Stockman Wealth Management Inc. Has $9.14 Million Stake in Medtronic plc (NYSE:MDT)

by · The Cerbat Gem

Stockman Wealth Management Inc. grew its position in Medtronic plc (NYSE:MDT – Free Report) by 8.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 101,463 shares of the medical technology company’s stock after buying an additional 7,540 shares during the period. Medtronic accounts for approximately 1.4% of Stockman Wealth Management Inc.’s investment portfolio, making the stock its 27th largest holding. Stockman Wealth Management Inc.’s holdings in Medtronic were worth $9,135,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in MDT. Capital Research Global Investors increased its stake in shares of Medtronic by 7.1% in the 1st quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock valued at $2,691,577,000 after acquiring an additional 2,044,109 shares during the last quarter. Pzena Investment Management LLC lifted its holdings in shares of Medtronic by 8.3% in the second quarter. Pzena Investment Management LLC now owns 8,307,123 shares of the medical technology company’s stock valued at $653,854,000 after purchasing an additional 637,931 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Medtronic by 7.8% during the second quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company’s stock worth $560,494,000 after acquiring an additional 515,751 shares in the last quarter. Longview Partners Guernsey LTD raised its holdings in Medtronic by 2.3% during the first quarter. Longview Partners Guernsey LTD now owns 6,635,054 shares of the medical technology company’s stock worth $578,245,000 after acquiring an additional 147,737 shares in the last quarter. Finally, Raymond James & Associates raised its holdings in Medtronic by 2.3% during the third quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company’s stock worth $575,460,000 after acquiring an additional 145,504 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Trading Down 0.5 %

Medtronic stock traded down $0.40 during trading hours on Friday, reaching $87.72. 8,137,674 shares of the company’s stock were exchanged, compared to its average volume of 4,969,610. 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’s 50 day simple moving average is $89.68 and its 200 day simple moving average is $84.48. Medtronic plc has a twelve month low of $69.32 and a twelve month high of $92.68. The firm has a market capitalization of $112.50 billion, a PE ratio of 29.64, a PEG ratio of 2.58 and a beta of 0.84.

Medtronic (NYSE:MDT – Get Free Report) last issued its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The firm had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $7.90 billion. During the same period last year, the business posted $1.20 EPS. The business’s revenue was up 3.4% compared to the same quarter last year. Research analysts predict that Medtronic plc will post 5.44 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a $0.70 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.19%. Medtronic’s dividend payout ratio is presently 94.59%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Oppenheimer boosted their price target on Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 21st. Robert W. Baird boosted their price target on 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 reissued a “hold” rating on shares of Medtronic in a research report on Friday, October 25th. Barclays upped their target price on Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Finally, Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $95.36.

Read Our Latest Analysis on Medtronic

Medtronic 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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