied Investment Advisors LLC lifted its stake in shares of Medtronic by 8.5% in the first quarter. Allied Investment Advisors LLC now owns 115,412 shares of the medical technology company's stock worth $10,371,000 after acquiring an additional 9,002 shares during the period. Finally, Fifth Third Wealth Advisors LLC boosted its holdings in Medtronic by 5.1% in the first quarter. Fifth Third Wealth Advisors LLC now owns 27,191 shares of the medical technology company's stock valued at $2,443,000 after acquiring an additional 1,322 shares during the last quarter. Institutional investors own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MDT shares. Truist Financial lowered their price target on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a report on Friday, April 11th. Wall Street Zen downgraded shares of Medtronic from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research report on Monday, May 19th. UBS Group increased their price target on Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Finally, Mizuho cut their target price on Medtronic from $100.00 to $98.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. Nine equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Medtronic presently has a consensus rating of "Moderate Buy" and a consensus price target of $97.00.

Medtronic Stock Performance

Shares of Medtronic stock traded up $0.17 during mid-day trading on Wednesday, hitting $85.71. 9,070,613 shares of the stock were exchanged, compared to its average volume of 7,764,544. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25. The company has a 50-day simple moving average of $84.04 and a 200 day simple moving average of $86.16. The company has a market capitalization of $109.93 billion, a P/E ratio of 26.05, a P/E/G ratio of 2.22 and a beta of 0.81. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.04. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The company had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.81 billion. During the same period last year, the business posted $1.46 earnings per share. Medtronic's revenue was up 3.9% on a year-over-year basis. Sell-side analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The firm also recently announced 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 represents a $2.84 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date is Friday, June 27th. This is a positive change from Medtronic's previous quarterly dividend of $0.70. Medtronic's dividend payout ratio (DPR) is currently 78.45%.

Medtronic 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.