Baird Financial Group Inc. Grows Stock Position in Medtronic plc (NYSE:MDT)

Baird Financial Group Inc. grew its holdings in shares of Medtronic plc (NYSE:MDTGet Rating) by 4.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 810,618 shares of the medical technology company’s stock after purchasing an additional 36,436 shares during the quarter. Baird Financial Group Inc. owned approximately 0.06% of Medtronic worth $89,939,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Medtronic by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 120,557,488 shares of the medical technology company’s stock valued at $13,375,853,000 after purchasing an additional 7,403,778 shares during the last quarter. Brighton Jones LLC increased its position in shares of Medtronic by 3.5% during the 1st quarter. Brighton Jones LLC now owns 8,450 shares of the medical technology company’s stock valued at $938,000 after purchasing an additional 287 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in Medtronic by 14.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 93,668 shares of the medical technology company’s stock worth $10,392,000 after acquiring an additional 11,735 shares in the last quarter. Dakota Wealth Management increased its holdings in Medtronic by 167.6% in the 1st quarter. Dakota Wealth Management now owns 6,211 shares of the medical technology company’s stock worth $690,000 after acquiring an additional 3,890 shares in the last quarter. Finally, Bank of Hawaii increased its holdings in Medtronic by 51.0% in the 1st quarter. Bank of Hawaii now owns 9,616 shares of the medical technology company’s stock worth $1,067,000 after acquiring an additional 3,247 shares in the last quarter. Hedge funds and other institutional investors own 79.81% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Morgan Stanley reduced their target price on shares of Medtronic from $103.00 to $101.00 and set an “equal weight” rating for the company in a report on Wednesday, August 24th. Wells Fargo & Company reduced their target price on shares of Medtronic from $104.00 to $96.00 and set an “equal weight” rating for the company in a report on Wednesday, August 24th. Sanford C. Bernstein reissued a “buy” rating and issued a $122.00 target price on shares of Medtronic in a report on Friday, May 20th. Citigroup reduced their target price on shares of Medtronic from $120.00 to $117.00 and set a “buy” rating for the company in a report on Friday, May 27th. Finally, StockNews.com lowered shares of Medtronic from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 24th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Medtronic has a consensus rating of “Hold” and a consensus price target of $111.52.

Medtronic Stock Up 0.9 %

NYSE MDT opened at $87.89 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.23 and a current ratio of 1.58. The company has a market capitalization of $116.82 billion, a P/E ratio of 22.71, a P/E/G ratio of 2.30 and a beta of 0.75. Medtronic plc has a one year low of $85.66 and a one year high of $135.89. The stock has a 50 day moving average price of $90.97 and a 200-day moving average price of $98.79.

Medtronic (NYSE:MDTGet Rating) last posted its earnings results on Tuesday, August 23rd. The medical technology company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.01. Medtronic had a return on equity of 13.64% and a net margin of 16.75%. During the same quarter in the prior year, the company posted $1.41 earnings per share. As a group, equities analysts predict that Medtronic plc will post 5.53 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 23rd will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Thursday, September 22nd. This represents a $2.72 annualized dividend and a yield of 3.09%. Medtronic’s payout ratio is presently 70.28%.

Medtronic Profile

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Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; 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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