Bank OZK Has $1.30 Million Stake in Medtronic PLC $MDT

Bank OZK decreased its stake in Medtronic PLC (NYSE:MDT) by 3.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,512 shares of the medical technology company’s stock after selling 507 shares during the quarter. Bank OZK’s holdings in Medtronic were worth $1,304,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Boston Partners raised its position in shares of Medtronic by 122.8% during the first quarter. Boston Partners now owns 6,912,055 shares of the medical technology company’s stock worth $619,460,000 after purchasing an additional 3,809,450 shares during the period. Nuveen LLC acquired a new stake in shares of Medtronic during the first quarter worth about $260,649,000. Burgundy Asset Management Ltd. acquired a new stake in shares of Medtronic during the fourth quarter worth about $174,329,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Medtronic during the fourth quarter worth about $139,869,000. Finally, Mackenzie Financial Corp raised its position in shares of Medtronic by 220.9% during the first quarter. Mackenzie Financial Corp now owns 2,412,115 shares of the medical technology company’s stock worth $216,753,000 after purchasing an additional 1,660,357 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of NYSE MDT opened at $92.74 on Tuesday. The company has a current ratio of 1.85, a quick ratio of 1.42 and a debt-to-equity ratio of 0.53. Medtronic PLC has a 12 month low of $79.29 and a 12 month high of $96.25. The stock has a 50 day moving average of $89.43 and a 200-day moving average of $87.97. The company has a market capitalization of $118.87 billion, a P/E ratio of 25.62, a P/E/G ratio of 2.42 and a beta of 0.80.

Medtronic (NYSE:MDT) last issued its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.58 by $0.04. The company had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.81 billion. Medtronic had a return on equity of 14.54% and a net margin of 13.90%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.46 EPS. As a group, equities research analysts predict that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, September 26th. This represents a $2.84 annualized dividend and a yield of 3.1%. Medtronic’s dividend payout ratio (DPR) is presently 78.45%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on MDT shares. Robert W. Baird dropped their price target on Medtronic from $94.00 to $92.00 and set a “neutral” rating on the stock in a research report on Thursday, May 22nd. BTIG Research reiterated a “neutral” rating on shares of Medtronic in a report on Friday, July 11th. Leerink Partners assumed coverage on Medtronic in a report on Monday, June 16th. They set an “outperform” rating and a $110.00 price objective for the company. Citigroup increased their price objective on Medtronic from $98.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Finally, Leerink Partnrs upgraded Medtronic to a “strong-buy” rating in a report on Monday, June 16th. Twelve investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $98.19.

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.