111 Capital Purchases New Position in Medtronic plc (NYSE:MDT)

111 Capital bought a new position in Medtronic plc (NYSE:MDT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 11,501 shares of the medical technology company's stock, valued at approximately $919,000.

Several other institutional investors have also made changes to their positions in the company. Mainstream Capital Management LLC purchased a new position in Medtronic during the fourth quarter valued at approximately $26,000. Stephens Consulting LLC grew its position in Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 204 shares in the last quarter. Rakuten Securities Inc. grew its position in Medtronic by 753.8% during the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 294 shares in the last quarter. Wood Tarver Financial Group LLC purchased a new position in Medtronic during the fourth quarter valued at approximately $27,000. Finally, Optiver Holding B.V. bought a new stake in Medtronic in the fourth quarter worth approximately $31,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on MDT. Royal Bank of Canada decreased their target price on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research report on Monday, May 19th. Wall Street Zen cut shares of Medtronic from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. Finally, UBS Group boosted their price objective on shares of Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Medtronic has an average rating of "Hold" and a consensus target price of $96.07.

Medtronic Price Performance

NYSE:MDT traded up $0.62 during mid-day trading on Friday, reaching $83.03. 11,022,726 shares of the company were exchanged, compared to its average volume of 6,827,239. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25. The company has a fifty day moving average of $84.19 and a 200 day moving average of $86.20. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The stock has a market cap of $106.49 billion, a PE ratio of 25.24, a PEG ratio of 2.22 and a beta of 0.81.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, topping analysts' consensus estimates of $1.58 by $0.04. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The firm had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.81 billion. During the same quarter in the prior year, the firm earned $1.46 EPS. The company's revenue was up 3.9% on a year-over-year basis. On average, research analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.42%. This is an increase from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date is Friday, June 27th. Medtronic's dividend payout ratio (DPR) is currently 78.45%.

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.