Fiduciary Family Office LLC Makes New $744,000 Investment in Medtronic PLC (NYSE:MDT)

Key Points

• Fiduciary Family Office LLC purchased 8,284 shares of Medtronic PLC, valued at approximately $744,000, during the first quarter.
• Medtronic reported $1.62 earnings per share for the last quarter, exceeding analysts' expectations, with an annual revenue increase of 3.9%.
• The company recently declared a quarterly dividend of $0.71 per share, reflecting an increase from the prior dividend, contributing to a dividend yield of 3.1%.

Fiduciary Family Office LLC bought a new stake in Medtronic PLC (NYSE:MDT - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 8,284 shares of the medical technology company's stock, valued at approximately $744,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MDT. Burkett Financial Services LLC increased its stake in shares of Medtronic by 185.0% during the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock valued at $26,000 after acquiring an additional 185 shares during the last quarter. Wood Tarver Financial Group LLC acquired a new position in shares of Medtronic during the 4th quarter valued at about $27,000. Columbia River Financial Group LLC acquired a new position in shares of Medtronic during the 1st quarter valued at about $28,000. Optiver Holding B.V. acquired a new position in shares of Medtronic during the 4th quarter valued at about $31,000. Finally, Hughes Financial Services LLC acquired a new position in shares of Medtronic during the 1st quarter valued at about $32,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Stock Down 0.1%

NYSE:MDT traded down $0.08 during trading hours on Monday, hitting $92.80. The stock had a trading volume of 6,563,651 shares, compared to its average volume of 6,643,395. The company has a current ratio of 1.85, a quick ratio of 1.42 and a debt-to-equity ratio of 0.53. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $96.25. The business has a 50 day simple moving average of $88.83 and a two-hundred day simple moving average of $87.94. The company has a market cap of $118.95 billion, a PE ratio of 25.63, a price-to-earnings-growth ratio of 2.41 and a beta of 0.80.

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

Medtronic Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, June 27th. This is an increase from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.1%. Medtronic's dividend payout ratio is 78.45%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MDT shares. Royal Bank Of Canada dropped their price objective on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Citigroup increased their target price on shares of Medtronic from $98.00 to $99.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Mizuho increased their target price on shares of Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Morgan Stanley reissued an "overweight" rating and set a $107.00 target price (up previously from $98.00) on shares of Medtronic in a research report on Tuesday, July 15th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research report on Friday, June 6th. Twelve equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Medtronic currently has a consensus rating of "Moderate Buy" and a consensus target price of $98.19.

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.