Regent Peak Wealth Advisors LLC Buys 1,397 Shares of Medtronic plc (NYSE:MDT)

Regent Peak Wealth Advisors LLC lifted its stake in Medtronic plc (NYSE:MDT) by 9.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,036 shares of the medical technology company’s stock after purchasing an additional 1,397 shares during the quarter. Regent Peak Wealth Advisors LLC’s holdings in Medtronic were worth $1,894,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in Medtronic in the 4th quarter valued at approximately $1,733,123,000. Price T Rowe Associates Inc. MD lifted its position in Medtronic by 16.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,540,276 shares of the medical technology company’s stock valued at $2,406,046,000 after acquiring an additional 2,880,467 shares in the last quarter. Nuveen Asset Management LLC lifted its position in Medtronic by 25.0% in the 4th quarter. Nuveen Asset Management LLC now owns 9,536,420 shares of the medical technology company’s stock valued at $1,117,096,000 after acquiring an additional 1,909,418 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Medtronic by 8.4% in the 4th 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 acquiring an additional 1,527,582 shares in the last quarter. Finally, Morgan Stanley lifted its position in Medtronic by 11.8% in the 4th quarter. Morgan Stanley now owns 11,560,485 shares of the medical technology company’s stock valued at $1,354,194,000 after acquiring an additional 1,221,333 shares in the last quarter. 79.17% of the stock is currently owned by hedge funds and other institutional investors.

NYSE MDT traded down $2.51 on Tuesday, hitting $128.69. The stock had a trading volume of 67,860 shares, compared to its average volume of 4,630,556. The business’s fifty day moving average price is $122.77 and its 200 day moving average price is $116.16. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.16 and a quick ratio of 1.79. Medtronic plc has a 52-week low of $87.68 and a 52-week high of $132.30. The stock has a market cap of $173.48 billion, a price-to-earnings ratio of 49.84, a price-to-earnings-growth ratio of 3.65 and a beta of 0.70.

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

The company also recently declared a quarterly dividend, which was paid on Friday, April 16th. Shareholders of record on Friday, March 26th were issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Thursday, March 25th. Medtronic’s dividend payout ratio is currently 50.54%.

MDT has been the topic of several research analyst reports. Atlantic Securities initiated coverage on Medtronic in a report on Wednesday, April 21st. They set an “overweight” rating and a $153.00 price target on the stock. Credit Suisse Group increased their price target on Medtronic from $126.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, March 3rd. Stifel Nicolaus increased their price target on Medtronic from $132.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, March 2nd. Cowen upped their price objective on Medtronic from $120.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 24th. Finally, Raymond James upped their price objective on Medtronic from $122.00 to $128.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $124.30.

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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