Charles Schwab Trust Co Has $2.33 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Charles Schwab Trust Co trimmed its stake in Medtronic plc (NYSE:MDTGet Rating) by 2.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,955 shares of the medical technology company’s stock after selling 472 shares during the quarter. Charles Schwab Trust Co’s holdings in Medtronic were worth $2,325,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Norges Bank purchased a new position in Medtronic during the fourth quarter valued at approximately $1,349,223,000. BlackRock Inc. lifted its holdings in shares of Medtronic by 4.7% in the 4th quarter. BlackRock Inc. now owns 107,903,362 shares of the medical technology company’s stock worth $11,162,603,000 after acquiring an additional 4,883,180 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Medtronic by 680.7% during the 4th quarter. Renaissance Technologies LLC now owns 3,574,541 shares of the medical technology company’s stock valued at $369,786,000 after buying an additional 3,116,700 shares during the last quarter. Nordea Investment Management AB raised its holdings in Medtronic by 25.8% during the 4th quarter. Nordea Investment Management AB now owns 9,829,594 shares of the medical technology company’s stock valued at $1,026,996,000 after buying an additional 2,014,401 shares during the last quarter. Finally, Capital Research Global Investors raised its holdings in Medtronic by 10.6% during the 4th quarter. Capital Research Global Investors now owns 20,618,348 shares of the medical technology company’s stock valued at $2,132,968,000 after buying an additional 1,974,556 shares during the last quarter. Institutional investors and hedge funds own 80.23% of the company’s stock.

MDT has been the subject of several research reports. Truist Financial decreased their price objective on shares of Medtronic from $121.00 to $111.00 and set a “hold” rating for the company in a report on Friday, May 27th. Atlantic Securities downgraded shares of Medtronic from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $125.00 to $105.00 in a research report on Wednesday, June 1st. Morgan Stanley lowered their target price on shares of Medtronic from $115.00 to $114.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 7th. Royal Bank of Canada lowered their price objective on shares of Medtronic from $135.00 to $122.00 in a research note on Friday, May 27th. Finally, Citigroup decreased their target price on shares of Medtronic from $120.00 to $117.00 and set a “buy” rating on the stock in a research note on Friday, May 27th. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $121.55.

Shares of NYSE MDT traded down $0.31 during mid-day trading on Thursday, reaching $88.94. 65,117 shares of the company’s stock were exchanged, compared to its average volume of 6,890,711. The firm has a market capitalization of $119.32 billion, a price-to-earnings ratio of 23.93, a PEG ratio of 2.27 and a beta of 0.74. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.49 and a current ratio of 1.86. Medtronic plc has a 52-week low of $86.95 and a 52-week high of $135.89. The company’s 50-day moving average is $100.73 and its 200-day moving average is $104.38.

Medtronic (NYSE:MDTGet Rating) last posted its earnings results on Thursday, May 26th. The medical technology company reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.04). Medtronic had a return on equity of 14.50% and a net margin of 15.90%. The firm had revenue of $8.09 billion for the quarter, compared to analyst estimates of $8.43 billion. During the same period in the previous year, the company posted $1.50 EPS. Medtronic’s revenue was down 1.2% on a year-over-year basis. As a group, equities analysts predict that Medtronic plc will post 5.56 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Friday, June 24th will be paid a $0.68 dividend. This is an increase from Medtronic’s previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Thursday, June 23rd. Medtronic’s dividend payout ratio (DPR) is 67.56%.

About Medtronic (Get Rating)

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiovascular Portfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit. The Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; AF ablation products; insertable cardiac monitor systems; mechanical circulatory support; TYRX products; and remote monitoring and patient-centered software.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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