Parthenon LLC Has $8.20 Million Position in Medtronic plc (NYSE:MDT)

Parthenon LLC cut its holdings in Medtronic plc (NYSE:MDT) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 91,061 shares of the medical technology company’s stock after selling 1,045 shares during the quarter. Parthenon LLC’s holdings in Medtronic were worth $8,198,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of MDT. GSA Capital Partners LLP lifted its position in Medtronic by 73.0% in the 1st quarter. GSA Capital Partners LLP now owns 4,945 shares of the medical technology company’s stock valued at $431,000 after acquiring an additional 2,086 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Medtronic by 1.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 781,261 shares of the medical technology company’s stock valued at $68,087,000 after purchasing an additional 8,141 shares in the last quarter. TD Asset Management Inc boosted its position in shares of Medtronic by 0.3% during the first quarter. TD Asset Management Inc now owns 1,037,061 shares of the medical technology company’s stock worth $90,380,000 after buying an additional 2,847 shares during the period. SageView Advisory Group LLC grew its holdings in shares of Medtronic by 130.3% during the first quarter. SageView Advisory Group LLC now owns 16,829 shares of the medical technology company’s stock worth $1,467,000 after buying an additional 9,523 shares in the last quarter. Finally, Managed Asset Portfolios LLC raised its position in Medtronic by 0.9% in the 1st quarter. Managed Asset Portfolios LLC now owns 247,526 shares of the medical technology company’s stock valued at $21,572,000 after buying an additional 2,320 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MDT shares. Stifel Nicolaus upped their price target on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Wells Fargo & Company increased their target price on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Robert W. Baird increased their price objective on shares of Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Finally, UBS Group raised Medtronic from a “sell” rating to a “neutral” rating and lifted their target price for the company from $76.00 to $90.00 in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Medtronic currently has an average rating of “Hold” and a consensus price target of $95.36.

Medtronic Stock Performance

Shares of NYSE MDT traded down $0.33 during midday trading on Wednesday, hitting $87.97. 702,396 shares of the company’s stock were exchanged, compared to its average volume of 6,174,978. 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 firm has a market capitalization of $112.82 billion, a PE ratio of 29.81, a price-to-earnings-growth ratio of 2.52 and a beta of 0.84. Medtronic plc has a 12 month low of $72.08 and a 12 month high of $92.68. The company’s 50 day moving average price is $89.65 and its 200 day moving average price is $84.63.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. The firm had revenue of $7.97 billion during 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 company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.20 earnings per share. As a group, analysts predict that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a $0.70 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.80 annualized dividend and a yield of 3.18%. Medtronic’s dividend payout ratio is currently 94.59%.

About Medtronic

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.