Johnson Financial Group Inc. Has $2.27 Million Stock Position in Medtronic plc (NYSE:MDT)

Johnson Financial Group Inc. reduced its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 11.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,364 shares of the medical technology company's stock after selling 3,660 shares during the quarter. Johnson Financial Group Inc.'s holdings in Medtronic were worth $2,266,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of MDT. Morse Asset Management Inc bought a new position in Medtronic during the 3rd quarter valued at approximately $225,000. Te Ahumairangi Investment Management Ltd lifted its holdings in shares of Medtronic by 4.1% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 52,321 shares of the medical technology company's stock valued at $4,684,000 after buying an additional 2,050 shares during the period. Chelsea Counsel Co. bought a new position in Medtronic in the 3rd quarter worth $45,000. Tudor Financial Inc. purchased a new stake in shares of Medtronic during the third quarter worth about $586,000. Finally, Anchor Investment Management LLC boosted its stake in Medtronic by 1.2% in the 3rd quarter. Anchor Investment Management LLC now owns 107,518 shares of the medical technology company's stock worth $9,680,000 after purchasing an additional 1,271 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Trading Down 1.2 %

NYSE MDT traded down $1.06 during trading hours on Thursday, hitting $83.70. 2,323,515 shares of the company's stock were exchanged, compared to its average volume of 6,657,066. The business's 50 day moving average is $87.91 and its 200-day moving average is $87.17. 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 $107.35 billion, a P/E ratio of 25.46, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79. 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 released its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $1.36 by $0.03. The company had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. As a group, analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.35%. Medtronic's dividend payout ratio (DPR) is 85.11%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MDT. Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. Royal Bank of Canada reiterated an "outperform" rating and issued a $105.00 target price on shares of Medtronic in a research note on Wednesday, February 19th. Robert W. Baird raised their price objective on Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Finally, UBS Group raised their price objective on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $96.14.

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.