Compton Capital Management Inc. RI Cuts Stock Position in Medtronic plc (NYSE:MDT)

Compton Capital Management Inc. RI reduced its position in Medtronic plc (NYSE:MDT) by 0.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,020 shares of the medical technology company’s stock after selling 125 shares during the quarter. Medtronic accounts for about 1.0% of Compton Capital Management Inc. RI’s holdings, making the stock its 25th largest holding. Compton Capital Management Inc. RI’s holdings in Medtronic were worth $3,310,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Medtronic by 16.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,540,276 shares of the medical technology company’s stock worth $2,406,046,000 after purchasing an additional 2,880,467 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Medtronic by 8.4% in the 4th quarter. Bank of New York Mellon Corp now owns 19,625,466 shares of the medical technology company’s stock valued at $2,298,927,000 after acquiring an additional 1,527,582 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Medtronic by 3.2% in the 4th quarter. Wells Fargo & Company MN now owns 15,459,976 shares of the medical technology company’s stock valued at $1,810,982,000 after acquiring an additional 473,712 shares during the last quarter. Norges Bank bought a new stake in shares of Medtronic in the 4th quarter valued at about $1,733,123,000. Finally, Morgan Stanley lifted its stake in shares of Medtronic by 11.8% in the 4th quarter. Morgan Stanley now owns 11,560,485 shares of the medical technology company’s stock valued at $1,354,194,000 after acquiring an additional 1,221,333 shares during the last quarter. Hedge funds and other institutional investors own 79.17% of the company’s stock.

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

MDT stock opened at $125.27 on Friday. Medtronic plc has a 1 year low of $87.68 and a 1 year high of $132.30. The stock’s fifty day moving average price is $124.80 and its 200-day moving average price is $117.07. The company has a market cap of $168.87 billion, a P/E ratio of 47.81, a price-to-earnings-growth ratio of 3.65 and a beta of 0.70. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.16 and a quick ratio of 1.79.

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

The business also recently announced a quarterly dividend, which was paid on Friday, April 16th. Investors of record on Friday, March 26th were issued a $0.58 dividend. The ex-dividend date was Thursday, March 25th. This represents a $2.32 dividend on an annualized basis and a yield of 1.85%. Medtronic’s dividend payout ratio is currently 50.54%.

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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