TD Asset Management Inc. Has $162.21 Million Stock Position in Medtronic PLC (NYSE:MDT)
TD Asset Management Inc. trimmed its position in Medtronic PLC (NYSE:MDT) by 2.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,665,561 shares of the medical technology company’s stock after selling 36,074 shares during the quarter. TD Asset Management Inc. owned about 0.12% of Medtronic worth $162,209,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of the company. Comerica Securities Inc. raised its position in shares of Medtronic by 3.8% during the 4th quarter. Comerica Securities Inc. now owns 13,521 shares of the medical technology company’s stock worth $1,237,000 after purchasing an additional 491 shares during the last quarter. Legacy Advisors LLC acquired a new stake in Medtronic in the 1st quarter valued at about $100,000. Cribstone Capital Management LLC raised its holdings in Medtronic by 830.4% in the 1st quarter. Cribstone Capital Management LLC now owns 4,931 shares of the medical technology company’s stock valued at $449,000 after acquiring an additional 4,401 shares during the last quarter. Calamos Advisors LLC raised its holdings in Medtronic by 24.0% in the 1st quarter. Calamos Advisors LLC now owns 1,098,516 shares of the medical technology company’s stock valued at $100,053,000 after acquiring an additional 212,467 shares during the last quarter. Finally, Biltmore Family Office LLC raised its holdings in Medtronic by 4.6% in the 1st quarter. Biltmore Family Office LLC now owns 8,912 shares of the medical technology company’s stock valued at $816,000 after acquiring an additional 395 shares during the last quarter. Institutional investors and hedge funds own 80.65% of the company’s stock.
A number of research firms have commented on MDT. Royal Bank of Canada cut their price objective on shares of Medtronic to $100.00 and set an “outperform” rating for the company in a report on Tuesday, May 28th. Zacks Investment Research upgraded shares of Medtronic from a “sell” rating to a “hold” rating in a report on Monday, May 20th. Wells Fargo & Co upgraded shares of Medtronic from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $100.00 to $110.00 in a report on Tuesday, June 4th. ValuEngine downgraded shares of Medtronic from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Oppenheimer set a $110.00 price objective on shares of Medtronic and gave the company a “buy” rating in a report on Monday, July 15th. Seven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Medtronic presently has a consensus rating of “Buy” and an average target price of $106.05.
MDT stock traded up $1.49 during midday trading on Tuesday, hitting $102.49. The company’s stock had a trading volume of 205,945 shares, compared to its average volume of 4,229,762. The company has a quick ratio of 2.15, a current ratio of 2.59 and a debt-to-equity ratio of 0.49. Medtronic PLC has a 52-week low of $81.66 and a 52-week high of $103.95. The company has a market cap of $136.96 billion, a price-to-earnings ratio of 19.60, a P/E/G ratio of 2.60 and a beta of 0.67. The firm has a 50-day moving average of $100.27.
Medtronic (NYSE:MDT) last issued its quarterly earnings results on Thursday, May 23rd. The medical technology company reported $1.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.07. The company had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.12 billion. Medtronic had a net margin of 15.15% and a return on equity of 14.16%. The firm’s revenue was up .0% compared to the same quarter last year. During the same quarter last year, the company posted $1.42 EPS. On average, research analysts expect that Medtronic PLC will post 5.48 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Monday, July 8th were given a dividend of $0.54 per share. This is a boost from Medtronic’s previous quarterly dividend of $0.50. This represents a $2.16 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Friday, July 5th. Medtronic’s payout ratio is 41.38%.
Medtronic Company Profile
Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.
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