Bard Financial Services Inc. Increases Holdings in Medtronic plc (NYSE:MDT)

Bard Financial Services Inc. increased its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 11.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,235 shares of the medical technology company's stock after purchasing an additional 3,480 shares during the quarter. Bard Financial Services Inc.'s holdings in Medtronic were worth $3,076,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TCTC Holdings LLC grew its holdings in Medtronic by 3.4% during the 4th quarter. TCTC Holdings LLC now owns 39,718 shares of the medical technology company's stock valued at $3,173,000 after buying an additional 1,301 shares in the last quarter. Brighton Jones LLC boosted its position in shares of Medtronic by 1,368.0% during the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock worth $3,194,000 after acquiring an additional 37,265 shares during the last quarter. Oxford Asset Management LLP boosted its position in shares of Medtronic by 70.1% during the fourth quarter. Oxford Asset Management LLP now owns 7,442 shares of the medical technology company's stock worth $594,000 after acquiring an additional 3,068 shares during the last quarter. New Vernon Investment Management LLC grew its stake in Medtronic by 304.9% during the fourth quarter. New Vernon Investment Management LLC now owns 29,613 shares of the medical technology company's stock valued at $2,425,000 after acquiring an additional 22,300 shares in the last quarter. Finally, Advisor OS LLC increased its holdings in Medtronic by 152.0% in the 4th quarter. Advisor OS LLC now owns 11,800 shares of the medical technology company's stock valued at $943,000 after acquiring an additional 7,118 shares during the last quarter. Institutional investors own 82.06% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on MDT. Truist Financial dropped their price objective on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a report on Friday, April 11th. Wall Street Zen lowered Medtronic from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Robert W. Baird cut their price target on Medtronic from $94.00 to $92.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research note on Friday, June 6th. Finally, Mizuho lowered their target price on Medtronic from $100.00 to $98.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. Nine investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $97.00.

Medtronic Trading Down 0.3%

Shares of MDT traded down $0.29 during midday trading on Thursday, hitting $87.77. The stock had a trading volume of 1,969,349 shares, compared to its average volume of 6,852,488. The stock's 50 day moving average is $83.99 and its 200 day moving average is $86.23. The firm has a market cap of $112.57 billion, a PE ratio of 26.68, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25.

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

Medtronic Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Friday, June 27th. This is a boost from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.24%. Medtronic's dividend payout ratio is presently 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.