Indiana Trust & Investment Management CO lessened its holdings in shares of Medtronic plc (NYSE:MDT) by 7.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,386 shares of the medical technology company’s stock after selling 342 shares during the quarter. Indiana Trust & Investment Management CO’s holdings in Medtronic were worth $518,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Meridian Wealth Management LLC raised its holdings in shares of Medtronic by 34.1% during the fourth quarter. Meridian Wealth Management LLC now owns 3,566 shares of the medical technology company’s stock valued at $417,000 after acquiring an additional 906 shares in the last quarter. Toth Financial Advisory Corp grew its stake in Medtronic by 2.0% in the fourth quarter. Toth Financial Advisory Corp now owns 63,711 shares of the medical technology company’s stock worth $7,463,000 after purchasing an additional 1,241 shares during the period. Synovus Financial Corp grew its stake in Medtronic by 19.3% in the fourth quarter. Synovus Financial Corp now owns 32,462 shares of the medical technology company’s stock worth $3,805,000 after purchasing an additional 5,241 shares during the period. RNC Capital Management LLC purchased a new stake in Medtronic in the fourth quarter worth $2,249,000. Finally, Captrust Financial Advisors grew its stake in Medtronic by 13.2% in the fourth quarter. Captrust Financial Advisors now owns 321,954 shares of the medical technology company’s stock worth $37,899,000 after purchasing an additional 37,518 shares during the period. Institutional investors own 79.17% of the company’s stock.
Shares of NYSE:MDT traded up $0.40 during midday trading on Thursday, reaching $121.03. 52,789 shares of the company’s stock traded hands, compared to its average volume of 4,695,874. The company has a market cap of $163.16 billion, a price-to-earnings ratio of 46.04, a P/E/G ratio of 3.65 and a beta of 0.70. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.79 and a current ratio of 2.16. Medtronic plc has a one year low of $87.68 and a one year high of $122.05. The stock has a 50 day moving average of $117.62 and a 200 day moving average of $113.27.
Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, February 23rd. The medical technology company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.14. The firm had revenue of $7.78 billion for the quarter, compared to the consensus estimate of $7.77 billion. Medtronic had a return on equity of 9.71% and a net margin of 12.69%. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the company posted $1.44 earnings per share. Sell-side analysts predict that Medtronic plc will post 4.21 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 16th. Shareholders of record on Friday, March 26th will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Thursday, March 25th. Medtronic’s dividend payout ratio is 50.54%.
Several equities research analysts recently weighed in on the company. Raymond James upped their price target on Medtronic from $122.00 to $128.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 3rd. Stifel Nicolaus upped their price target on Medtronic from $132.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, March 2nd. Credit Suisse Group upped their price target on Medtronic from $126.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 3rd. The Goldman Sachs Group raised Medtronic from a “sell” rating to a “neutral” rating and upped their price target for the stock from $100.00 to $119.00 in a research note on Tuesday, December 15th. Finally, Morgan Stanley raised Medtronic from an “equal weight” rating to an “overweight” rating and set a $140.00 target price on the stock in a research note on Tuesday, December 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $122.50.
Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.
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