Northstar Group Inc. Sells 246 Shares of Medtronic PLC (MDT)

Northstar Group Inc. reduced its position in shares of Medtronic PLC (NYSE:MDT) by 4.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,886 shares of the medical technology company’s stock after selling 246 shares during the quarter. Northstar Group Inc.’s holdings in Medtronic were worth $445,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. KMG Fiduciary Partners LLC boosted its holdings in shares of Medtronic by 4.4% in the first quarter. KMG Fiduciary Partners LLC now owns 3,610 shares of the medical technology company’s stock worth $329,000 after buying an additional 152 shares during the last quarter. Toth Financial Advisory Corp lifted its holdings in Medtronic by 3.3% during the first quarter. Toth Financial Advisory Corp now owns 54,087 shares of the medical technology company’s stock valued at $4,926,000 after purchasing an additional 1,719 shares in the last quarter. Raymond James Trust N.A. lifted its holdings in Medtronic by 2.8% during the first quarter. Raymond James Trust N.A. now owns 35,766 shares of the medical technology company’s stock valued at $3,258,000 after purchasing an additional 986 shares in the last quarter. Sciencast Management LP lifted its holdings in Medtronic by 143.8% during the first quarter. Sciencast Management LP now owns 27,549 shares of the medical technology company’s stock valued at $2,450,000 after purchasing an additional 16,249 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its holdings in Medtronic by 0.3% during the first quarter. Retirement Systems of Alabama now owns 624,499 shares of the medical technology company’s stock valued at $56,879,000 after purchasing an additional 1,697 shares in the last quarter. Institutional investors and hedge funds own 81.51% of the company’s stock.

Shares of MDT traded up $0.19 during mid-day trading on Friday, hitting $88.33. 4,239,865 shares of the company traded hands, compared to its average volume of 5,488,053. Medtronic PLC has a 1-year low of $81.66 and a 1-year high of $100.15. The company has a quick ratio of 1.92, a current ratio of 2.36 and a debt-to-equity ratio of 0.47. The company has a market cap of $118.21 billion, a P/E ratio of 18.52, a price-to-earnings-growth ratio of 2.19 and a beta of 0.78.

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

The firm 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. The ex-dividend date was Thursday, March 21st. This represents a $2.00 annualized dividend and a yield of 2.26%. Medtronic’s dividend payout ratio (DPR) is presently 41.93%.

Several research firms have recently issued reports on MDT. Zacks Investment Research cut shares of Medtronic from a “hold” rating to a “sell” rating in a research report on Tuesday, April 30th. Wells Fargo & Co reduced their price objective 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 reiterated a “hold” rating and set a $84.00 price objective on shares of Medtronic in a research report on Monday, March 18th. Citigroup lifted their price objective on shares of Medtronic from $95.00 to $101.00 and gave the company a “neutral” rating in a research report on Monday, February 25th. Finally, Barclays restated a “buy” rating and issued a $104.00 price target on shares of Medtronic in a research report on Wednesday, February 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $103.39.

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About Medtronic

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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