Chevy Chase Trust Holdings LLC Acquires 1,166 Shares of Medtronic plc (NYSE:MDT)

Chevy Chase Trust Holdings LLC increased its position in shares of Medtronic plc (NYSE:MDTGet Rating) by 0.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 812,059 shares of the medical technology company’s stock after purchasing an additional 1,166 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Medtronic were worth $65,574,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MDT. Castle Wealth Management LLC bought a new stake in Medtronic in the 2nd quarter valued at $28,000. IAG Wealth Partners LLC boosted its stake in shares of Medtronic by 58.1% during the 3rd quarter. IAG Wealth Partners LLC now owns 351 shares of the medical technology company’s stock worth $28,000 after purchasing an additional 129 shares during the period. Tortoise Investment Management LLC lifted its holdings in Medtronic by 53.2% during the 2nd quarter. Tortoise Investment Management LLC now owns 357 shares of the medical technology company’s stock valued at $32,000 after buying an additional 124 shares in the last quarter. West Branch Capital LLC lifted its holdings in Medtronic by 84.8% during the 2nd quarter. West Branch Capital LLC now owns 377 shares of the medical technology company’s stock valued at $34,000 after buying an additional 173 shares in the last quarter. Finally, Annapolis Financial Services LLC lifted its holdings in Medtronic by 368.0% during the 3rd quarter. Annapolis Financial Services LLC now owns 482 shares of the medical technology company’s stock valued at $39,000 after buying an additional 379 shares in the last quarter. 80.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Barclays reduced their price objective on shares of Medtronic from $90.00 to $85.00 and set an “equal weight” rating for the company in a research note on Friday, November 25th. Cowen reduced their price objective on shares of Medtronic from $117.00 to $90.00 in a research report on Wednesday, November 23rd. Wells Fargo & Company reduced their price objective on shares of Medtronic from $82.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 30th. Cowen reduced their target price on shares of Medtronic from $117.00 to $90.00 in a research report on Wednesday, November 23rd. Finally, Mizuho dropped their price objective on shares of Medtronic from $100.00 to $95.00 and set a “buy” rating for the company in a report on Tuesday. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $94.25.

Insider Activity

In related news, EVP Sean Salmon sold 16,631 shares of the company’s stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $80.50, for a total transaction of $1,338,795.50. Following the sale, the executive vice president now owns 36,088 shares in the company, valued at $2,905,084. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Medtronic Price Performance

Shares of MDT stock opened at $80.10 on Wednesday. The company has a current ratio of 1.76, a quick ratio of 1.41 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $106.55 billion, a P/E ratio of 25.09, a P/E/G ratio of 2.02 and a beta of 0.72. Medtronic plc has a 12 month low of $75.76 and a 12 month high of $114.31. The stock has a 50 day moving average of $78.88 and a two-hundred day moving average of $84.57.

Medtronic (NYSE:MDTGet Rating) last released its earnings results on Tuesday, November 22nd. The medical technology company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.28 by $0.02. Medtronic had a return on equity of 13.52% and a net margin of 14.03%. The company had revenue of $7.59 billion during the quarter, compared to analysts’ expectations of $7.70 billion. During the same period last year, the firm earned $1.32 EPS. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. As a group, equities analysts expect that Medtronic plc will post 5.26 EPS for the current year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Wednesday, December 21st were issued a $0.68 dividend. The ex-dividend date of this dividend was Tuesday, December 20th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 3.40%. Medtronic’s dividend payout ratio (DPR) is 84.47%.

Medtronic Company Profile

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Medtronic Plc is a medical technology company, which engages in the development, manufacture, distribution, and sale of device-based medical therapies and services. It operates through the following segments: Cardiovascular Porrtfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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