Daiwa Securities Group Inc. lessened its holdings in shares of Medtronic PLC (NYSE:MDT) by 24.3% in the first quarter, HoldingsChannel reports. The firm owned 79,887 shares of the medical technology company’s stock after selling 25,649 shares during the period. Daiwa Securities Group Inc.’s holdings in Medtronic were worth $7,276,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in MDT. Vanguard Group Inc boosted its holdings in Medtronic by 1.1% during the 3rd quarter. Vanguard Group Inc now owns 109,447,687 shares of the medical technology company’s stock worth $10,766,369,000 after acquiring an additional 1,199,118 shares during the last quarter. BlackRock Inc. boosted its holdings in Medtronic by 1.5% during the 4th quarter. BlackRock Inc. now owns 98,921,138 shares of the medical technology company’s stock worth $8,997,868,000 after acquiring an additional 1,487,997 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Medtronic by 1.3% during the 4th quarter. Bank of New York Mellon Corp now owns 17,225,948 shares of the medical technology company’s stock worth $1,566,873,000 after acquiring an additional 213,593 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Medtronic by 10.2% during the 4th 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 last quarter. Finally, Northern Trust Corp boosted its holdings in Medtronic by 4.3% during the 4th quarter. Northern Trust Corp now owns 16,526,215 shares of the medical technology company’s stock worth $1,503,225,000 after acquiring an additional 688,537 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.
A number of equities analysts have issued reports on MDT shares. 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. Wells Fargo & Co cut their price objective on shares of Medtronic from $101.00 to $100.00 and set a “market perform” rating on the stock in a report on Thursday, April 4th. ValuEngine downgraded shares of Medtronic from a “buy” rating to a “hold” rating in a report on Monday, January 7th. 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. Finally, Barclays cut their price objective on shares of Medtronic from $113.00 to $104.00 and set an “overweight” rating on the stock in a report on Tuesday, January 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $103.39.
Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, February 19th. The medical technology company reported $1.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.05. The company had revenue of $7.55 billion for 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 quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.17 EPS. On average, analysts expect that Medtronic PLC will post 5.15 EPS for the current year.
The business 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 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date was Thursday, March 21st. Medtronic’s dividend payout ratio (DPR) is currently 41.93%.
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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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