Citizens Financial Group Inc RI Has $551,000 Holdings in Medtronic PLC (NYSE:MDT)

Citizens Financial Group Inc RI lessened its holdings in shares of Medtronic PLC (NYSE:MDT) by 10.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,100 shares of the medical technology company’s stock after selling 679 shares during the quarter. Citizens Financial Group Inc RI’s holdings in Medtronic were worth $551,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of MDT. Watch Point Trust Co raised its stake in shares of Medtronic by 0.3% in the 4th quarter. Watch Point Trust Co now owns 32,723 shares of the medical technology company’s stock valued at $3,712,000 after purchasing an additional 85 shares during the period. Blackhawk Capital Partners LLC. raised its stake in shares of Medtronic by 0.9% in the 4th quarter. Blackhawk Capital Partners LLC. now owns 9,324 shares of the medical technology company’s stock valued at $1,013,000 after purchasing an additional 85 shares during the period. Valley National Advisers Inc. raised its stake in shares of Medtronic by 0.9% in the 4th quarter. Valley National Advisers Inc. now owns 10,064 shares of the medical technology company’s stock valued at $1,142,000 after purchasing an additional 86 shares during the period. Quadrant Capital Management LLC raised its stake in shares of Medtronic by 0.3% in the 4th quarter. Quadrant Capital Management LLC now owns 30,517 shares of the medical technology company’s stock valued at $3,462,000 after purchasing an additional 90 shares during the period. Finally, Community Bank & Trust Waco Texas raised its stake in shares of Medtronic by 1.6% in the 4th quarter. Community Bank & Trust Waco Texas now owns 5,912 shares of the medical technology company’s stock valued at $671,000 after purchasing an additional 92 shares during the period. 81.74% of the stock is currently owned by institutional investors and hedge funds.

Shares of MDT stock opened at $95.41 on Friday. The firm has a 50 day moving average price of $96.59 and a two-hundred day moving average price of $105.87. The company has a quick ratio of 2.28, a current ratio of 2.75 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $131.44 billion, a PE ratio of 24.22, a price-to-earnings-growth ratio of 2.64 and a beta of 0.69. Medtronic PLC has a 12-month low of $72.13 and a 12-month high of $122.15.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Thursday, May 21st. The medical technology company reported $0.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.28 by ($0.70). The company had revenue of $6 billion for the quarter, compared to analyst estimates of $6.10 billion. Medtronic had a return on equity of 14.76% and a net margin of 17.11%. The company’s revenue was down 26.4% on a year-over-year basis. During the same quarter last year, the business earned $1.54 earnings per share. As a group, research analysts expect that Medtronic PLC will post 4.68 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be given a dividend of $0.58 per share. The ex-dividend date is Thursday, June 25th. This is an increase from Medtronic’s previous quarterly dividend of $0.54. This represents a $2.32 annualized dividend and a yield of 2.43%. Medtronic’s dividend payout ratio (DPR) is 41.38%.

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on Medtronic from $128.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Piper Sandler decreased their price objective on Medtronic from $135.00 to $120.00 and set an “overweight” rating for the company in a report on Thursday. Sanford C. Bernstein restated a “hold” rating and issued a $112.00 price objective on shares of Medtronic in a report on Thursday, April 23rd. Wells Fargo & Co decreased their price objective on Medtronic from $130.00 to $108.00 and set an “overweight” rating for the company in a report on Wednesday, April 22nd. Finally, Goldman Sachs Group assumed coverage on Medtronic in a report on Wednesday, February 12th. They issued a “sell” rating and a $118.00 price objective for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $115.61.

About Medtronic

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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