Telos Capital Management Inc. Boosts Holdings in Medtronic PLC (MDT)

Telos Capital Management Inc. boosted its position in shares of Medtronic PLC (NYSE:MDT) by 4.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,436 shares of the medical technology company’s stock after acquiring an additional 2,553 shares during the period. Medtronic comprises 1.8% of Telos Capital Management Inc.’s investment portfolio, making the stock its 7th biggest holding. Telos Capital Management Inc. owned about 4,535.39% of Medtronic worth $4,778,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advantus Capital Management Inc boosted its holdings in shares of Medtronic by 0.4% in the 1st quarter. Advantus Capital Management Inc now owns 137,521 shares of the medical technology company’s stock valued at $11,079,000 after buying an additional 497 shares in the last quarter. Homrich & Berg boosted its holdings in shares of Medtronic by 19.0% in the 1st quarter. Homrich & Berg now owns 4,991 shares of the medical technology company’s stock valued at $402,000 after buying an additional 798 shares in the last quarter. Westside Investment Management Inc. boosted its holdings in shares of Medtronic by 114.5% in the 1st quarter. Westside Investment Management Inc. now owns 13,476 shares of the medical technology company’s stock valued at $1,081,000 after buying an additional 7,193 shares in the last quarter. Israel Discount Bank of New York acquired a new position in shares of Medtronic in the 1st quarter valued at $117,000. Finally, Sentry Investments Corp. boosted its holdings in shares of Medtronic by 0.5% in the 1st quarter. Sentry Investments Corp. now owns 1,093,500 shares of the medical technology company’s stock valued at $88,092,000 after buying an additional 5,100 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

Several brokerages have recently issued reports on MDT. Cowen set a $95.00 target price on shares of Medtronic and gave the company a “buy” rating in a report on Tuesday, August 22nd. Oppenheimer restated a “buy” rating and issued a $92.00 target price on shares of Medtronic in a report on Tuesday, August 22nd. Royal Bank of Canada restated a “buy” rating and issued a $90.00 target price on shares of Medtronic in a report on Monday, August 21st. Stifel Nicolaus upped their target price on shares of Medtronic from $83.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, November 22nd. Finally, Northland Securities restated a “hold” rating and issued a $80.00 target price on shares of Medtronic in a report on Wednesday, November 22nd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the stock. Medtronic currently has a consensus rating of “Hold” and an average target price of $88.57.

Shares of Medtronic PLC (MDT) opened at $83.50 on Friday. The firm has a market cap of $110,756.73, a price-to-earnings ratio of 17.64, a P/E/G ratio of 2.26 and a beta of 1.00. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.05 and a current ratio of 2.40. Medtronic PLC has a 52 week low of $69.35 and a 52 week high of $89.72.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.08. The company had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $7.05 billion. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. Medtronic’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.12 EPS. analysts forecast that Medtronic PLC will post 4.77 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Shareholders of record on Friday, December 29th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.84 dividend on an annualized basis and a yield of 2.20%. Medtronic’s payout ratio is currently 50.41%.

In other Medtronic news, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $79.02, for a total transaction of $1,264,320.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

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About Medtronic

Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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