ICW Investment Advisors LLC Has $1.20 Million Holdings in Medtronic plc (NYSE:MDT)

ICW Investment Advisors LLC decreased its position in shares of Medtronic plc (NYSE:MDT) by 1.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,256 shares of the medical technology company’s stock after selling 169 shares during the period. ICW Investment Advisors LLC’s holdings in Medtronic were worth $1,201,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of MDT. Equity Investment Corp raised its position in Medtronic by 27.9% in the 4th quarter. Equity Investment Corp now owns 1,341,079 shares of the medical technology company’s stock valued at $110,478,000 after purchasing an additional 292,459 shares during the last quarter. Chemung Canal Trust Co. raised its holdings in shares of Medtronic by 1,467.5% in the first quarter. Chemung Canal Trust Co. now owns 47,902 shares of the medical technology company’s stock valued at $4,175,000 after buying an additional 44,846 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in Medtronic during the 2nd quarter worth about $25,643,000. TD Asset Management Inc grew its holdings in Medtronic by 4.3% during the 4th quarter. TD Asset Management Inc now owns 1,034,214 shares of the medical technology company’s stock worth $85,199,000 after acquiring an additional 42,988 shares during the last quarter. Finally, SageView Advisory Group LLC increased its position in Medtronic by 130.3% in the 1st quarter. SageView Advisory Group LLC now owns 16,829 shares of the medical technology company’s stock valued at $1,467,000 after acquiring an additional 9,523 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 0.6 %

Medtronic stock traded up $0.51 during midday trading on Friday, hitting $89.90. 909,082 shares of the stock were exchanged, compared to its average volume of 6,268,122. Medtronic plc has a 52 week low of $68.84 and a 52 week high of $91.49. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $115.28 billion, a PE ratio of 32.51, a P/E/G ratio of 2.52 and a beta of 0.82. The company has a fifty day simple moving average of $82.06 and a two-hundred day simple moving average of $82.59.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. The company had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the firm posted $1.20 earnings per share. Equities research analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Friday, September 27th. Medtronic’s dividend payout ratio is currently 101.82%.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of research reports. Robert W. Baird upped their target price on shares of Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Tuesday, August 20th. Oppenheimer boosted their target price on Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 21st. Stifel Nicolaus raised their price target on Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a report on Wednesday, August 21st. Finally, Wells Fargo & Company boosted their price objective on Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $92.92.

Medtronic Company Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.