Centre Asset Management LLC grew its position in Medtronic PLC (NYSE:MDT) by 3.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 106,530 shares of the medical technology company’s stock after purchasing an additional 3,740 shares during the period. Medtronic comprises about 2.5% of Centre Asset Management LLC’s portfolio, making the stock its 8th largest position. Centre Asset Management LLC’s holdings in Medtronic were worth $9,703,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Oregon Public Employees Retirement Fund raised its holdings in shares of Medtronic by 8,884.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 13,286,072 shares of the medical technology company’s stock worth $146,000 after acquiring an additional 13,138,192 shares during the period. Norges Bank acquired a new stake in shares of Medtronic during the fourth quarter worth $1,120,279,000. Nordea Investment Management AB acquired a new stake in shares of Medtronic during the third quarter worth $738,453,000. American Century Companies Inc. raised its holdings in shares of Medtronic by 23.0% during the fourth quarter. American Century Companies Inc. now owns 9,746,733 shares of the medical technology company’s stock worth $886,563,000 after acquiring an additional 1,821,093 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Medtronic by 10.2% during the fourth quarter. Geode Capital Management LLC now owns 16,690,207 shares of the medical technology company’s stock worth $1,515,557,000 after acquiring an additional 1,538,130 shares during the period. Institutional investors own 81.50% of the company’s stock.
A number of equities research analysts recently commented on the stock. Citigroup raised 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 restated a “buy” rating and set a $104.00 price objective on shares of Medtronic in a report on Wednesday, February 20th. Northland Securities restated a “hold” rating and set a $84.00 price objective on shares of Medtronic in a report on Monday, March 18th. Oppenheimer set a $104.00 price objective on shares of Medtronic and gave the stock a “buy” rating in a report on Wednesday, February 20th. Finally, Needham & Company LLC restated a “strong-buy” rating and set a $117.00 price objective (down from $120.00) on shares of Medtronic in a report on Monday, February 4th. Ten analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $103.39.
Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 19th. The medical technology company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.05. The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.53 billion. Medtronic had a net margin of 16.10% and a return on equity of 13.85%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.17 earnings per share. On average, research analysts anticipate that Medtronic PLC will post 5.15 earnings per share 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 given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend was Thursday, March 21st. Medtronic’s dividend payout ratio (DPR) is currently 41.93%.
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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