CHICAGO TRUST Co NA Purchases 166 Shares of Medtronic plc (NYSE:MDT)

CHICAGO TRUST Co NA boosted its position in Medtronic plc (NYSE:MDT) by 1.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 10,682 shares of the medical technology company’s stock after acquiring an additional 166 shares during the period. CHICAGO TRUST Co NA’s holdings in Medtronic were worth $960,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MDT. Norges Bank purchased a new position in Medtronic during the 4th quarter valued at about $1,163,580,000. Raymond James Financial Inc. purchased a new position in Medtronic during the fourth quarter valued at approximately $852,732,000. Beutel Goodman & Co Ltd. purchased a new position in Medtronic during the fourth quarter valued at approximately $377,169,000. Van ECK Associates Corp grew its stake in Medtronic by 2,043.4% during the fourth quarter. Van ECK Associates Corp now owns 2,598,150 shares of the medical technology company’s stock valued at $207,540,000 after acquiring an additional 2,476,935 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Medtronic by 17.8% during the fourth quarter. Invesco Ltd. now owns 15,445,284 shares of the medical technology company’s stock valued at $1,233,769,000 after acquiring an additional 2,333,600 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MDT shares. Royal Bank of Canada reduced their price objective on shares of Medtronic from $105.00 to $101.00 and set an “outperform” rating for the company in a research note on Thursday, May 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Friday. Wall Street Zen cut shares of Medtronic from a “buy” rating to a “hold” rating in a research note on Saturday, May 24th. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Finally, Robert W. Baird reduced their price objective on shares of Medtronic from $94.00 to $92.00 and set a “neutral” rating for the company in a research note on Thursday, May 22nd. Nine investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Medtronic currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.00.

Medtronic Trading Up 0.4%

Shares of Medtronic stock opened at $87.38 on Monday. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25. The firm has a market cap of $112.07 billion, a PE ratio of 26.56, a PEG ratio of 2.22 and a beta of 0.79. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The company has a 50 day simple moving average of $83.92 and a two-hundred day simple moving average of $86.19.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.04. The firm had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.81 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.46 EPS. Analysts expect that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.25%. This is a positive change from Medtronic’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, June 27th. Medtronic’s payout ratio is presently 78.45%.

Medtronic Profile

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.