Medtronic plc (NYSE:MDT) Stock Holdings Raised by DDD Partners LLC

DDD Partners LLC grew its stake in shares of Medtronic plc (NYSE:MDT) by 0.4% in the 2nd quarter, Holdings Channel reports. The firm owned 229,825 shares of the medical technology company’s stock after acquiring an additional 828 shares during the quarter. Medtronic comprises approximately 2.1% of DDD Partners LLC’s holdings, making the stock its 21st biggest position. DDD Partners LLC’s holdings in Medtronic were worth $18,090,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in MDT. LifeSteps Financial Inc. bought a new position in Medtronic in the 1st quarter worth about $27,000. MeadowBrook Investment Advisors LLC bought a new position in shares of Medtronic in the fourth quarter valued at approximately $27,000. Lynx Investment Advisory bought a new position in shares of Medtronic in the second quarter valued at approximately $28,000. Tributary Capital Management LLC bought a new position in shares of Medtronic in the first quarter valued at approximately $33,000. Finally, Riverview Trust Co bought a new position in shares of Medtronic in the first quarter valued at approximately $39,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Performance

Medtronic stock traded up $0.39 during mid-day trading on Monday, reaching $88.58. The company had a trading volume of 7,940,100 shares, compared to its average volume of 6,288,700. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55. Medtronic plc has a 52 week low of $68.84 and a 52 week high of $90.13. The company has a 50 day moving average of $81.32 and a 200-day moving average of $82.42. The firm has a market cap of $113.58 billion, a price-to-earnings ratio of 32.21, a PEG ratio of 2.52 and a beta of 0.82.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The firm had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $7.90 billion. During the same period in the prior year, the firm earned $1.20 EPS. The business’s revenue was up 3.4% on a year-over-year basis. On average, sell-side analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Friday, September 27th. Medtronic’s payout ratio is 101.82%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MDT. Wells Fargo & Company increased their price objective on shares of Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. The Goldman Sachs Group began coverage on shares of Medtronic in a research note on Thursday, May 30th. They set a “sell” rating and a $83.00 target price for the company. Oppenheimer increased their target price on shares of Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research note on Wednesday, August 21st. Stifel Nicolaus increased their target price on shares of Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, August 21st. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $92.00 target price on shares of Medtronic in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $92.92.

Insider Transactions at Medtronic

In related news, CEO Geoffrey Martha sold 19,113 shares of Medtronic stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $83.77, for a total transaction of $1,601,096.01. Following the completion of the transaction, the chief executive officer now directly owns 143,348 shares of the company’s stock, valued at approximately $12,008,261.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.30% of the stock is owned by insiders.

Medtronic Company Profile

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.