Thrivent Financial for Lutherans Has $114.18 Million Stock Position in Medtronic plc (NYSE:MDT)

Thrivent Financial for Lutherans cut its stake in shares of Medtronic plc (NYSE:MDT) by 4.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,450,682 shares of the medical technology company’s stock after selling 68,159 shares during the period. Thrivent Financial for Lutherans owned 0.11% of Medtronic worth $114,183,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. LifeSteps Financial Inc. acquired a new position in Medtronic in the 1st quarter valued at $27,000. Lynx Investment Advisory bought a new stake in Medtronic in the 2nd quarter valued at about $28,000. Tributary Capital Management LLC acquired a new position in shares of Medtronic during the 1st quarter worth approximately $33,000. Fortis Group Advisors LLC increased its holdings in shares of Medtronic by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock worth $38,000 after purchasing an additional 230 shares during the period. Finally, Riverview Trust Co acquired a new stake in shares of Medtronic in the first quarter valued at approximately $39,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Down 0.1 %

Shares of NYSE MDT opened at $89.35 on Friday. Medtronic plc has a 52-week low of $68.84 and a 52-week high of $91.49. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. The company’s 50 day moving average price is $84.77 and its 200-day moving average price is $82.99. The company has a market capitalization of $114.57 billion, a P/E ratio of 32.49, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84.

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

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, September 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.13%. Medtronic’s dividend payout ratio (DPR) is presently 101.82%.

Analyst Upgrades and Downgrades

A number of research firms have commented on MDT. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Tuesday, August 20th. The Goldman Sachs Group started coverage on shares of Medtronic in a research report on Thursday, May 30th. They set a “sell” rating and a $83.00 price objective for the company. Barclays upped their price target on shares of Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Wells Fargo & Company upped their target price on Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Finally, Citigroup dropped their price objective on Medtronic from $90.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. One 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $92.92.

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.