Checchi Capital Advisers LLC Raises Position in Medtronic plc (NYSE:MDT)

Checchi Capital Advisers LLC boosted its stake in Medtronic plc (NYSE:MDTGet Rating) by 3.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,300 shares of the medical technology company’s stock after buying an additional 326 shares during the period. Checchi Capital Advisers LLC’s holdings in Medtronic were worth $1,254,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MDT. Mascoma Wealth Management LLC increased its stake in shares of Medtronic by 41.7% during the first quarter. Mascoma Wealth Management LLC now owns 394 shares of the medical technology company’s stock valued at $44,000 after purchasing an additional 116 shares in the last quarter. Baker Tilly Wealth Management LLC increased its stake in shares of Medtronic by 26.2% during the first quarter. Baker Tilly Wealth Management LLC now owns 22,774 shares of the medical technology company’s stock valued at $2,527,000 after purchasing an additional 4,725 shares in the last quarter. 180 Wealth Advisors LLC increased its stake in shares of Medtronic by 3.2% during the first quarter. 180 Wealth Advisors LLC now owns 24,492 shares of the medical technology company’s stock valued at $2,700,000 after purchasing an additional 760 shares in the last quarter. InTrack Investment Management Inc bought a new stake in shares of Medtronic during the first quarter valued at approximately $346,000. Finally, Red Door Wealth Management LLC bought a new stake in shares of Medtronic during the first quarter valued at approximately $202,000. 80.23% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Stock Up 0.1 %

MDT opened at $93.28 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.49 and a current ratio of 1.86. Medtronic plc has a fifty-two week low of $86.70 and a fifty-two week high of $135.89. The firm’s fifty day moving average is $91.49 and its 200 day moving average is $100.86. The stock has a market cap of $125.14 billion, a price-to-earnings ratio of 25.01, a price-to-earnings-growth ratio of 2.39 and a beta of 0.75.

Medtronic (NYSE:MDTGet Rating) last released its earnings results on Thursday, May 26th. The medical technology company reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.04). Medtronic had a net margin of 15.90% and a return on equity of 14.50%. The firm had revenue of $8.09 billion for the quarter, compared to analysts’ expectations of $8.43 billion. During the same quarter last year, the firm posted $1.50 EPS. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, sell-side analysts forecast that Medtronic plc will post 5.56 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Friday, June 24th were paid a dividend of $0.68 per share. This is a boost from Medtronic’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Thursday, June 23rd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.92%. Medtronic’s payout ratio is 72.92%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Medtronic from $149.00 to $121.00 in a research report on Friday, May 27th. Raymond James reduced their price target on shares of Medtronic from $116.00 to $109.00 in a research report on Tuesday, May 31st. Needham & Company LLC downgraded shares of Medtronic from a “buy” rating to a “hold” rating in a research report on Friday, May 27th. SVB Leerink reissued a “market perform” rating on shares of Medtronic in a research report on Wednesday, April 13th. Finally, Cowen set a $125.00 target price on shares of Medtronic and gave the stock an “outperform” rating in a research report on Monday, May 23rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Medtronic currently has an average rating of “Hold” and a consensus target price of $117.13.

Medtronic Company Profile

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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.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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