Mandatum Life Insurance Co Ltd boosted its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 20.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 59,138 shares of the medical technology company's stock after buying an additional 10,000 shares during the period. Medtronic accounts for approximately 1.6% of Mandatum Life Insurance Co Ltd's holdings, making the stock its 17th biggest position. Mandatum Life Insurance Co Ltd's holdings in Medtronic were worth $5,314,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Medtronic during the fourth quarter worth $1,163,580,000. Beutel Goodman & Co Ltd. purchased a new stake in shares of Medtronic during the fourth quarter worth about $377,169,000. Invesco Ltd. grew its stake in Medtronic by 17.8% during the 4th quarter. Invesco Ltd. now owns 15,445,284 shares of the medical technology company's stock valued at $1,233,769,000 after acquiring an additional 2,333,600 shares in the last quarter. Burgundy Asset Management Ltd. purchased a new stake in Medtronic during the 4th quarter valued at about $174,329,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Medtronic in the 4th quarter valued at approximately $139,869,000. Institutional investors own 82.06% of the company's stock.
Medtronic Price Performance
NYSE MDT traded up $0.61 on Friday, reaching $90.14. The company's stock had a trading volume of 741,413 shares, compared to its average volume of 7,008,713. Medtronic PLC has a twelve month low of $78.32 and a twelve month high of $96.25. 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 stock has a market cap of $115.60 billion, a PE ratio of 24.88, a PEG ratio of 2.33 and a beta of 0.80. The firm's 50 day moving average is $86.29 and its two-hundred day moving average is $87.06.
Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data 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 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 analyst estimates of $8.81 billion. During the same period in the prior year, the firm earned $1.46 earnings per share. The business's quarterly revenue was up 3.9% on a year-over-year basis. As a group, sell-side analysts predict that Medtronic PLC will post 5.46 EPS for the current year.
Medtronic Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.15%. This is a positive change from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, June 27th. Medtronic's dividend payout ratio is 78.45%.
Analysts Set New Price Targets
A number of equities research analysts have commented on the stock. Wolfe Research raised shares of Medtronic from an "underperform" rating to a "peer perform" rating in a research report on Monday, June 30th. Mizuho lifted their target price on shares of Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday. Leerink Partnrs upgraded shares of Medtronic to a "strong-buy" rating in a report on Monday, June 16th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a report on Friday, June 6th. Finally, Leerink Partners started coverage on shares of Medtronic in a report on Monday, June 16th. They issued an "outperform" rating and a $110.00 target price for the company. Eleven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Medtronic has a consensus rating of "Moderate Buy" and a consensus price target of $98.19.
View Our Latest Report on Medtronic
Medtronic Profile
(
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.
Further Reading
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