First Washington CORP Buys 866 Shares of Medtronic plc (NYSE:MDT)

First Washington CORP increased its stake in shares of Medtronic plc (NYSE:MDT) by 2.0% during the second quarter, HoldingsChannel.com reports. The fund owned 44,253 shares of the medical technology company’s stock after purchasing an additional 866 shares during the period. First Washington CORP’s holdings in Medtronic were worth $3,483,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. CCLA Investment Management grew its holdings in Medtronic by 2.1% during the second quarter. CCLA Investment Management now owns 100,178 shares of the medical technology company’s stock valued at $7,885,000 after purchasing an additional 2,024 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Medtronic by 30.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 88,294 shares of the medical technology company’s stock worth $6,846,000 after buying an additional 20,666 shares during the period. Tredje AP fonden grew its stake in Medtronic by 3.2% in the 2nd quarter. Tredje AP fonden now owns 321,282 shares of the medical technology company’s stock valued at $25,288,000 after buying an additional 10,000 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its holdings in Medtronic by 12.3% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 170,718 shares of the medical technology company’s stock worth $13,437,000 after acquiring an additional 18,754 shares during the period. Finally, Argent Trust Co lifted its position in Medtronic by 8.1% during the 2nd quarter. Argent Trust Co now owns 55,429 shares of the medical technology company’s stock worth $4,363,000 after acquiring an additional 4,136 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Medtronic Trading Down 1.6 %

Shares of MDT opened at $88.63 on Wednesday. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. The stock has a market cap of $113.65 billion, a PE ratio of 32.23, a PEG ratio of 2.57 and a beta of 0.84. Medtronic plc has a 1 year low of $68.84 and a 1 year high of $91.49. The stock has a 50 day simple moving average of $84.10 and a 200-day simple moving average of $82.87.

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

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.16%. Medtronic’s dividend payout ratio (DPR) is presently 101.82%.

Analyst Ratings Changes

A number of equities analysts have recently commented on MDT shares. Piper Sandler lifted their price objective on Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Daiwa America raised Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Robert W. Baird upped their target price on shares of Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Tuesday, August 20th. Finally, UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and upped their price objective for the company from $76.00 to $90.00 in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average 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.