BTIM Corp. Has $41.18 Million Position in Medtronic PLC (MDT)

BTIM Corp. increased its stake in shares of Medtronic PLC (NYSE:MDT) by 2.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 452,152 shares of the medical technology company’s stock after purchasing an additional 10,958 shares during the period. BTIM Corp.’s holdings in Medtronic were worth $41,182,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Cordasco Financial Network acquired a new stake in shares of Medtronic during the first quarter worth $27,000. Tributary Capital Management LLC acquired a new stake in shares of Medtronic during the fourth quarter worth $27,000. Pin Oak Investment Advisors Inc. grew its stake in shares of Medtronic by 158.0% during the fourth quarter. Pin Oak Investment Advisors Inc. now owns 369 shares of the medical technology company’s stock worth $34,000 after purchasing an additional 226 shares during the period. Highwater Wealth Management LLC acquired a new stake in shares of Medtronic during the fourth quarter worth $39,000. Finally, Spectrum Management Group Inc. grew its stake in shares of Medtronic by 353.8% during the first quarter. Spectrum Management Group Inc. now owns 413 shares of the medical technology company’s stock worth $38,000 after purchasing an additional 322 shares during the period. 81.50% of the stock is owned by institutional investors and hedge funds.

MDT stock opened at $84.22 on Friday. The company has a quick ratio of 1.92, a current ratio of 2.36 and a debt-to-equity ratio of 0.47. The stock has a market cap of $112.95 billion, a PE ratio of 17.66, a PEG ratio of 2.28 and a beta of 0.81. Medtronic PLC has a fifty-two week low of $78.29 and a fifty-two week high of $100.15.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 19th. The medical technology company reported $1.29 earnings per share for the quarter, topping the consensus estimate 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 for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.17 earnings per share. As a group, equities research analysts anticipate that Medtronic PLC will post 5.15 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were given a dividend of $0.50 per share. The ex-dividend date was Thursday, March 21st. This represents a $2.00 annualized dividend and a dividend yield of 2.37%. Medtronic’s dividend payout ratio is currently 41.93%.

A number of brokerages recently commented on MDT. Barclays reaffirmed a “buy” rating and set a $104.00 price objective on shares of Medtronic in a research note on Wednesday, February 20th. Oppenheimer set a $104.00 target price on Medtronic and gave the company a “buy” rating in a research note on Wednesday, February 20th. Citigroup boosted their target price on Medtronic from $95.00 to $101.00 and gave the company a “neutral” rating in a research note on Monday, February 25th. Northland Securities reissued a “hold” rating and issued a $84.00 target price on shares of Medtronic in a research note on Monday, March 18th. Finally, Wells Fargo & Co decreased their target price on Medtronic from $101.00 to $100.00 and set a “market perform” rating for the company in a research note on Thursday, April 4th. Ten investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $103.39.

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Medtronic Company Profile

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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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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