Cascade Investment Advisors Inc. Acquires 377 Shares of Medtronic plc (NYSE:MDT)

Cascade Investment Advisors Inc. raised its holdings in Medtronic plc (NYSE:MDTGet Rating) by 3.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,507 shares of the medical technology company’s stock after buying an additional 377 shares during the period. Cascade Investment Advisors Inc.’s holdings in Medtronic were worth $1,294,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in MDT. Morgan Stanley lifted its position in shares of Medtronic by 8.2% during the second quarter. Morgan Stanley now owns 13,000,437 shares of the medical technology company’s stock valued at $1,613,745,000 after purchasing an additional 981,186 shares in the last quarter. Center for Financial Planning Inc. lifted its position in shares of Medtronic by 5.1% during the third quarter. Center for Financial Planning Inc. now owns 3,013 shares of the medical technology company’s stock valued at $378,000 after purchasing an additional 146 shares in the last quarter. Banque Pictet & Cie SA lifted its position in shares of Medtronic by 4.2% during the third quarter. Banque Pictet & Cie SA now owns 666,145 shares of the medical technology company’s stock valued at $83,501,000 after purchasing an additional 27,127 shares in the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of Medtronic by 12.4% during the third quarter. Orion Portfolio Solutions LLC now owns 8,988 shares of the medical technology company’s stock valued at $1,127,000 after purchasing an additional 989 shares in the last quarter. Finally, Pictet & Cie Europe SA lifted its position in shares of Medtronic by 43.3% during the third quarter. Pictet & Cie Europe SA now owns 340,007 shares of the medical technology company’s stock valued at $42,620,000 after purchasing an additional 102,693 shares in the last quarter. 80.23% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms recently issued reports on MDT. Piper Sandler decreased their price objective on shares of Medtronic from $110.00 to $105.00 and set a “neutral” rating for the company in a report on Wednesday, February 16th. Bank of America began coverage on shares of Medtronic in a report on Tuesday, March 1st. They set a “buy” rating for the company. Needham & Company LLC decreased their price objective on shares of Medtronic from $128.00 to $124.00 and set a “buy” rating for the company in a report on Wednesday, February 23rd. The Goldman Sachs Group decreased their price objective on shares of Medtronic from $129.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, January 18th. Finally, Raymond James decreased their price objective on shares of Medtronic from $127.00 to $116.00 and set an “outperform” rating for the company in a report on Friday, February 18th. Eleven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Medtronic presently has a consensus rating of “Buy” and an average price target of $128.19.

NYSE:MDT traded up $1.56 during mid-day trading on Friday, hitting $102.67. 3,525,869 shares of the stock traded hands, compared to its average volume of 5,166,020. The business’s 50-day moving average price is $107.55 and its 200 day moving average price is $108.41. The company has a market cap of $137.74 billion, a PE ratio of 28.28, a price-to-earnings-growth ratio of 2.29 and a beta of 0.74. Medtronic plc has a 12-month low of $98.38 and a 12-month high of $135.89. The company has a quick ratio of 2.10, a current ratio of 2.61 and a debt-to-equity ratio of 0.46.

Medtronic (NYSE:MDTGet Rating) last issued its quarterly earnings data on Tuesday, February 22nd. The medical technology company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.36 by $0.01. The company had revenue of $7.76 billion during the quarter, compared to analysts’ expectations of $7.91 billion. Medtronic had a net margin of 15.46% and a return on equity of 14.57%. Medtronic’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.29 earnings per share. Analysts anticipate that Medtronic plc will post 5.66 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, April 22nd. Shareholders of record on Friday, March 25th were given a dividend of $0.63 per share. The ex-dividend date was Thursday, March 24th. This represents a $2.52 annualized dividend and a yield of 2.45%. Medtronic’s payout ratio is presently 69.42%.

In other Medtronic news, SVP Carol A. Surface sold 6,000 shares of Medtronic stock in a transaction that occurred on Friday, March 11th. The shares were sold at an average price of $105.30, for a total transaction of $631,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Karen L. Parkhill sold 682 shares of Medtronic stock in a transaction that occurred on Friday, March 18th. The shares were sold at an average price of $110.00, for a total transaction of $75,020.00. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

Medtronic Profile (Get Rating)

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiovascular Portfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit. The Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; AF ablation products; insertable cardiac monitor systems; mechanical circulatory support; TYRX products; and remote monitoring and patient-centered software.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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