Aurora Private Wealth Inc. Purchases New Shares in Medtronic PLC (NYSE:MDT)

Aurora Private Wealth Inc. acquired a new position in shares of Medtronic PLC (NYSE:MDT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 15,443 shares of the medical technology company's stock, valued at approximately $1,388,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in 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 valued at $26,000 after purchasing an additional 185 shares in the last quarter. Rakuten Securities Inc. increased its stake in shares of Medtronic by 753.8% in the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock valued at $27,000 after buying an additional 294 shares during the period. Wood Tarver Financial Group LLC acquired a new stake in shares of Medtronic in the 4th quarter valued at $27,000. Optiver Holding B.V. bought a new stake in shares of Medtronic during the fourth quarter worth $31,000. Finally, Chapman Financial Group LLC acquired a new position in shares of Medtronic during the fourth quarter valued at $33,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Wall Street Analyst Weigh In

MDT has been the subject of a number of research reports. Leerink Partners initiated coverage on Medtronic in a research report on Monday, June 16th. They issued an "outperform" rating and a $110.00 price objective for the company. Robert W. Baird reduced their target price on shares of Medtronic from $94.00 to $92.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Wall Street Zen raised shares of Medtronic from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Royal Bank Of Canada reduced their price objective on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. Finally, Wolfe Research raised shares of Medtronic from an "underperform" rating to a "peer perform" rating in a report on Monday. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $97.87.

Medtronic Stock Performance

Shares of Medtronic stock opened at $88.50 on Friday. Medtronic PLC has a 12 month low of $75.96 and a 12 month high of $96.25. The company has a current ratio of 1.85, a quick ratio of 1.42 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $113.50 billion, a PE ratio of 24.45, a PEG ratio of 2.38 and a beta of 0.80. The stock's fifty day simple moving average is $85.21 and its 200 day simple moving average is $86.49.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results 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 return on equity of 14.54% and a net margin of 13.90%. The company had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.81 billion. During the same quarter last year, the firm posted $1.46 earnings per share. Medtronic's revenue was up 3.9% compared to the same quarter last year. On average, research analysts predict that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be given a dividend of $0.71 per share. This is an increase from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date is Friday, June 27th. This represents a $2.84 annualized dividend and a dividend yield of 3.21%. Medtronic's dividend payout ratio is currently 78.45%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.