ICW Investment Advisors LLC grew its holdings in Medtronic PLC (NYSE:MDT) by 5.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,685 shares of the medical technology company’s stock after purchasing an additional 588 shares during the quarter. ICW Investment Advisors LLC’s holdings in Medtronic were worth $1,054,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the company. Private Advisor Group LLC raised its holdings in shares of Medtronic by 15.8% in the 1st quarter. Private Advisor Group LLC now owns 37,427 shares of the medical technology company’s stock valued at $3,375,000 after purchasing an additional 5,107 shares in the last quarter. Cidel Asset Management Inc. raised its holdings in shares of Medtronic by 0.7% in the 1st quarter. Cidel Asset Management Inc. now owns 227,695 shares of the medical technology company’s stock valued at $20,534,000 after purchasing an additional 1,522 shares in the last quarter. Nuance Investments LLC bought a new stake in shares of Medtronic in the 1st quarter valued at about $610,000. Van ECK Associates Corp raised its holdings in shares of Medtronic by 1.3% in the 1st quarter. Van ECK Associates Corp now owns 818,845 shares of the medical technology company’s stock valued at $73,843,000 after purchasing an additional 10,557 shares in the last quarter. Finally, Meristem Family Wealth LLC raised its holdings in shares of Medtronic by 4.7% in the 1st quarter. Meristem Family Wealth LLC now owns 3,796 shares of the medical technology company’s stock valued at $342,000 after purchasing an additional 170 shares in the last quarter. Institutional investors and hedge funds own 81.14% of the company’s stock.
Several equities research analysts have recently commented on MDT shares. SVB Leerink boosted their price target on shares of Medtronic from $100.00 to $105.00 and gave the company a “market perform” rating in a report on Tuesday, April 28th. BTIG Research reduced their price objective on shares of Medtronic from $124.00 to $102.00 and set a “buy” rating for the company in a research note on Monday, March 30th. Raymond James reduced their price objective on shares of Medtronic from $110.00 to $107.00 and set an “outperform” rating for the company in a research note on Friday, May 22nd. DZ Bank lowered shares of Medtronic from a “buy” rating to a “hold” rating and set a $92.00 price objective for the company. in a research note on Thursday, May 14th. Finally, Bank of America reiterated a “buy” rating and set a $130.00 price objective on shares of Medtronic in a research note on Friday, May 22nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. Medtronic currently has an average rating of “Buy” and a consensus price target of $114.53.
Medtronic (NYSE:MDT) last released its quarterly earnings data on Thursday, May 21st. The medical technology company reported $0.58 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.70). The business had revenue of $6 billion during the quarter, compared to analysts’ expectations of $6.10 billion. Medtronic had a net margin of 16.56% and a return on equity of 12.17%. The firm’s revenue was down 26.4% on a year-over-year basis. During the same period last year, the company earned $1.54 earnings per share. As a group, analysts anticipate that Medtronic PLC will post 3.51 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be issued a $0.58 dividend. This is an increase from Medtronic’s previous quarterly dividend of $0.54. This represents a $2.32 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Thursday, June 25th. Medtronic’s dividend payout ratio is 47.06%.
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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