Medtronic plc (NYSE:MDT) Shares Bought by Signature Wealth Management Group

Signature Wealth Management Group lifted its holdings in Medtronic plc (NYSE:MDTGet Rating) by 5.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,977 shares of the medical technology company’s stock after acquiring an additional 894 shares during the period. Signature Wealth Management Group’s holdings in Medtronic were worth $1,524,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in Medtronic during the 4th quarter valued at $1,349,223,000. Vanguard Group Inc. boosted its stake in Medtronic by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 120,557,488 shares of the medical technology company’s stock valued at $13,375,853,000 after acquiring an additional 7,403,778 shares during the last quarter. BlackRock Inc. boosted its stake in Medtronic by 4.7% during the 4th quarter. BlackRock Inc. now owns 107,903,362 shares of the medical technology company’s stock valued at $11,162,603,000 after acquiring an additional 4,883,180 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Medtronic during the 1st quarter valued at $481,525,000. Finally, Invesco Ltd. boosted its stake in Medtronic by 29.6% during the 1st quarter. Invesco Ltd. now owns 12,205,798 shares of the medical technology company’s stock valued at $1,354,234,000 after acquiring an additional 2,789,882 shares during the last quarter. Institutional investors and hedge funds own 79.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on MDT shares. Citigroup reduced their price objective on shares of Medtronic from $120.00 to $117.00 and set a “buy” rating on the stock in a research note on Friday, May 27th. TheStreet downgraded shares of Medtronic from a “b-” rating to a “c+” rating in a research note on Monday, August 1st. Wells Fargo & Company reduced their price target on shares of Medtronic from $104.00 to $96.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 24th. Raymond James downgraded shares of Medtronic from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 24th. Finally, Stifel Nicolaus reduced their price target on shares of Medtronic from $125.00 to $105.00 in a research report on Monday, July 18th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $111.52.

Medtronic Price Performance

Medtronic stock traded down $1.99 during trading hours on Thursday, hitting $83.74. 237,675 shares of the company traded hands, compared to its average volume of 6,415,792. The firm has a market cap of $111.30 billion, a P/E ratio of 21.67, a P/E/G ratio of 2.33 and a beta of 0.75. The company has a quick ratio of 1.23, a current ratio of 1.58 and a debt-to-equity ratio of 0.33. The firm’s 50-day simple moving average is $90.97 and its two-hundred day simple moving average is $97.82. Medtronic plc has a 1-year low of $85.66 and a 1-year high of $131.31.

Medtronic (NYSE:MDTGet Rating) last released its earnings results on Tuesday, August 23rd. The medical technology company reported $1.13 EPS for the quarter, beating the consensus estimate of $1.12 by $0.01. Medtronic had a net margin of 16.75% and a return on equity of 13.64%. During the same quarter in the previous year, the business posted $1.41 EPS. As a group, analysts forecast that Medtronic plc will post 5.53 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 23rd will be paid a $0.68 dividend. The ex-dividend date is Thursday, September 22nd. This represents a $2.72 annualized dividend and a dividend yield of 3.25%. Medtronic’s dividend payout ratio is currently 70.28%.

Medtronic Profile

(Get Rating)

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.

See Also

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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