Medtronic plc (NYSE:MDT) Holdings Raised by Bcwm LLC

Bcwm LLC grew its stake in Medtronic plc (NYSE:MDT) by 3.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 113,667 shares of the medical technology company’s stock after purchasing an additional 3,601 shares during the period. Medtronic comprises 3.2% of Bcwm LLC’s investment portfolio, making the stock its 9th biggest position. Bcwm LLC’s holdings in Medtronic were worth $8,947,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MDT. LifeSteps Financial Inc. acquired a new position in shares of Medtronic in the 1st quarter valued at $27,000. Lynx Investment Advisory acquired a new position in shares of Medtronic in the second quarter worth about $28,000. Tributary Capital Management LLC acquired a new stake in shares of Medtronic during the 1st quarter valued at about $33,000. Fortis Group Advisors LLC increased its stake in shares of Medtronic by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock valued at $38,000 after purchasing an additional 230 shares in the last quarter. Finally, Riverview Trust Co purchased a new position in Medtronic during the first quarter worth approximately $39,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Performance

Shares of MDT stock opened at $90.00 on Monday. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $91.49. The company’s 50-day moving average price is $83.60 and its 200-day moving average price is $82.79. The stock has a market cap of $115.40 billion, a price-to-earnings ratio of 32.73, a PEG ratio of 2.57 and a beta of 0.84.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.20 by $0.03. The firm had revenue of $7.97 billion for the quarter, compared to analyst estimates of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.20 EPS. As a group, equities analysts predict that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Friday, September 27th. Medtronic’s payout ratio is 101.82%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MDT. UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and increased their target price for the company from $76.00 to $90.00 in a research report on Thursday, August 15th. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Tuesday, August 20th. The Goldman Sachs Group started coverage on Medtronic in a report on Thursday, May 30th. They set a “sell” rating and a $83.00 target price for the company. Finally, Oppenheimer lifted their price target on Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Medtronic presently has an average rating of “Hold” and an average target price of $92.92.

About Medtronic

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.