Chartwell Investment Partners LLC Raises Stock Holdings in Medtronic PLC (NYSE:MDT)

Chartwell Investment Partners LLC raised its position in Medtronic PLC (NYSE:MDT) by 20.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,463 shares of the medical technology company’s stock after acquiring an additional 7,618 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Medtronic were worth $4,169,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of MDT. Magnolia Capital Advisors LLC grew its position in shares of Medtronic by 3.6% in the 1st quarter. Magnolia Capital Advisors LLC now owns 3,022 shares of the medical technology company’s stock worth $273,000 after buying an additional 104 shares during the last quarter. Doyle Wealth Management increased its position in Medtronic by 0.9% during the 1st quarter. Doyle Wealth Management now owns 11,423 shares of the medical technology company’s stock valued at $1,030,000 after purchasing an additional 107 shares during the period. Pratt Collard Advisory Partners LLC raised its holdings in Medtronic by 0.4% in the 2nd quarter. Pratt Collard Advisory Partners LLC now owns 23,928 shares of the medical technology company’s stock worth $2,194,000 after purchasing an additional 107 shares in the last quarter. Harrington Investments INC lifted its position in shares of Medtronic by 1.0% in the 2nd quarter. Harrington Investments INC now owns 11,177 shares of the medical technology company’s stock worth $1,025,000 after purchasing an additional 109 shares during the period. Finally, Clean Yield Group lifted its position in shares of Medtronic by 2.8% in the 1st quarter. Clean Yield Group now owns 4,028 shares of the medical technology company’s stock worth $363,000 after purchasing an additional 110 shares during the period. 81.01% of the stock is owned by hedge funds and other institutional investors.

In other news, SVP Carol A. Surface sold 2,000 shares of Medtronic stock in a transaction on Friday, May 29th. The shares were sold at an average price of $97.72, for a total transaction of $195,440.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.28% of the company’s stock.

NYSE:MDT opened at $96.48 on Friday. The company has a market cap of $129.41 billion, a PE ratio of 27.18, a price-to-earnings-growth ratio of 3.65 and a beta of 0.67. Medtronic PLC has a 12 month low of $72.13 and a 12 month high of $122.15. The company has a current ratio of 2.13, a quick ratio of 1.72 and a debt-to-equity ratio of 0.43. The company has a 50 day simple moving average of $93.73 and a two-hundred day simple moving average of $99.84.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Thursday, May 21st. The medical technology company reported $0.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.28 by ($0.70). The business had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6.10 billion. Medtronic had a net margin of 16.56% and a return on equity of 12.17%. Medtronic’s revenue for the quarter was down 26.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.54 EPS. Research analysts forecast that Medtronic PLC will post 3.41 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were given a $0.58 dividend. The ex-dividend date of this dividend was Thursday, June 25th. This is an increase from Medtronic’s previous quarterly dividend of $0.54. This represents a $2.32 annualized dividend and a yield of 2.40%. Medtronic’s dividend payout ratio (DPR) is presently 50.54%.

A number of research firms recently issued reports on MDT. Wells Fargo & Co decreased their price target on shares of Medtronic from $130.00 to $108.00 and set an “overweight” rating for the company in a research note on Wednesday, April 22nd. Raymond James decreased their target price on Medtronic from $110.00 to $107.00 and set an “outperform” rating for the company in a research report on Friday, May 22nd. Credit Suisse Group restated a “buy” rating and set a $117.00 price target on shares of Medtronic in a research report on Thursday, July 2nd. Zacks Investment Research downgraded Medtronic from a “hold” rating to a “strong sell” rating and set a $84.00 price objective for the company. in a report on Wednesday. Finally, UBS Group lowered their price objective on Medtronic from $130.00 to $118.00 and set a “buy” rating for the company in a research report on Friday, May 22nd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $113.55.

Medtronic 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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