BLB&B Advisors LLC reduced its stake in Medtronic plc (NYSE:MDT) by 8.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,896 shares of the medical technology company’s stock after selling 660 shares during the period. BLB&B Advisors LLC’s holdings in Medtronic were worth $815,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of MDT. Meridian Wealth Management LLC grew its holdings in shares of Medtronic by 34.1% during the fourth quarter. Meridian Wealth Management LLC now owns 3,566 shares of the medical technology company’s stock valued at $417,000 after buying an additional 906 shares during the last quarter. Toth Financial Advisory Corp grew its holdings in shares of Medtronic by 2.0% during the fourth quarter. Toth Financial Advisory Corp now owns 63,711 shares of the medical technology company’s stock valued at $7,463,000 after buying an additional 1,241 shares during the last quarter. Synovus Financial Corp grew its holdings in shares of Medtronic by 19.3% during the fourth quarter. Synovus Financial Corp now owns 32,462 shares of the medical technology company’s stock valued at $3,805,000 after buying an additional 5,241 shares during the last quarter. RNC Capital Management LLC acquired a new position in shares of Medtronic during the fourth quarter valued at about $2,249,000. Finally, Captrust Financial Advisors grew its holdings in shares of Medtronic by 13.2% during the fourth quarter. Captrust Financial Advisors now owns 321,954 shares of the medical technology company’s stock valued at $37,899,000 after buying an additional 37,518 shares during the last quarter. 79.17% of the stock is owned by hedge funds and other institutional investors.

Medtronic stock opened at $128.28 on Wednesday. The firm’s 50 day simple moving average is $119.45 and its 200 day simple moving average is $114.58. The company has a current ratio of 2.16, a quick ratio of 1.79 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $172.93 billion, a PE ratio of 48.96, a price-to-earnings-growth ratio of 3.65 and a beta of 0.70. Medtronic plc has a 1-year low of $87.68 and a 1-year high of $128.42.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 23rd. The medical technology company reported $1.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.14. The business had revenue of $7.78 billion for the quarter, compared to analyst estimates of $7.77 billion. Medtronic had a net margin of 12.69% and a return on equity of 9.71%. Medtronic’s revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.44 EPS. Research analysts forecast that Medtronic plc will post 4.21 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, April 16th. Shareholders of record on Friday, March 26th were paid a $0.58 dividend. The ex-dividend date was Thursday, March 25th. This represents a $2.32 dividend on an annualized basis and a yield of 1.81%. Medtronic’s dividend payout ratio is presently 50.54%.

A number of research analysts have recently issued reports on MDT shares. Credit Suisse Group lifted their price objective on shares of Medtronic from $126.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, March 3rd. Stifel Nicolaus boosted their price target on shares of Medtronic from $132.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, March 2nd. Cowen boosted their price target on shares of Medtronic from $120.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, February 24th. Atlantic Securities initiated coverage on shares of Medtronic in a report on Thursday, April 15th. They set an “overweight” rating and a $153.00 price target on the stock. Finally, SVB Leerink boosted their price target on shares of Medtronic from $123.00 to $129.00 and gave the stock a “market perform” rating in a report on Tuesday, March 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Medtronic currently has an average rating of “Buy” and an average target price of $123.86.

Medtronic Company Profile

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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