NBC Securities Inc. Has $3.47 Million Holdings in Medtronic plc (NYSE:MDT)

NBC Securities Inc. grew its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 101,634.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,659 shares of the medical technology company's stock after acquiring an additional 38,621 shares during the quarter. NBC Securities Inc.'s holdings in Medtronic were worth $3,473,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC boosted its position 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 buying an additional 37,265 shares during the last quarter. Austin Private Wealth LLC raised its stake in Medtronic by 24.4% during the fourth quarter. Austin Private Wealth LLC now owns 3,876 shares of the medical technology company's stock worth $310,000 after acquiring an additional 759 shares during the period. Clear Creek Financial Management LLC lifted its holdings in shares of Medtronic by 15.6% in the 4th quarter. Clear Creek Financial Management LLC now owns 3,595 shares of the medical technology company's stock worth $287,000 after purchasing an additional 484 shares during the last quarter. Chicago Partners Investment Group LLC boosted its holdings in shares of Medtronic by 43.9% during the fourth quarter. Chicago Partners Investment Group LLC now owns 7,009 shares of the medical technology company's stock valued at $579,000 after acquiring an additional 2,139 shares during the period. Finally, China Universal Asset Management Co. Ltd. bought a new position in Medtronic in the 4th quarter worth about $1,155,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Performance

MDT stock traded up $0.17 on Wednesday, reaching $85.71. 8,976,312 shares of the company were exchanged, compared to its average volume of 6,845,406. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The stock's fifty day moving average price is $84.04 and its 200 day moving average price is $86.16. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25. The firm has a market capitalization of $109.93 billion, a PE ratio of 26.05, a PEG ratio of 2.22 and a beta of 0.81.

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, beating the consensus estimate of $1.58 by $0.04. The firm had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.81 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The company's quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.46 earnings per share. On average, research analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.31%. This is a positive change from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, June 27th. Medtronic's dividend payout ratio is presently 78.45%.

Analyst Ratings Changes

MDT has been the topic of a number of recent analyst reports. Wall Street Zen cut shares of Medtronic from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research report on Monday, May 19th. Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and raised their target price for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. Mizuho lowered their price objective on shares of Medtronic from $100.00 to $98.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. Finally, Royal Bank of Canada cut their price target on Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Nine investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $97.00.

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.