Siemens Fonds Invest GmbH Has $492,000 Stake in Medtronic plc (NYSE:MDT)

Siemens Fonds Invest GmbH lowered its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 88.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,156 shares of the medical technology company's stock after selling 46,107 shares during the period. Siemens Fonds Invest GmbH's holdings in Medtronic were worth $492,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Medtronic during the 4th quarter valued at $139,869,000. Brucke Financial Inc. purchased a new stake in shares of Medtronic in the 4th quarter worth about $176,000. Azzad Asset Management Inc. ADV lifted its position in shares of Medtronic by 3.2% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 62,258 shares of the medical technology company's stock worth $4,973,000 after purchasing an additional 1,902 shares during the period. Talaria Asset Management Pty Ltd purchased a new stake in shares of Medtronic in the 4th quarter worth about $45,340,000. Finally, Bernard Wealth Management Corp. purchased a new stake in shares of Medtronic in the 4th quarter worth about $150,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Stock Performance

MDT stock traded up $0.62 during trading on Friday, reaching $83.03. 11,022,726 shares of the company's stock were exchanged, compared to its average volume of 6,808,820. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25. The company's fifty day moving average price is $84.19 and its 200-day moving average price is $86.20. The firm has a market cap of $106.49 billion, a PE ratio of 25.24, a P/E/G ratio of 2.22 and a beta of 0.81.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.04. The business had revenue of $8.93 billion during 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 revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.46 earnings per share. On average, research analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 3.42%. The ex-dividend date is Friday, June 27th. This is an increase from Medtronic's previous quarterly dividend of $0.70. Medtronic's dividend payout ratio is 78.45%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MDT. Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and increased their price target for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. Robert W. Baird decreased their price target on shares of Medtronic from $94.00 to $92.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. Mizuho decreased their price target on shares of Medtronic from $100.00 to $98.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Royal Bank of Canada decreased their price target on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Finally, Wall Street Zen lowered shares of Medtronic from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Nine investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Medtronic presently has an average rating of "Moderate Buy" and a consensus target price of $97.00.

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.