ST Germain D J Co. Inc. Has $6.49 Million Holdings in Medtronic plc (NYSE:MDT)

ST Germain D J Co. Inc. raised its position in shares of Medtronic plc (NYSE:MDT) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,301 shares of the medical technology company’s stock after purchasing an additional 1,796 shares during the period. ST Germain D J Co. Inc.’s holdings in Medtronic were worth $6,494,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Medtronic by 436.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company’s stock worth $661,125,000 after purchasing an additional 5,975,110 shares during the last quarter. Bank of Montreal Can boosted its holdings in Medtronic by 65.0% in the third quarter. Bank of Montreal Can now owns 4,546,819 shares of the medical technology company’s stock worth $406,122,000 after purchasing an additional 1,790,483 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in Medtronic by 1,195.9% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company’s stock worth $144,637,000 after buying an additional 1,695,800 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Medtronic by 58.4% during the third quarter. Janus Henderson Group PLC now owns 3,850,914 shares of the medical technology company’s stock valued at $346,705,000 after buying an additional 1,420,263 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Medtronic by 8,908.6% in the third quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company’s stock worth $116,896,000 after buying an additional 1,284,002 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Performance

Shares of MDT traded down $1.52 on Friday, reaching $81.16. 2,149,798 shares of the stock traded hands, compared to its average volume of 6,563,060. The stock’s 50-day moving average price is $84.17 and its 200-day moving average price is $84.89. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The firm has a market cap of $104.07 billion, a price-to-earnings ratio of 24.82, a P/E/G ratio of 2.33 and a beta of 0.83. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $92.68.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.01. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 EPS. Equities analysts forecast that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.45%. The ex-dividend date is Friday, December 27th. Medtronic’s dividend payout ratio is 85.63%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Citigroup increased their price objective on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Evercore ISI lifted their price target on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Barclays upped their price objective on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $95.00.

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.