C WorldWide Group Holding A S Sells 35,000 Shares of Medtronic PLC (NYSE:MDT)

by · The Cerbat Gem

C WorldWide Group Holding A S trimmed its holdings in shares of Medtronic PLC (NYSE:MDT – Free Report) by 12.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 255,000 shares of the medical technology company’s stock after selling 35,000 shares during the quarter. C WorldWide Group Holding A S’s holdings in Medtronic were worth $22,914,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Dunhill Financial LLC lifted its position in shares of Medtronic by 17.2% during the first quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company’s stock worth $76,000 after purchasing an additional 124 shares during the last quarter. Cidel Asset Management Inc. increased its stake in shares of Medtronic by 1.3% during the first quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company’s stock valued at $856,000 after buying an additional 126 shares during the period. Petros Family Wealth LLC increased its stake in shares of Medtronic by 4.3% during the first quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company’s stock valued at $280,000 after buying an additional 127 shares during the period. Faithward Advisors LLC increased its stake in shares of Medtronic by 2.7% during the fourth quarter. Faithward Advisors LLC now owns 5,043 shares of the medical technology company’s stock valued at $403,000 after buying an additional 134 shares during the period. Finally, Vestor Capital LLC increased its stake in shares of Medtronic by 0.3% during the fourth quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company’s stock valued at $4,104,000 after buying an additional 138 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MDT shares. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Friday, June 6th. Leerink Partners started coverage on Medtronic in a research note on Monday, June 16th. They set an “outperform” rating and a $110.00 price target on the stock. Robert W. Baird cut their price target on Medtronic from $94.00 to $92.00 and set a “neutral” rating on the stock in a research note on Thursday, May 22nd. William Blair upgraded Medtronic to a “hold” rating in a research note on Friday, July 11th. Finally, Evercore ISI raised their price target on Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Eleven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $98.19.

View Our Latest Analysis on MDT

Medtronic Stock Up 0.7%

Shares of MDT stock traded up $0.59 during trading hours on Friday, reaching $90.12. 741,413 shares of the company’s stock were exchanged, compared to its average volume of 7,008,713. Medtronic PLC has a 1 year low of $78.32 and a 1 year high of $96.25. The stock has a market cap of $115.58 billion, a PE ratio of 24.88, a PEG ratio of 2.33 and a beta of 0.80. The company has a current ratio of 1.85, a quick ratio of 1.42 and a debt-to-equity ratio of 0.53. The stock’s fifty day moving average price is $86.29 and its two-hundred day moving average price is $87.06.

Medtronic (NYSE:MDT – Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.04. Medtronic had a return on equity of 14.54% and a net margin of 13.90%. The business had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.81 billion. During the same quarter in the previous year, the firm earned $1.46 earnings per share. The company’s revenue was up 3.9% on a year-over-year basis. Research analysts predict that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were paid a dividend of $0.71 per share. This is a positive change from Medtronic’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, June 27th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.15%. Medtronic’s payout ratio is presently 78.45%.

About Medtronic

(Free Report)

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.

See Also

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