Medtronic plc (NYSE:MDT) is Murphy Pohlad Asset Management LLC’s 5th Largest Position

Murphy Pohlad Asset Management LLC increased its holdings in shares of Medtronic plc (NYSE:MDT) by 3.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,742 shares of the medical technology company’s stock after purchasing an additional 2,000 shares during the period. Medtronic makes up 3.2% of Murphy Pohlad Asset Management LLC’s holdings, making the stock its 5th biggest position. Murphy Pohlad Asset Management LLC’s holdings in Medtronic were worth $7,293,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its holdings in shares of Medtronic by 16.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,540,276 shares of the medical technology company’s stock worth $2,406,046,000 after purchasing an additional 2,880,467 shares during the last quarter. Bank of New York Mellon Corp grew its position in Medtronic by 8.4% during the fourth quarter. Bank of New York Mellon Corp now owns 19,625,466 shares of the medical technology company’s stock valued at $2,298,927,000 after buying an additional 1,527,582 shares during the period. Wells Fargo & Company MN grew its position in Medtronic by 3.2% during the fourth quarter. Wells Fargo & Company MN now owns 15,459,976 shares of the medical technology company’s stock valued at $1,810,982,000 after buying an additional 473,712 shares during the period. Norges Bank acquired a new stake in Medtronic during the fourth quarter valued at $1,733,123,000. Finally, Morgan Stanley grew its position in Medtronic by 11.8% during the fourth quarter. Morgan Stanley now owns 11,560,485 shares of the medical technology company’s stock valued at $1,354,194,000 after buying an additional 1,221,333 shares during the period. 79.17% of the stock is owned by hedge funds and other institutional investors.

Several analysts recently commented on MDT shares. Cowen raised their price target on shares of Medtronic from $120.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, February 24th. SVB Leerink raised their price target on shares of Medtronic from $123.00 to $129.00 and gave the company a “market perform” rating in a research report on Tuesday, March 2nd. Raymond James lifted their target price on shares of Medtronic from $122.00 to $128.00 and gave the company an “outperform” rating in a research report on Wednesday, March 3rd. Stifel Nicolaus lifted their target price on shares of Medtronic from $132.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, March 2nd. Finally, Credit Suisse Group lifted their target price on shares of Medtronic from $126.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, March 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Medtronic currently has a consensus rating of “Buy” and an average target price of $123.86.

MDT stock traded down $0.01 during trading on Thursday, reaching $130.24. 86,533 shares of the stock were exchanged, compared to its average volume of 4,729,647. The company has a current ratio of 2.16, a quick ratio of 1.79 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average price of $119.66 and a 200-day moving average price of $114.71. Medtronic plc has a 1 year low of $87.68 and a 1 year high of $131.38. The firm has a market capitalization of $175.57 billion, a price-to-earnings ratio of 49.71, a P/E/G ratio of 3.65 and a beta of 0.70.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, February 23rd. The medical technology company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.14. Medtronic had a net margin of 12.69% and a return on equity of 9.71%. The company had revenue of $7.78 billion for the quarter, compared to the consensus estimate of $7.77 billion. During the same period in the previous year, the firm earned $1.44 earnings per share. Medtronic’s quarterly revenue was up .8% compared to the same quarter last year. On average, research analysts anticipate that Medtronic plc will post 4.21 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, April 16th. Shareholders of record on Friday, March 26th were paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Thursday, March 25th. Medtronic’s dividend payout ratio (DPR) is presently 50.54%.

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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