Trust Co. of Toledo NA OH Boosts Position in Medtronic plc (NYSE:MDT)

Trust Co. of Toledo NA OH grew its holdings in shares of Medtronic plc (NYSE:MDT) by 3.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 17,763 shares of the medical technology company’s stock after acquiring an additional 583 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Medtronic were worth $1,599,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in MDT. M&G Plc bought a new stake in shares of Medtronic during the first quarter valued at approximately $259,160,000. Capital Research Global Investors boosted its position in shares of Medtronic by 7.1% during the first quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock valued at $2,691,577,000 after purchasing an additional 2,044,109 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Medtronic by 1,195.9% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company’s stock valued at $144,637,000 after purchasing an additional 1,695,800 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of Medtronic by 145.4% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,372,641 shares of the medical technology company’s stock valued at $195,431,000 after purchasing an additional 1,405,978 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its position in shares of Medtronic by 26.8% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 6,237,032 shares of the medical technology company’s stock valued at $513,807,000 after purchasing an additional 1,318,590 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Daiwa America upgraded Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Oppenheimer boosted their target price on Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a report on Wednesday, August 21st. Evercore ISI boosted their target price on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday. 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 report on Thursday, August 15th. Finally, Wells Fargo & Company boosted their target price on Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $94.21.

Medtronic Trading Down 1.0 %

Shares of NYSE:MDT opened at $89.10 on Thursday. The company has a market cap of $114.25 billion, a P/E ratio of 32.40, a PEG ratio of 2.56 and a beta of 0.84. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61. Medtronic plc has a 1 year low of $68.84 and a 1 year high of $91.49. The stock’s fifty day moving average price is $86.39 and its 200-day moving average price is $83.23.

Medtronic (NYSE:MDT) last announced its quarterly 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 firm had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.20 earnings per share. Sell-side analysts expect that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend is Friday, September 27th. Medtronic’s dividend payout ratio (DPR) is presently 101.82%.

Medtronic Profile

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.