Medtronic plc (NYSE:MDT) Holdings raised by Addison Advisors LLC

Addison Advisors LLC raised its stake in shares of Medtronic plc (NYSE:MDT – Free Report) by 11.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,764 shares of the medical technology company’s stock after acquiring an additional 292 shares during the period. Addison Advisors LLC’s holdings in Medtronic were worth $218,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Capital Research Global Investors boosted its position in Medtronic by 7.1% in the first quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock worth $2,691,577,000 after purchasing an additional 2,044,109 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Medtronic by 3.5% in the first quarter. Bank of New York Mellon Corp now owns 21,817,063 shares of the medical technology company’s stock valued at $1,901,357,000 after purchasing an additional 727,931 shares in the last quarter. Norges Bank purchased a new position in Medtronic in the fourth quarter valued at about $1,229,726,000. Sanders Capital LLC grew its position in Medtronic by 2.8% in the fourth quarter. Sanders Capital LLC now owns 12,634,161 shares of the medical technology company’s stock valued at $1,040,802,000 after acquiring an additional 346,641 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its stake in Medtronic by 54.5% in the fourth quarter. First Eagle Investment Management LLC now owns 9,409,680 shares of the medical technology company’s stock valued at $775,169,000 after purchasing an additional 3,320,800 shares during the last quarter. 82.06% of the shares are owned by institutional investors and hedge funds.

Medtronic stock down 0.6%

Shares of MDT stock opened at $89.89 on Friday. Medtronic plc has a 12-month low of $68.84 and a 12-month high of $91.49. The company has a quick ratio of 1.61, a current ratio of 2.13, and a debt-to-equity ratio of 0.55. The firm has a market cap of $115.26 billion, a PE ratio of 32.69, a price-to-earnings-growth ratio of 2.52 and a beta of 0.82. The stock has a 50-day moving average of $82.29 and a 200-day moving average of $82.62.

Medtronic (NYSE:MDT – Get Your Free Report ) last announced its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. The company had revenue of $7.97 billion for the quarter, compared to analyst estimates of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. Medtronic’s revenue was up 3.4% compared to the same quarter last year. In the same quarter last year, the company posted earnings of $1.20 per share. On average, equities analysts predict that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given a $0.70 dividend. This represents an annualized dividend of $2.80 and a dividend yield of 3.11%. The ex-dividend date of this dividend is Friday, September 27. Medtronic’s payout ratio is currently 101.82%.

Analyst upgrades and downgrades

Several brokerages have recently commented on MDT. Stifel Nicolaus upped their target price on shares of Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. Robert W. Baird boosted their price target on shares of Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. UBS Group raised Medtronic from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $76.00 to $90.00 in a research report on Thursday, August 15th . Citigroup cut their price target on Medtronic from $90.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $92.92.

Get the latest stock report on Medtronic

Medtronic 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 pacemakers, cardioverter defibrillators and cardiac resynchronization therapy devices; cardiac ablation products; implantable cardiac monitoring systems; TYRX products; and remote monitoring and patient-centric software.

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