Medtronic PLC (NYSE:MDT) Shares Purchased by Arlington Partners LLC

Arlington Partners LLC lifted its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 27.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,545 shares of the medical technology company's stock after acquiring an additional 10,586 shares during the period. Medtronic accounts for approximately 1.7% of Arlington Partners LLC's holdings, making the stock its 23rd biggest holding. Arlington Partners LLC's holdings in Medtronic were worth $4,452,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MDT. MONECO Advisors LLC increased its holdings in Medtronic by 1.8% in the fourth quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company's stock valued at $512,000 after buying an additional 115 shares during the last quarter. Dunhill Financial LLC boosted its position in shares of Medtronic by 17.2% during the 1st quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company's stock worth $76,000 after acquiring an additional 124 shares in the last quarter. Petros Family Wealth LLC boosted its position in shares of Medtronic by 4.3% during the 1st quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company's stock worth $280,000 after acquiring an additional 127 shares in the last quarter. Faithward Advisors LLC increased its holdings in shares of Medtronic by 2.7% in the 4th quarter. Faithward Advisors LLC now owns 5,043 shares of the medical technology company's stock valued at $403,000 after acquiring an additional 134 shares during the last quarter. Finally, Vestor Capital LLC raised its position in shares of Medtronic by 0.3% during the 4th quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company's stock worth $4,104,000 after acquiring an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Stock Performance

Shares of Medtronic stock traded up $0.44 on Thursday, reaching $86.41. 10,821,631 shares of the stock were exchanged, compared to its average volume of 6,963,939. The firm has a market capitalization of $110.83 billion, a PE ratio of 23.87, a PEG ratio of 2.32 and a beta of 0.79. Medtronic PLC has a 1-year low of $75.96 and a 1-year high of $96.25. The business has a fifty day moving average price of $84.67 and a two-hundred day moving average price of $86.29. 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 (NYSE:MDT - Get Free Report) last released its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.04. The company had revenue of $8.93 billion for the quarter, compared to analysts' expectations of $8.81 billion. Medtronic had a return on equity of 14.54% and a net margin of 13.90%. The firm's quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.46 EPS. As a group, research analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given a $0.71 dividend. This is a boost from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.84 annualized dividend and a yield of 3.29%. Medtronic's dividend payout ratio is presently 77.35%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MDT. Wall Street Zen upgraded shares of Medtronic from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Leerink Partnrs raised shares of Medtronic to a "strong-buy" rating in a research report on Monday, June 16th. Robert W. Baird reduced their price target on shares of Medtronic from $94.00 to $92.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and upped their price objective for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Finally, Truist Financial dropped their price objective on Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $97.87.

About Medtronic

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.