Wade G W & Inc. Has $13.42 Million Position in Medtronic plc (NYSE:MDT)

Wade G W & Inc. increased its holdings in shares of Medtronic plc (NYSE:MDT) by 3.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 113,567 shares of the medical technology company’s stock after acquiring an additional 3,333 shares during the period. Wade G W & Inc.’s holdings in Medtronic were worth $13,416,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in Medtronic in the fourth quarter valued at about $1,733,123,000. Price T Rowe Associates Inc. MD boosted its position in Medtronic by 16.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,540,276 shares of the medical technology company’s stock valued at $2,406,046,000 after buying an additional 2,880,467 shares in the last quarter. Nuveen Asset Management LLC boosted its position in Medtronic by 25.0% in the fourth quarter. Nuveen Asset Management LLC now owns 9,536,420 shares of the medical technology company’s stock valued at $1,117,096,000 after buying an additional 1,909,418 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Medtronic by 8.4% in the fourth quarter. Bank of New York Mellon Corp now owns 19,625,466 shares of the medical technology company’s stock valued at $2,298,927,000 after buying an additional 1,527,582 shares in the last quarter. Finally, Morgan Stanley boosted its position in Medtronic by 11.8% in the fourth quarter. Morgan Stanley now owns 11,560,485 shares of the medical technology company’s stock valued at $1,354,194,000 after buying an additional 1,221,333 shares in the last quarter. Institutional investors and hedge funds own 79.17% of the company’s stock.

NYSE:MDT traded up $0.28 during trading hours on Monday, hitting $125.55. The stock had a trading volume of 12,685 shares, compared to its average volume of 4,551,771. Medtronic plc has a one year low of $87.68 and a one year high of $132.30. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.79 and a current ratio of 2.16. The company has a market cap of $169.25 billion, a price-to-earnings ratio of 47.81, a P/E/G ratio of 3.65 and a beta of 0.70. The business’s 50 day moving average is $124.80 and its 200-day moving average is $117.07.

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

The company also recently announced a quarterly dividend, which was paid on Friday, April 16th. Shareholders of record on Friday, March 26th were paid a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 1.85%. The ex-dividend date was Thursday, March 25th. Medtronic’s payout ratio is presently 50.54%.

A number of research firms have commented on MDT. Credit Suisse Group boosted their price target on shares of Medtronic from $126.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, March 3rd. Atlantic Securities began coverage on shares of Medtronic in a research report on Wednesday, April 21st. They issued an “overweight” rating and a $153.00 price target on the stock. Raymond James boosted their price target on shares of Medtronic from $122.00 to $128.00 and gave the company an “outperform” rating in a research report on Wednesday, March 3rd. Cowen boosted their target price on shares of Medtronic from $120.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 24th. Finally, Stifel Nicolaus boosted their target price on shares of Medtronic from $132.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, March 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Medtronic presently has a consensus rating of “Buy” and a consensus price target of $125.54.

Medtronic Company Profile

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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