Mutual of America Capital Management LLC Has $13.21 Million Holdings in Medtronic plc (NYSE:MDT)

Mutual of America Capital Management LLC lessened its stake in Medtronic plc (NYSE:MDT) by 4.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 167,822 shares of the medical technology company’s stock after selling 6,911 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Medtronic were worth $13,209,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Cranbrook Wealth Management LLC bought a new stake in Medtronic in the 2nd quarter valued at $91,000. Virtu Financial LLC bought a new position in Medtronic during the 2nd quarter worth $3,689,000. Alpha Financial Partners LLC bought a new position in Medtronic during the 2nd quarter worth $200,000. Edgestream Partners L.P. bought a new position in Medtronic during the 2nd quarter worth $239,000. Finally, Moors & Cabot Inc. increased its position in Medtronic by 6.7% during the 2nd quarter. Moors & Cabot Inc. now owns 66,472 shares of the medical technology company’s stock worth $5,232,000 after buying an additional 4,183 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Oppenheimer raised their price target on Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 21st. The Goldman Sachs Group assumed coverage on Medtronic in a research note on Thursday, May 30th. They issued a “sell” rating and a $83.00 price objective on the stock. Citigroup reduced their price objective on Medtronic from $90.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Daiwa America raised Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Finally, Barclays raised their price objective on Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $92.92.

Medtronic Price Performance

Shares of MDT opened at $88.63 on Wednesday. Medtronic plc has a 1 year low of $68.84 and a 1 year high of $91.49. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61. The company has a market capitalization of $113.65 billion, a price-to-earnings ratio of 32.23, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. The business has a 50-day moving average of $84.10 and a 200-day moving average of $82.87.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. The company had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $1.20 earnings per share. As a group, equities research analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.16%. Medtronic’s payout ratio is currently 101.82%.

Medtronic Company Profile

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.