Colrain Capital LLC Increases Stake in Medtronic PLC $MDT

Colrain Capital LLC boosted its stake in Medtronic PLC (NYSE:MDT) by 43.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 50,595 shares of the medical technology company’s stock after purchasing an additional 15,355 shares during the quarter. Medtronic comprises 2.8% of Colrain Capital LLC’s portfolio, making the stock its 19th largest position. Colrain Capital LLC’s holdings in Medtronic were worth $4,855,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AXQ Capital LP lifted its holdings in Medtronic by 25.6% in the 2nd quarter. AXQ Capital LP now owns 9,890 shares of the medical technology company’s stock worth $862,000 after buying an additional 2,013 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Medtronic by 65.8% during the third quarter. UMB Bank n.a. now owns 138,278 shares of the medical technology company’s stock valued at $13,170,000 after acquiring an additional 54,898 shares in the last quarter. Applied Finance Capital Management LLC purchased a new stake in shares of Medtronic during the third quarter worth about $1,308,000. Principal Financial Group Inc. lifted its stake in shares of Medtronic by 17.2% in the third quarter. Principal Financial Group Inc. now owns 1,656,155 shares of the medical technology company’s stock worth $157,732,000 after acquiring an additional 242,910 shares in the last quarter. Finally, Willis Investment Counsel boosted its holdings in Medtronic by 5.0% in the third quarter. Willis Investment Counsel now owns 401,868 shares of the medical technology company’s stock valued at $38,274,000 after purchasing an additional 19,192 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Down 1.3%

MDT stock opened at $99.57 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.42 and a quick ratio of 1.80. Medtronic PLC has a 1-year low of $79.55 and a 1-year high of $106.33. The firm has a fifty day moving average price of $99.25 and a two-hundred day moving average price of $96.53. The firm has a market cap of $127.65 billion, a price-to-earnings ratio of 26.84, a PEG ratio of 2.62 and a beta of 0.71.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.05. Medtronic had a net margin of 13.71% and a return on equity of 14.86%. The company had revenue of $8.96 billion for the quarter, compared to the consensus estimate of $8.86 billion. During the same period last year, the firm posted $1.26 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. Research analysts predict that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, December 26th were issued a $0.71 dividend. The ex-dividend date of this dividend was Friday, December 26th. This represents a $2.84 dividend on an annualized basis and a yield of 2.9%. Medtronic’s dividend payout ratio (DPR) is currently 76.55%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Medtronic in a report on Monday, December 29th. Leerink Partners set a $120.00 price target on shares of Medtronic and gave the stock an “outperform” rating in a research note on Wednesday, November 19th. William Blair upgraded shares of Medtronic from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 6th. CICC Research initiated coverage on shares of Medtronic in a report on Friday, January 30th. They set an “outperform” rating for the company. Finally, Barclays assumed coverage on shares of Medtronic in a research note on Friday. They issued an “overweight” rating and a $116.00 target price on the stock. Sixteen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, Medtronic presently has an average rating of “Moderate Buy” and an average price target of $111.21.

Medtronic Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).