Medtronic plc (NYSE:MDT) Stock Position Increased by Spearhead Capital Advisors LLC

Spearhead Capital Advisors LLC boosted its holdings in shares of Medtronic plc (NYSE:MDT) by 10.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,547 shares of the medical technology company’s stock after buying an additional 6,085 shares during the period. Spearhead Capital Advisors LLC’s holdings in Medtronic were worth $7,861,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also made changes to their positions in MDT. Diversified LLC acquired a new stake in shares of Medtronic in the 4th quarter valued at about $25,000. Vantage Consulting Group Inc acquired a new stake in shares of Medtronic in the 4th quarter valued at about $26,000. Concord Wealth Partners acquired a new stake in shares of Medtronic in the 4th quarter valued at about $26,000. Safeguard Investment Advisory Group LLC acquired a new stake in shares of Medtronic in the 4th quarter valued at about $26,000. Finally, JCIC Asset Management Inc. raised its stake in shares of Medtronic by 335.2% in the 4th quarter. JCIC Asset Management Inc. now owns 235 shares of the medical technology company’s stock valued at $28,000 after purchasing an additional 181 shares during the period. Hedge funds and other institutional investors own 79.17% of the company’s stock.

MDT stock traded down $1.87 during mid-day trading on Tuesday, reaching $129.33. 41,196 shares of the company traded hands, compared to its average volume of 4,630,556. The stock has a market cap of $174.35 billion, a price-to-earnings ratio of 49.84, a P/E/G ratio of 3.65 and a beta of 0.70. The company has a quick ratio of 1.79, a current ratio of 2.16 and a debt-to-equity ratio of 0.52. Medtronic plc has a fifty-two week low of $87.68 and a fifty-two week high of $132.30. The firm’s 50 day moving average price is $122.77 and its 200 day moving average price is $116.16.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 23rd. The medical technology company reported $1.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.14. Medtronic had a net margin of 12.69% and a return on equity of 9.71%. The firm had revenue of $7.78 billion for the quarter, compared to analysts’ expectations of $7.77 billion. During the same quarter last year, the firm earned $1.44 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. On average, analysts anticipate that Medtronic plc will post 4.21 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, April 16th. Shareholders of record on Friday, March 26th were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Thursday, March 25th. This represents a $2.32 annualized dividend and a dividend yield of 1.79%. Medtronic’s dividend payout ratio is currently 50.54%.

A number of brokerages have recently issued reports on MDT. Credit Suisse Group boosted their price objective on Medtronic from $126.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, March 3rd. Raymond James boosted their price target on Medtronic from $122.00 to $128.00 and gave the company an “outperform” rating in a research note on Wednesday, March 3rd. SVB Leerink boosted their price target on Medtronic from $123.00 to $129.00 and gave the company a “market perform” rating in a research note on Tuesday, March 2nd. Atlantic Securities started coverage on Medtronic in a research note on Wednesday, April 21st. They issued an “overweight” rating and a $153.00 price target for the company. Finally, Cowen boosted their price objective on shares of Medtronic from $120.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $124.30.

Medtronic Profile

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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