Parsons Capital Management Inc. RI decreased its position in shares of Medtronic PLC (NYSE:MDT) by 2.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,439 shares of the medical technology company’s stock after selling 751 shares during the period. Parsons Capital Management Inc. RI’s holdings in Medtronic were worth $3,062,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. Rocky Mountain Advisers LLC increased its position in Medtronic by 100.0% during the second quarter. Rocky Mountain Advisers LLC now owns 400 shares of the medical technology company’s stock valued at $39,000 after acquiring an additional 200 shares during the last quarter. Spectrum Management Group Inc. grew its holdings in shares of Medtronic by 353.8% in the first quarter. Spectrum Management Group Inc. now owns 413 shares of the medical technology company’s stock worth $38,000 after purchasing an additional 322 shares during the last quarter. Mackey Komara & Dankovich LLC bought a new position in shares of Medtronic in the first quarter worth about $38,000. Motco grew its holdings in shares of Medtronic by 159.3% in the first quarter. Motco now owns 516 shares of the medical technology company’s stock worth $47,000 after purchasing an additional 317 shares during the last quarter. Finally, Stuart Chaussee & Associates Inc. bought a new position in shares of Medtronic in the first quarter worth about $48,000. Institutional investors and hedge funds own 80.65% of the company’s stock.
A number of research firms have recently commented on MDT. Northland Securities restated a “hold” rating and issued a $100.00 price target on shares of Medtronic in a report on Thursday, June 20th. Royal Bank of Canada cut their price target on shares of Medtronic to $100.00 and set an “outperform” rating on the stock in a report on Tuesday, May 28th. Zacks Investment Research upgraded shares of Medtronic from a “sell” rating to a “hold” rating in a report on Monday, May 20th. Cowen restated an “outperform” rating and issued a $111.00 price target (up from $99.00) on shares of Medtronic in a report on Wednesday. Finally, Needham & Company LLC restated a “buy” rating on shares of Medtronic in a report on Tuesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $106.41.
NYSE:MDT traded up $0.66 during mid-day trading on Thursday, reaching $101.59. The company’s stock had a trading volume of 153,798 shares, compared to its average volume of 4,206,267. Medtronic PLC has a 1 year low of $81.66 and a 1 year high of $103.95. The business’s fifty day simple moving average is $100.37. The stock has a market capitalization of $135.66 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 2.59 and a beta of 0.67. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.59 and a quick ratio of 2.15.
Medtronic (NYSE:MDT) last released its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.07. Medtronic had a net margin of 15.15% and a return on equity of 14.16%. The company had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.12 billion. During the same period in the prior year, the firm earned $1.42 earnings per share. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, equities analysts forecast that Medtronic PLC will post 5.48 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Monday, July 8th were paid a $0.54 dividend. The ex-dividend date of this dividend was Friday, July 5th. This is a positive change from Medtronic’s previous quarterly dividend of $0.50. This represents a $2.16 dividend on an annualized basis and a yield of 2.13%. Medtronic’s dividend payout ratio is 41.38%.
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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