Buckingham Capital Management Inc. Raises Stock Position in Medtronic plc (NYSE:MDT)

Buckingham Capital Management Inc. grew its holdings in Medtronic plc (NYSE:MDT) by 11.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,069 shares of the medical technology company’s stock after buying an additional 1,912 shares during the period. Buckingham Capital Management Inc.’s holdings in Medtronic were worth $2,253,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of MDT. Diversified LLC purchased a new position in shares of Medtronic in the 4th quarter worth $25,000. Vantage Consulting Group Inc purchased a new position in shares of Medtronic in the 4th quarter worth $26,000. Concord Wealth Partners purchased a new position in shares of Medtronic in the 4th quarter worth $26,000. Safeguard Investment Advisory Group LLC bought a new stake in shares of Medtronic in the 4th quarter worth about $26,000. Finally, JCIC Asset Management Inc. lifted its holdings 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 worth $28,000 after acquiring an additional 181 shares during the last quarter. 79.17% of the stock is owned by institutional investors and hedge funds.

MDT has been the subject of several analyst reports. Atlantic Securities initiated coverage on shares of Medtronic in a report on Wednesday, April 21st. They issued an “overweight” rating and a $153.00 target price for the company. Raymond James raised their target price on shares of Medtronic from $122.00 to $128.00 and gave the stock an “outperform” rating in a report on Wednesday, March 3rd. Stifel Nicolaus raised their target price on shares of Medtronic from $132.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, March 2nd. Credit Suisse Group raised their target price on shares of Medtronic from $126.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, March 3rd. Finally, Cowen lifted their price objective on shares of Medtronic from $120.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, February 24th. One analyst has rated the stock with a sell rating, two have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $125.54.

NYSE MDT opened at $125.27 on Friday. The company’s 50-day simple moving average is $124.80 and its two-hundred day simple moving average is $117.07. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.79 and a current ratio of 2.16. Medtronic plc has a one year low of $87.68 and a one year high of $132.30. The company has a market capitalization of $168.87 billion, a price-to-earnings ratio of 47.81, a price-to-earnings-growth ratio of 3.65 and a beta of 0.70.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 23rd. The medical technology company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $7.77 billion. During the same quarter in the previous year, the firm earned $1.44 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. Equities analysts expect that Medtronic plc will post 4.21 earnings per share for the current fiscal year.

The business 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. This represents a $2.32 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend was Thursday, March 25th. Medtronic’s dividend payout ratio is presently 50.54%.

Medtronic Company 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.

Recommended Story: What is a price target?

Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic plc (NYSE:MDT).

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.