Brooklyn Investment Group Buys 1,910 Shares of Medtronic PLC $MDT

by · The Markets Daily

Brooklyn Investment Group lifted its stake in Medtronic PLC (NYSE:MDT – Free Report) by 41.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,523 shares of the medical technology company’s stock after acquiring an additional 1,910 shares during the period. Brooklyn Investment Group’s holdings in Medtronic were worth $586,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Burkett Financial Services LLC increased its position in Medtronic by 185.0% in the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock worth $26,000 after buying an additional 185 shares during the period. Columbia River Financial Group LLC bought a new position in Medtronic in the 1st quarter worth approximately $28,000. Wood Tarver Financial Group LLC bought a new position in Medtronic in the 4th quarter worth approximately $27,000. Hughes Financial Services LLC bought a new position in Medtronic in the 1st quarter worth approximately $32,000. Finally, Optiver Holding B.V. bought a new position in Medtronic in the 4th quarter worth approximately $31,000. 82.06% of the stock is owned by institutional investors.

Medtronic Price Performance

Shares of MDT stock opened at $92.74 on Tuesday. The stock’s fifty day simple moving average is $89.43 and its 200 day simple moving average is $87.97. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42. The firm has a market cap of $118.87 billion, a price-to-earnings ratio of 25.62, a P/E/G ratio of 2.42 and a beta of 0.80. Medtronic PLC has a one year low of $79.29 and a one year high of $96.25.

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

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.1%. Medtronic’s payout ratio is currently 78.45%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Mizuho lifted their price target on Medtronic from $98.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 16th. Evercore ISI lifted their price target on Medtronic from $103.00 to $106.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Thursday, August 14th. Wall Street Zen lowered Medtronic from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Morgan Stanley reissued an “overweight” rating and set a $107.00 price objective (up previously from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Twelve analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Medtronic has a consensus rating of “Moderate Buy” and a consensus target price of $98.19.

Read Our Latest Stock Report on Medtronic

Medtronic Company Profile

(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.

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