Advisors Management Group Inc. ADV Boosts Holdings in Medtronic plc (NYSE:MDT)

Advisors Management Group Inc. ADV raised its position in Medtronic plc (NYSE:MDTGet Rating) by 6.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,610 shares of the medical technology company’s stock after acquiring an additional 229 shares during the quarter. Advisors Management Group Inc. ADV’s holdings in Medtronic were worth $401,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Medtronic during the 4th quarter worth approximately $1,349,223,000. BlackRock Inc. lifted its position in shares of Medtronic by 4.7% during the 4th quarter. BlackRock Inc. now owns 107,903,362 shares of the medical technology company’s stock worth $11,162,603,000 after buying an additional 4,883,180 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Medtronic by 680.7% during the 4th quarter. Renaissance Technologies LLC now owns 3,574,541 shares of the medical technology company’s stock worth $369,786,000 after buying an additional 3,116,700 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Medtronic by 25.8% during the 4th quarter. Nordea Investment Management AB now owns 9,829,594 shares of the medical technology company’s stock worth $1,026,996,000 after buying an additional 2,014,401 shares during the last quarter. Finally, Capital Research Global Investors lifted its position in shares of Medtronic by 10.6% during the 4th quarter. Capital Research Global Investors now owns 20,618,348 shares of the medical technology company’s stock worth $2,132,968,000 after buying an additional 1,974,556 shares during the last quarter. Institutional investors own 80.23% of the company’s stock.

Medtronic stock opened at $90.42 on Thursday. Medtronic plc has a 52 week low of $86.95 and a 52 week high of $135.89. The company has a quick ratio of 1.49, a current ratio of 1.86 and a debt-to-equity ratio of 0.39. The firm’s 50-day simple moving average is $98.72 and its 200 day simple moving average is $103.61. The firm has a market capitalization of $121.30 billion, a PE ratio of 24.24, a P/E/G ratio of 2.31 and a beta of 0.74.

Medtronic (NYSE:MDTGet Rating) last released its earnings results on Thursday, May 26th. The medical technology company reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.04). The firm had revenue of $8.09 billion during the quarter, compared to analysts’ expectations of $8.43 billion. Medtronic had a net margin of 15.90% and a return on equity of 14.50%. Medtronic’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the company posted $1.50 earnings per share. On average, research analysts expect that Medtronic plc will post 5.56 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Friday, June 24th will be paid a dividend of $0.68 per share. The ex-dividend date is Thursday, June 23rd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 3.01%. This is an increase from Medtronic’s previous quarterly dividend of $0.63. Medtronic’s dividend payout ratio is currently 72.92%.

A number of equities analysts have recently commented on MDT shares. Piper Sandler cut their target price on shares of Medtronic from $105.00 to $100.00 and set a “neutral” rating on the stock in a report on Thursday, May 26th. Morgan Stanley cut their target price on shares of Medtronic from $115.00 to $114.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 7th. Needham & Company LLC cut shares of Medtronic from a “buy” rating to a “hold” rating in a report on Friday, May 27th. Citigroup cut their target price on shares of Medtronic from $120.00 to $117.00 and set a “buy” rating on the stock in a report on Friday, May 27th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Medtronic from $149.00 to $121.00 in a research note on Friday, May 27th. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $121.55.

Medtronic Profile (Get Rating)

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiovascular Portfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit. The Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; AF ablation products; insertable cardiac monitor systems; mechanical circulatory support; TYRX products; and remote monitoring and patient-centered software.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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