Cahill Financial Advisors Inc. Purchases New Position in Medtronic PLC (NYSE:MDT)

Cahill Financial Advisors Inc. acquired a new position in shares of Medtronic PLC (NYSE:MDT) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,173 shares of the medical technology company’s stock, valued at approximately $380,000.

Other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its holdings in shares of Medtronic by 89,912.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 17,012,355 shares of the medical technology company’s stock valued at $1,673,505,000 after buying an additional 16,993,455 shares in the last quarter. Gideon Capital Advisors Inc. purchased a new position in Medtronic during the 3rd quarter valued at about $409,000. Virtu Financial LLC increased its holdings in Medtronic by 98.2% during the 3rd quarter. Virtu Financial LLC now owns 14,165 shares of the medical technology company’s stock valued at $1,393,000 after acquiring an additional 7,019 shares in the last quarter. Baird Financial Group Inc. increased its holdings in Medtronic by 3.3% during the 3rd quarter. Baird Financial Group Inc. now owns 226,386 shares of the medical technology company’s stock valued at $22,523,000 after acquiring an additional 7,307 shares in the last quarter. Finally, GSA Capital Partners LLP increased its holdings in Medtronic by 22.8% during the 3rd quarter. GSA Capital Partners LLP now owns 37,933 shares of the medical technology company’s stock valued at $3,731,000 after acquiring an additional 7,045 shares in the last quarter. Hedge funds and other institutional investors own 81.50% of the company’s stock.

Shares of MDT stock traded down $0.51 during trading hours on Friday, hitting $84.22. 6,798,040 shares of the company’s stock were exchanged, compared to its average volume of 5,866,949. The stock has a market capitalization of $112.95 billion, a PE ratio of 17.66, a PEG ratio of 2.21 and a beta of 0.81. 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 quick ratio of 1.92 and a current ratio of 2.36.

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

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.37%. The ex-dividend date was Thursday, March 21st. Medtronic’s dividend payout ratio is 41.93%.

MDT has been the topic of several research analyst reports. Wells Fargo & Co decreased their target price on shares of Medtronic from $101.00 to $100.00 and set a “market perform” rating on the stock in a research report on Thursday, April 4th. Northland Securities restated a “hold” rating and issued a $84.00 price target on shares of Medtronic in a research note on Monday, March 18th. Citigroup lifted their price objective on shares of Medtronic from $95.00 to $101.00 and gave the stock a “neutral” rating in a report on Monday, February 25th. Barclays reissued a “buy” rating and issued a $104.00 price target on shares of Medtronic in a research note on Wednesday, February 20th. Finally, Oppenheimer set a $104.00 target price on Medtronic and gave the stock a “buy” rating in a research report on Wednesday, February 20th. Ten analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Medtronic currently has an average rating of “Buy” and an average price target of $103.39.

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Medtronic 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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