Bryn Mawr Capital Management LLC Acquires 149 Shares of Medtronic PLC (NYSE:MDT)

Bryn Mawr Capital Management LLC raised its position in shares of Medtronic PLC (NYSE:MDT) by 0.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 129,926 shares of the medical technology company’s stock after acquiring an additional 149 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Medtronic were worth $11,675,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in Medtronic by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 124,203,387 shares of the medical technology company’s stock worth $9,921,367,000 after buying an additional 754,395 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Medtronic by 1.8% during the 4th quarter. Capital Research Global Investors now owns 33,203,685 shares of the medical technology company’s stock worth $2,652,310,000 after purchasing an additional 571,700 shares during the period. Geode Capital Management LLC grew its stake in shares of Medtronic by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 27,056,217 shares of the medical technology company’s stock worth $2,155,085,000 after purchasing an additional 574,055 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Medtronic by 7.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 22,278,023 shares of the medical technology company’s stock worth $2,001,903,000 after purchasing an additional 1,461,841 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Medtronic by 3.8% during the 1st quarter. Bank of New York Mellon Corp now owns 20,680,301 shares of the medical technology company’s stock worth $1,858,332,000 after purchasing an additional 756,192 shares during the period. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of MDT stock opened at $89.75 on Tuesday. Medtronic PLC has a 1-year low of $76.68 and a 1-year high of $96.25. The company has a current ratio of 1.85, a quick ratio of 1.42 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $115.10 billion, a price-to-earnings ratio of 24.75, a P/E/G ratio of 2.33 and a beta of 0.80. The stock’s fifty day simple moving average is $85.89 and its 200-day simple moving average is $86.96.

Medtronic (NYSE:MDT) last posted its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.04. The firm had revenue of $8.93 billion during the quarter, compared to analysts’ expectations of $8.81 billion. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.46 earnings per share. On average, sell-side analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were given a dividend of $0.71 per share. The ex-dividend date was Friday, June 27th. This is a positive change from Medtronic’s previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a yield of 3.16%. Medtronic’s dividend payout ratio is 78.45%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MDT shares. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Friday, June 6th. Wall Street Zen raised Medtronic from a “hold” rating to a “buy” rating in a research report on Saturday, June 21st. BTIG Research reissued a “neutral” rating on shares of Medtronic in a research report on Friday. Evercore ISI upped their price target on Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Finally, Truist Financial reduced their price objective on Medtronic from $93.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, April 11th. Eleven analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $97.47.

Medtronic Company 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.