JustInvest LLC Buys 6,283 Shares of Medtronic plc (NYSE:MDT)


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JustInvest LLC grew its stake in Medtronic plc (NYSE:MDT) by 58.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,038 shares of the medical technology company’s stock after purchasing an additional 6,283 shares during the period. JustInvest LLC’s holdings in Medtronic were worth $2,013,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MDT. Sei Investments Co. lifted its stake in shares of Medtronic by 3.3% during the 3rd quarter. Sei Investments Co. now owns 892,078 shares of the medical technology company’s stock worth $92,645,000 after acquiring an additional 28,557 shares during the last quarter. Private Trust Co. NA lifted its stake in shares of Medtronic by 2.4% during the 4th quarter. Private Trust Co. NA now owns 17,521 shares of the medical technology company’s stock worth $2,052,000 after acquiring an additional 411 shares during the last quarter. First American Bank lifted its stake in shares of Medtronic by 1.5% during the 4th quarter. First American Bank now owns 59,735 shares of the medical technology company’s stock worth $6,997,000 after acquiring an additional 877 shares during the last quarter. Woodstock Corp lifted its stake in shares of Medtronic by 0.8% during the 4th quarter. Woodstock Corp now owns 128,243 shares of the medical technology company’s stock worth $15,022,000 after acquiring an additional 1,034 shares during the last quarter. Finally, Summit Financial Group Inc. lifted its stake in shares of Medtronic by 3.6% during the 4th quarter. Summit Financial Group Inc. now owns 3,615 shares of the medical technology company’s stock worth $423,000 after acquiring an additional 125 shares during the last quarter. 79.17% of the stock is owned by institutional investors and hedge funds.

Shares of MDT stock traded down $2.27 on Tuesday, hitting $128.93. The company had a trading volume of 55,245 shares, compared to its average volume of 4,630,556. The firm has a market cap of $173.81 billion, a P/E ratio of 49.84, a price-to-earnings-growth ratio of 3.65 and a beta of 0.70. The company has a 50-day moving average price of $122.77 and a 200-day moving average price of $116.16. The company has a quick ratio of 1.79, a current ratio of 2.16 and a debt-to-equity ratio of 0.52. Medtronic plc has a twelve month low of $87.68 and a twelve month high of $132.30.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 23rd. The medical technology company reported $1.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.14. The business had revenue of $7.78 billion during the quarter, compared to analysts’ expectations of $7.77 billion. Medtronic had a return on equity of 9.71% and a net margin of 12.69%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.44 EPS. Equities research analysts expect that Medtronic plc will post 4.21 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 16th. Investors of record on Friday, March 26th were paid a $0.58 dividend. The ex-dividend date of this dividend was Thursday, March 25th. This represents a $2.32 annualized dividend and a dividend yield of 1.80%. Medtronic’s dividend payout ratio is presently 50.54%.

Several research firms have commented on MDT. Raymond James raised their price objective on Medtronic from $122.00 to $128.00 and gave the stock an “outperform” rating in a report on Wednesday, March 3rd. Credit Suisse Group lifted their price target on Medtronic from $126.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, March 3rd. Cowen lifted their price target on Medtronic from $120.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, February 24th. Atlantic Securities assumed coverage on Medtronic in a report on Wednesday, April 21st. They issued an “overweight” rating and a $153.00 price target on the stock. Finally, SVB Leerink lifted their price target on Medtronic from $123.00 to $129.00 and gave the company a “market perform” rating in a report on Tuesday, March 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Medtronic has an average rating of “Buy” and a consensus price target of $124.30.

About Medtronic

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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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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