DeDora Capital Inc. raised its holdings in Medtronic PLC (NYSE:MDT) by 2.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,822 shares of the medical technology company’s stock after buying an additional 167 shares during the quarter. DeDora Capital Inc.’s holdings in Medtronic were worth $621,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in MDT. Hedeker Wealth LLC raised its stake in shares of Medtronic by 0.6% in the fourth quarter. Hedeker Wealth LLC now owns 21,039 shares of the medical technology company’s stock worth $1,913,000 after purchasing an additional 124 shares during the last quarter. Hanson McClain Inc. grew its holdings in Medtronic by 1.7% during the fourth quarter. Hanson McClain Inc. now owns 7,321 shares of the medical technology company’s stock worth $666,000 after acquiring an additional 125 shares during the period. Cornerstone Advisors Inc. grew its holdings in Medtronic by 12.2% during the third quarter. Cornerstone Advisors Inc. now owns 1,165 shares of the medical technology company’s stock worth $115,000 after acquiring an additional 127 shares during the period. Abbrea Capital LLC grew its holdings in Medtronic by 3.0% during the fourth quarter. Abbrea Capital LLC now owns 4,384 shares of the medical technology company’s stock worth $401,000 after acquiring an additional 128 shares during the period. Finally, Triangle Securities Wealth Management grew its holdings in Medtronic by 1.1% during the first quarter. Triangle Securities Wealth Management now owns 12,056 shares of the medical technology company’s stock worth $1,098,000 after acquiring an additional 134 shares during the period. Institutional investors own 81.50% of the company’s stock.
Several analysts recently commented on the company. Northland Securities reaffirmed a “hold” rating and set a $84.00 target price on shares of Medtronic in a report on Monday, March 18th. Wells Fargo & Co dropped their target price on Medtronic from $101.00 to $100.00 and set a “market perform” rating on the stock in a report on Thursday, April 4th. Barclays reaffirmed a “buy” rating and set a $104.00 target price on shares of Medtronic in a report on Wednesday, February 20th. Citigroup raised their target price on Medtronic from $95.00 to $101.00 and gave the stock a “neutral” rating in a report on Monday, February 25th. Finally, Credit Suisse Group began coverage on Medtronic in a report on Monday, December 17th. They issued an “outperform” rating and a $109.00 price objective on the stock. 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 stock. The company has a consensus rating of “Buy” and a consensus target price of $103.39.
Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 19th. The medical technology company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.05. The business had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.53 billion. Medtronic had a return on equity of 13.85% and a net margin of 16.10%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.17 earnings per share. On average, research analysts predict that Medtronic PLC will post 5.15 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were given a $0.50 dividend. The ex-dividend date was Thursday, March 21st. This represents a $2.00 annualized dividend and a dividend yield of 2.30%. Medtronic’s dividend payout ratio (DPR) is presently 41.93%.
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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