Delta Capital Management LLC lessened its stake in shares of Medtronic PLC (NYSE:MDT) by 0.3% during the first quarter, HoldingsChannel reports. The firm owned 46,265 shares of the medical technology company’s stock after selling 150 shares during the period. Medtronic accounts for about 2.7% of Delta Capital Management LLC’s portfolio, making the stock its 13th biggest position. Delta Capital Management LLC’s holdings in Medtronic were worth $4,214,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in MDT. Bank of New York Mellon Corp boosted its position in shares of Medtronic by 89,912.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 17,012,355 shares of the medical technology company’s stock worth $1,673,505,000 after purchasing an additional 16,993,455 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Medtronic by 8,884.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 13,286,072 shares of the medical technology company’s stock worth $146,000 after purchasing an additional 13,138,192 shares in the last quarter. Norges Bank bought a new position in shares of Medtronic during the 4th quarter worth about $1,120,279,000. Nordea Investment Management AB bought a new position in shares of Medtronic during the 3rd quarter worth about $738,453,000. Finally, American Century Companies Inc. boosted its position in shares of Medtronic by 23.0% during the 4th quarter. American Century Companies Inc. now owns 9,746,733 shares of the medical technology company’s stock worth $886,563,000 after purchasing an additional 1,821,093 shares in the last quarter. 81.50% of the stock is currently owned by institutional investors.

MDT opened at $84.73 on Thursday. The company has a current ratio of 2.36, a quick ratio of 1.92 and a debt-to-equity ratio of 0.47. Medtronic PLC has a fifty-two week low of $78.29 and a fifty-two week high of $100.15. The stock has a market capitalization of $115.54 billion, a P/E ratio of 17.76, a price-to-earnings-growth ratio of 2.28 and a beta of 0.81.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 19th. The medical technology company reported $1.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.05. Medtronic had a net margin of 16.10% and a return on equity of 13.85%. The company had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.53 billion. During the same quarter in the prior year, the business posted $1.17 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year. Equities analysts forecast that Medtronic PLC will post 5.15 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $2.00 annualized dividend and a yield of 2.36%. Medtronic’s dividend payout ratio (DPR) is 41.93%.

MDT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised shares of Medtronic from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $100.00 to $109.00 in a research report on Wednesday, December 19th. Citigroup cut shares of Medtronic from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $109.00 to $96.00 in a research report on Wednesday, January 2nd. Morgan Stanley increased their price objective on shares of Medtronic from $98.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 2nd. Deutsche Bank initiated coverage on shares of Medtronic in a research report on Wednesday, January 2nd. They set a “buy” rating and a $99.00 price objective on the stock. Finally, ValuEngine cut shares of Medtronic from a “buy” rating to a “hold” rating in a research report on Monday, January 7th. Ten research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $103.39.

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Medtronic 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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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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