4,161 Shares in Medtronic PLC (NYSE:MDT) Bought by Graybill Wealth Management LTD.

Graybill Wealth Management LTD. purchased a new position in Medtronic PLC (NYSE:MDT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,161 shares of the medical technology company's stock, valued at approximately $374,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Burkett Financial Services LLC increased its holdings in shares of Medtronic by 185.0% in the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock worth $26,000 after purchasing an additional 185 shares during the last quarter. Wood Tarver Financial Group LLC purchased a new stake in Medtronic during the fourth quarter valued at approximately $27,000. Columbia River Financial Group LLC purchased a new stake in Medtronic during the first quarter valued at approximately $28,000. Optiver Holding B.V. purchased a new stake in Medtronic during the fourth quarter valued at approximately $31,000. Finally, Hughes Financial Services LLC purchased a new stake in Medtronic during the first quarter valued at approximately $32,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of recent research reports. Royal Bank Of Canada decreased their price objective on Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a report on Friday, June 6th. Wolfe Research upgraded Medtronic from an "underperform" rating to a "peer perform" rating in a report on Monday, June 30th. Citigroup increased their price objective on Medtronic from $98.00 to $99.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Finally, Wall Street Zen raised Medtronic from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Ten investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $97.47.

Medtronic Stock Performance

Shares of MDT opened at $90.02 on Monday. The stock has a 50-day moving average of $85.77 and a two-hundred day moving average of $86.89. The stock has a market cap of $115.45 billion, a P/E ratio of 24.87, a P/E/G ratio of 2.33 and a beta of 0.80. Medtronic PLC has a one year low of $76.68 and a one year high of $96.25. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.42 and a current ratio of 1.85.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.04. Medtronic had a return on equity of 14.54% and a net margin of 13.90%. The firm had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.81 billion. During the same quarter in the previous year, the business earned $1.46 EPS. Medtronic's revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, research analysts predict that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were issued a dividend of $0.71 per share. This is a boost from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a dividend yield of 3.15%. The ex-dividend date was Friday, June 27th. Medtronic's payout ratio 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.

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