Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group Has $1.10 Million Stake in Medtronic PLC (NYSE:MDT)

Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group reduced its position in shares of Medtronic PLC (NYSE:MDT) by 6.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,212 shares of the medical technology company’s stock after selling 897 shares during the period. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group’s holdings in Medtronic were worth $1,097,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Burkett Financial Services LLC increased its holdings in shares of Medtronic by 185.0% during the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock worth $26,000 after buying an additional 185 shares in the last quarter. Wood Tarver Financial Group LLC acquired a new stake in Medtronic during the 4th quarter worth about $27,000. Columbia River Financial Group LLC acquired a new stake in shares of Medtronic in the 1st quarter valued at about $28,000. Optiver Holding B.V. acquired a new stake in shares of Medtronic in the 4th quarter valued at about $31,000. Finally, Hughes Financial Services LLC acquired a new position in Medtronic during the 1st quarter valued at about $32,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Up 1.0%

Shares of NYSE MDT traded up $0.88 on Friday, reaching $90.41. 532,983 shares of the company’s stock traded hands, compared to its average volume of 7,753,792. Medtronic PLC has a 12 month low of $78.32 and a 12 month high of $96.25. The business’s 50 day simple moving average is $86.29 and its two-hundred day simple moving average is $87.06. The company has a market cap of $115.96 billion, a price-to-earnings ratio of 24.98, a price-to-earnings-growth ratio of 2.33 and a beta of 0.80. The company has a quick ratio of 1.42, a current ratio of 1.85 and a debt-to-equity ratio of 0.53.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.04. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The firm had revenue of $8.93 billion for the quarter, compared to analysts’ expectations of $8.81 billion. During the same quarter in the prior year, the company posted $1.46 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, equities research analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were issued a $0.71 dividend. The ex-dividend date of this dividend was Friday, June 27th. This is an increase from Medtronic’s previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.14%. Medtronic’s payout ratio is 78.45%.

Analyst Upgrades and Downgrades

Several research firms have commented on MDT. Robert W. Baird dropped their target price on shares of Medtronic from $94.00 to $92.00 and set a “neutral” rating on the stock in a research report on Thursday, May 22nd. Evercore ISI boosted their target price on shares of Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Friday, June 6th. BTIG Research reissued a “neutral” rating on shares of Medtronic in a report on Friday, July 11th. Finally, Wolfe Research raised shares of Medtronic from an “underperform” rating to a “peer perform” rating in a report on Monday, June 30th. Eleven research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Medtronic has a consensus rating of “Moderate Buy” and a consensus price target of $98.19.

Medtronic Company 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.