Junto Capital Management LP Has $49.10 Million Stock Position in Medtronic plc (NYSE:MDT)

Junto Capital Management LP decreased its position in Medtronic plc (NYSE:MDT - Free Report) by 6.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 614,675 shares of the medical technology company's stock after selling 44,920 shares during the quarter. Junto Capital Management LP's holdings in Medtronic were worth $49,100,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in Medtronic during the fourth quarter worth $1,163,580,000. Raymond James Financial Inc. bought a new position in Medtronic during the fourth quarter worth $852,732,000. Beutel Goodman & Co Ltd. bought a new position in Medtronic during the fourth quarter worth $377,169,000. Van ECK Associates Corp increased its position in Medtronic by 2,043.4% during the fourth quarter. Van ECK Associates Corp now owns 2,598,150 shares of the medical technology company's stock worth $207,540,000 after acquiring an additional 2,476,935 shares during the period. Finally, Invesco Ltd. increased its position in Medtronic by 17.8% during the fourth quarter. Invesco Ltd. now owns 15,445,284 shares of the medical technology company's stock worth $1,233,769,000 after acquiring an additional 2,333,600 shares during the period. Institutional investors own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

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

Medtronic Price Performance

Shares of NYSE:MDT traded down $0.87 on Wednesday, hitting $84.24. The stock had a trading volume of 5,684,370 shares, compared to its average volume of 6,743,614. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The firm's 50 day moving average price is $86.22 and its 200-day moving average price is $86.70. The company has a market capitalization of $108.04 billion, a price-to-earnings ratio of 25.60, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81.

Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The company had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. On average, equities research analysts predict that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.32%. Medtronic's dividend payout ratio is presently 85.11%.

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.