Medtronic plc (NYSE:MDT) Shares Bought by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale grew its stake in Medtronic plc (NYSE:MDT) by 2.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,351,765 shares of the medical technology company’s stock after buying an additional 45,661 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.18% of Medtronic worth $210,042,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Manning & Napier Advisors LLC acquired a new stake in shares of Medtronic during the 2nd quarter worth approximately $25,643,000. SageView Advisory Group LLC increased its holdings in Medtronic by 130.3% in the first quarter. SageView Advisory Group LLC now owns 16,829 shares of the medical technology company’s stock valued at $1,467,000 after buying an additional 9,523 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Medtronic by 10.0% in the first quarter. Daiwa Securities Group Inc. now owns 135,268 shares of the medical technology company’s stock worth $11,789,000 after acquiring an additional 12,250 shares during the period. Empowered Funds LLC boosted its stake in shares of Medtronic by 174.9% during the 1st quarter. Empowered Funds LLC now owns 74,903 shares of the medical technology company’s stock worth $6,528,000 after acquiring an additional 47,657 shares in the last quarter. Finally, Oliver Luxxe Assets LLC acquired a new stake in shares of Medtronic during the 1st quarter valued at about $5,121,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Down 0.4 %

MDT stock opened at $90.59 on Friday. Medtronic plc has a one year low of $68.84 and a one year high of $92.68. The firm has a market cap of $116.18 billion, a PE ratio of 30.60, a PEG ratio of 2.60 and a beta of 0.84. The firm’s 50 day moving average price is $89.30 and its 200-day moving average price is $83.84. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.20 by $0.03. The business had revenue of $7.97 billion for the quarter, compared to analyst estimates of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.20 EPS. On average, equities research analysts anticipate that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date was Friday, September 27th. Medtronic’s dividend payout ratio (DPR) is 94.59%.

Analysts Set New Price Targets

Several analysts have commented on MDT shares. Citigroup raised their price objective on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. Robert W. Baird upped their price objective 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. UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and increased their price objective for the company from $76.00 to $90.00 in a report on Thursday, August 15th. Wells Fargo & Company upped their price target on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Stifel Nicolaus boosted their price objective on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $95.36.

Medtronic 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.