CHURCHILL MANAGEMENT Corp grew its stake in shares of Medtronic PLC (NYSE:MDT) by 62.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,887 shares of the medical technology company’s stock after acquiring an additional 6,088 shares during the period. CHURCHILL MANAGEMENT Corp’s holdings in Medtronic were worth $1,447,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Medtronic by 1.1% during the third quarter. Vanguard Group Inc. now owns 109,447,687 shares of the medical technology company’s stock valued at $10,766,369,000 after buying an additional 1,199,118 shares during the period. Vanguard Group Inc grew its holdings in Medtronic by 1.1% in the third quarter. Vanguard Group Inc now owns 109,447,687 shares of the medical technology company’s stock worth $10,766,369,000 after purchasing an additional 1,199,118 shares during the last quarter. BlackRock Inc. grew its holdings in Medtronic by 1.5% in the fourth quarter. BlackRock Inc. now owns 98,921,138 shares of the medical technology company’s stock worth $8,997,868,000 after purchasing an additional 1,487,997 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Medtronic by 1.3% in the fourth quarter. Bank of New York Mellon Corp now owns 17,225,948 shares of the medical technology company’s stock worth $1,566,873,000 after purchasing an additional 213,593 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Medtronic by 10.2% in the fourth quarter. Geode Capital Management LLC now owns 16,690,207 shares of the medical technology company’s stock worth $1,515,557,000 after purchasing an additional 1,538,130 shares during the last quarter. 81.50% of the stock is owned by hedge funds and other institutional investors.
NYSE:MDT opened at $86.15 on Wednesday. Medtronic PLC has a 12 month low of $78.29 and a 12 month high of $100.15. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.36 and a quick ratio of 1.92. The firm has a market cap of $115.64 billion, a PE ratio of 18.06, a P/E/G ratio of 2.25 and a beta of 0.82.
Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 19th. The medical technology company reported $1.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.05. Medtronic had a net margin of 16.10% and a return on equity of 13.85%. The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.53 billion. During the same period in the previous year, the firm posted $1.17 earnings per share. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities analysts predict that Medtronic PLC will post 5.15 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were paid a dividend of $0.50 per share. The ex-dividend date was Thursday, March 21st. This represents a $2.00 annualized dividend and a dividend yield of 2.32%. Medtronic’s payout ratio is currently 41.93%.
Several research firms have issued reports on MDT. Morgan Stanley lifted their price target on shares of Medtronic from $98.00 to $102.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 2nd. JPMorgan Chase & Co. raised shares of Medtronic from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $100.00 to $109.00 in a report on Wednesday, December 19th. Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $117.00 price target (down from $120.00) on shares of Medtronic in a report on Monday, February 4th. Northland Securities reaffirmed a “hold” rating and issued a $84.00 price target on shares of Medtronic in a report on Monday, March 18th. Finally, BTIG Research raised shares of Medtronic from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a report on Tuesday, January 15th. Ten analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $103.39.
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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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