Medtronic PLC (MDT) Position Increased by HRT Financial LLC

HRT Financial LLC increased its holdings in shares of Medtronic PLC (NYSE:MDT) by 79.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,744 shares of the medical technology company’s stock after buying an additional 1,662 shares during the quarter. HRT Financial LLC’s holdings in Medtronic were worth $340,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Bank of New York Mellon Corp increased its position in Medtronic by 89,912.5% in the third quarter. Bank of New York Mellon Corp now owns 17,012,355 shares of the medical technology company’s stock worth $1,673,505,000 after purchasing an additional 16,993,455 shares during the period. GAM Holding AG grew its position in shares of Medtronic by 104.9% in the 3rd quarter. GAM Holding AG now owns 145,938 shares of the medical technology company’s stock valued at $14,356,000 after purchasing an additional 74,715 shares during the period. Honkamp Krueger Financial Services Inc. lifted its stake in Medtronic by 26.3% in the 3rd quarter. Honkamp Krueger Financial Services Inc. now owns 5,135 shares of the medical technology company’s stock valued at $505,000 after acquiring an additional 1,069 shares in the last quarter. Kornitzer Capital Management Inc. KS lifted its stake in Medtronic by 1.4% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 65,960 shares of the medical technology company’s stock valued at $6,488,000 after acquiring an additional 925 shares in the last quarter. Finally, Kepos Capital LP lifted its stake in Medtronic by 76.0% in the 3rd quarter. Kepos Capital LP now owns 66,530 shares of the medical technology company’s stock valued at $6,545,000 after acquiring an additional 28,720 shares in the last quarter. Institutional investors and hedge funds own 81.50% of the company’s stock.

A number of equities research analysts have recently issued reports on the company. Morgan Stanley upped their price objective on Medtronic from $98.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 2nd. JPMorgan Chase & Co. raised Medtronic from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $100.00 to $109.00 in a report on Wednesday, December 19th. Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $117.00 price objective (down from $120.00) on shares of Medtronic in a report on Monday, February 4th. Northland Securities restated a “hold” rating and set a $84.00 price objective on shares of Medtronic in a research report on Monday, March 18th. Finally, Credit Suisse Group initiated coverage on Medtronic in a research report on Monday, December 17th. They set an “outperform” rating and a $109.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $103.39.

Shares of MDT traded up $0.12 during mid-day trading on Monday, reaching $86.87. 5,815,800 shares of the company were exchanged, compared to its average volume of 5,969,145. Medtronic PLC has a 52 week low of $78.29 and a 52 week high of $100.15. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.36 and a quick ratio of 1.92. The company has a market capitalization of $116.69 billion, a price-to-earnings ratio of 18.21, a price-to-earnings-growth ratio of 2.28 and a beta of 0.81.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 19th. The medical technology company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.24 by $0.05. Medtronic had a return on equity of 13.85% and a net margin of 16.10%. The business had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.53 billion. During the same quarter last year, the firm posted $1.17 earnings per share. The firm’s revenue was up 2.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Medtronic PLC will post 5.15 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were paid a dividend of $0.50 per share. The ex-dividend date was Thursday, March 21st. This represents a $2.00 annualized dividend and a yield of 2.30%. Medtronic’s dividend payout ratio is currently 41.93%.

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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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