Medtronic plc (NYSE:MDT) Shares Acquired by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. raised its position in shares of Medtronic plc (NYSE:MDT) by 0.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 138,930 shares of the medical technology company’s stock after purchasing an additional 128 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Medtronic were worth $10,938,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in Medtronic in the 4th quarter worth approximately $1,229,726,000. M&G Plc acquired a new position in Medtronic during the 1st quarter worth $259,160,000. Capital Research Global Investors boosted its position in Medtronic by 7.1% during the 1st quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock worth $2,691,577,000 after acquiring an additional 2,044,109 shares during the period. Pzena Investment Management LLC increased its holdings in shares of Medtronic by 30.9% during the fourth quarter. Pzena Investment Management LLC now owns 7,500,562 shares of the medical technology company’s stock valued at $617,896,000 after purchasing an additional 1,769,985 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings 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 during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Performance

NYSE:MDT opened at $90.00 on Monday. The stock has a fifty day simple moving average of $83.60 and a 200 day simple moving average of $82.79. 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 capitalization of $115.40 billion, a price-to-earnings ratio of 32.73, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. Medtronic plc has a 1-year low of $68.84 and a 1-year high of $91.49.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.03. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The business had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $7.90 billion. During the same period last year, the firm posted $1.20 earnings per share. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. Sell-side analysts forecast that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

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

Wall Street Analysts Forecast Growth

MDT has been the subject of a number of recent analyst reports. Robert W. Baird increased their target price on shares of Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. UBS Group upgraded shares of Medtronic from a “sell” rating to a “neutral” rating and increased their price objective for the company from $76.00 to $90.00 in a report on Thursday, August 15th. Barclays boosted their target price on Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Oppenheimer increased their price target on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research note on Wednesday, August 21st. Finally, Citigroup lowered their price target on Medtronic from $90.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. One equities 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’s stock. Based on data from MarketBeat, Medtronic currently has an average rating of “Hold” and a consensus target price of $92.92.

About Medtronic

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.