Bryn Mawr Capital Management LLC Grows Position in Medtronic plc (NYSE:MDT)

Bryn Mawr Capital Management LLC boosted its holdings in Medtronic plc (NYSE:MDT – Get Rating) by 137.0% in the 4th quarter, HoldingsChannel reports. The fund owned 16,083 shares of the medical technology company’s stock after acquiring an additional 9,296 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Medtronic were worth $1,250,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Syverson Strege & Co grew its stake in Medtronic by 52.9% during the 4th quarter. Syverson Strege & Co now owns 341 shares of the medical technology company’s stock worth $27,000 after buying an additional 118 shares during the last quarter. FSB Premier Wealth Management Inc. grew its stake in shares of Medtronic by 2.6% in the fourth quarter. FSB Premier Wealth Management Inc. now owns 4,749 shares of the medical technology company’s stock worth $369,000 after purchasing an additional 119 shares in the last quarter. Auxano Advisors LLC grew its stake in shares of Medtronic by 1.5% in the fourth quarter. Auxano Advisors LLC now owns 8,055 shares of the medical technology company’s stock worth $626,000 after purchasing an additional 122 shares in the last quarter. CoreFirst Bank & Trust grew its stake in shares of Medtronic by 4.2% in the third quarter. CoreFirst Bank & Trust now owns 3,149 shares of the medical technology company’s stock worth $254,000 after purchasing an additional 126 shares in the last quarter. Finally, Oak Asset Management LLC grew its stake in shares of Medtronic by 0.3% in the fourth quarter. Oak Asset Management LLC now owns 37,448 shares of the medical technology company’s stock worth $2,910,000 after purchasing an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 80.37% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $89.00 price target on shares of Medtronic in a research note on Friday, April 21st. Sanford C. Bernstein decreased their price target on Medtronic from $100.00 to $99.00 in a research note on Friday. Deutsche Bank Aktiengesellschaft upped their price objective on Medtronic from $80.00 to $87.00 in a report on Wednesday, February 22nd. Wells Fargo & Company upgraded Medtronic from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $77.00 to $100.00 in a report on Monday, April 24th. Finally, UBS Group lowered Medtronic from a “buy” rating to a “sell” rating and cut their price objective for the company from $127.00 to $79.00 in a report on Wednesday, March 29th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Medtronic currently has an average rating of “Hold” and an average price target of $90.53.

Medtronic Trading Down 2.8 %

Shares of NYSE MDT traded down $2.30 during mid-day trading on Friday, hitting $81.24. 1,427,558 shares of the company traded hands, compared to its average volume of 6,115,963. Medtronic plc has a 1 year low of $75.76 and a 1 year high of $100.61. The stock has a market capitalization of $108.08 billion, a price-to-earnings ratio of 27.48, a PEG ratio of 2.11 and a beta of 0.71. The company has a quick ratio of 1.39, a current ratio of 1.76 and a debt-to-equity ratio of 0.43. The business has a 50 day moving average of $84.78 and a two-hundred day moving average of $82.11.

Medtronic (NYSE:MDT – Get Rating) last announced its quarterly earnings data on Thursday, May 25th. The medical technology company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.01. The firm had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.25 billion. Medtronic had a return on equity of 13.37% and a net margin of 13.20%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.52 EPS. On average, sell-side analysts anticipate that Medtronic plc will post 5.28 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 23rd will be paid a $0.69 dividend. This is an increase from Medtronic’s previous quarterly dividend of $0.68. This represents a $2.76 annualized dividend and a yield of 3.40%. The ex-dividend date is Thursday, June 22nd. Medtronic’s dividend payout ratio is currently 89.47%.

Medtronic 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.