Louisiana State Employees Retirement System grew its position in Medtronic PLC (NYSE:MDT) by 0.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 70,800 shares of the medical technology company’s stock after purchasing an additional 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Medtronic were worth $6,448,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of MDT. Sustainable Insight Capital Management LLC acquired a new position in Medtronic during the 4th quarter worth about $964,000. Chesley Taft & Associates LLC lifted its position in Medtronic by 11.7% during the 1st quarter. Chesley Taft & Associates LLC now owns 10,029 shares of the medical technology company’s stock valued at $913,000 after purchasing an additional 1,050 shares during the period. Cohen Lawrence B lifted its position in Medtronic by 1.3% during the 4th quarter. Cohen Lawrence B now owns 33,364 shares of the medical technology company’s stock valued at $3,035,000 after purchasing an additional 429 shares during the period. Wills Financial Group Inc. lifted its position in Medtronic by 19.3% during the 4th quarter. Wills Financial Group Inc. now owns 18,021 shares of the medical technology company’s stock valued at $1,639,000 after purchasing an additional 2,921 shares during the period. Finally, Stanley Laman Group Ltd. lifted its position in Medtronic by 2.3% during the 4th quarter. Stanley Laman Group Ltd. now owns 11,702 shares of the medical technology company’s stock valued at $1,064,000 after purchasing an additional 266 shares during the period. Institutional investors own 81.50% of the company’s stock.
Shares of MDT stock opened at $86.15 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.36 and a quick ratio of 1.92. The stock has a market capitalization of $116.51 billion, a PE ratio of 18.06, a P/E/G ratio of 2.28 and a beta of 0.81. Medtronic PLC has a one year low of $78.29 and a one year high of $100.15.
Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, February 19th. The medical technology company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.05. The company had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.53 billion. Medtronic had a return on equity of 13.85% and a net margin of 16.10%. Medtronic’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.17 EPS. As a group, sell-side analysts expect that Medtronic PLC will post 5.15 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.32%. Medtronic’s dividend payout ratio (DPR) is presently 41.93%.
A number of research firms have issued reports on MDT. Barclays restated a “buy” rating and set a $104.00 target price on shares of Medtronic in a research report on Wednesday, February 20th. Oppenheimer set a $104.00 target price on shares of Medtronic and gave the company a “buy” rating in a research report on Wednesday, February 20th. Citigroup upped their target price on shares of Medtronic from $95.00 to $101.00 and gave the company a “neutral” rating in a research report on Monday, February 25th. JPMorgan Chase & Co. upgraded shares of Medtronic from a “neutral” rating to an “overweight” rating and upped their target price for the company from $100.00 to $109.00 in a research report on Wednesday, December 19th. Finally, Northland Securities restated a “hold” rating and set a $84.00 target price on shares of Medtronic in a research report on Monday, March 18th. Ten analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $103.39.
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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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