Roffman Miller Associates Inc. PA increased its stake in shares of Medtronic plc. (NYSE:MDT) by 2.4% during the 4th quarter, Holdings Channel reports. The fund owned 243,332 shares of the medical technology company’s stock after purchasing an additional 5,601 shares during the quarter. Medtronic accounts for approximately 2.4% of Roffman Miller Associates Inc. PA’s portfolio, making the stock its 19th largest position. Roffman Miller Associates Inc. PA’s holdings in Medtronic were worth $19,649,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Medtronic by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 104,776,036 shares of the medical technology company’s stock worth $9,298,872,000 after buying an additional 2,454,380 shares during the period. BlackRock Inc. lifted its holdings in Medtronic by 2.8% in the 2nd quarter. BlackRock Inc. now owns 89,512,229 shares of the medical technology company’s stock worth $7,944,210,000 after buying an additional 2,476,853 shares during the period. Artisan Partners Limited Partnership lifted its holdings in Medtronic by 1.1% in the 3rd quarter. Artisan Partners Limited Partnership now owns 23,853,034 shares of the medical technology company’s stock worth $1,855,050,000 after buying an additional 269,814 shares during the period. Lazard Asset Management LLC lifted its holdings in Medtronic by 43.8% in the 2nd quarter. Lazard Asset Management LLC now owns 19,669,866 shares of the medical technology company’s stock worth $1,745,699,000 after buying an additional 5,991,094 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in Medtronic by 1.4% in the 3rd quarter. Wells Fargo & Company MN now owns 12,378,331 shares of the medical technology company’s stock worth $962,664,000 after buying an additional 165,149 shares during the period. Institutional investors and hedge funds own 81.91% of the company’s stock.
Several research firms have weighed in on MDT. Morgan Stanley increased their price objective on Medtronic from $91.00 to $95.00 and gave the stock an “equal weight” rating in a report on Monday, February 5th. Oppenheimer set a $94.00 price objective on Medtronic and gave the stock a “buy” rating in a report on Friday, January 19th. Evercore ISI initiated coverage on Medtronic in a report on Wednesday, January 3rd. They issued an “outperform” rating and a $92.50 price objective for the company. Bank of America upgraded Medtronic from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 2nd. Finally, Argus upgraded Medtronic from a “hold” rating to a “buy” rating and raised their target price for the company from $81.27 to $95.00 in a research note on Tuesday, December 12th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $90.10.
Medtronic plc. (NYSE:MDT) opened at $79.48 on Monday. The stock has a market capitalization of $107,576.02, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 2.19 and a beta of 0.93. Medtronic plc. has a one year low of $75.71 and a one year high of $89.72. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.05 and a current ratio of 2.40.
Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.08. The business had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $7.05 billion. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.12 earnings per share. equities research analysts forecast that Medtronic plc. will post 4.76 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 19th. Shareholders of record on Friday, December 29th were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Thursday, December 28th. Medtronic’s payout ratio is 50.41%.
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Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.
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