O Brien Greene & Co. Inc increased its holdings in shares of Medtronic plc (NYSE:MDT – Get Rating) by 4.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 54,265 shares of the medical technology company’s stock after acquiring an additional 2,153 shares during the period. Medtronic comprises 2.0% of O Brien Greene & Co. Inc’s portfolio, making the stock its 19th biggest position. O Brien Greene & Co. Inc’s holdings in Medtronic were worth $6,021,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of MDT. Norges Bank bought a new stake in shares of Medtronic during the 4th quarter worth approximately $1,349,223,000. Vanguard Group Inc. increased its holdings in Medtronic by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 120,557,488 shares of the medical technology company’s stock worth $13,375,853,000 after purchasing an additional 7,403,778 shares during the period. BlackRock Inc. increased its holdings in 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 purchasing an additional 4,883,180 shares during the period. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Medtronic during the 1st quarter worth $481,525,000. Finally, Renaissance Technologies LLC increased its holdings in 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 purchasing an additional 3,116,700 shares during the period. 79.81% of the stock is owned by institutional investors.
Analysts Set New Price Targets
MDT has been the topic of several research reports. StockNews.com downgraded Medtronic from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 24th. Sanford C. Bernstein restated a “buy” rating and set a $122.00 price objective on shares of Medtronic in a report on Friday, May 20th. Wolfe Research assumed coverage on Medtronic in a report on Tuesday, July 5th. They set an “underperform” rating and a $85.00 price objective on the stock. Needham & Company LLC downgraded Medtronic from a “buy” rating to a “hold” rating in a report on Friday, May 27th. Finally, Atlantic Securities downgraded Medtronic from an “overweight” rating to a “neutral” rating and cut their price target for the company from $125.00 to $105.00 in a report on Wednesday, June 1st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $111.52.
Medtronic Stock Performance
Medtronic (NYSE:MDT – Get Rating) last issued its quarterly earnings data on Tuesday, August 23rd. The medical technology company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the previous year, the firm posted $1.41 earnings per share. As a group, research analysts predict that Medtronic plc will post 5.53 EPS for the current year.
Medtronic Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 23rd will be issued a $0.68 dividend. The ex-dividend date is Thursday, September 22nd. This represents a $2.72 annualized dividend and a dividend yield of 3.01%. Medtronic’s dividend payout ratio (DPR) is presently 70.28%.
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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