Berkeley Capital Partners LLC Buys 12,061 Shares of Medtronic PLC (NYSE:MDT)

Berkeley Capital Partners LLC grew its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 62.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,257 shares of the medical technology company's stock after purchasing an additional 12,061 shares during the period. Medtronic makes up 0.8% of Berkeley Capital Partners LLC's portfolio, making the stock its 21st biggest holding. Berkeley Capital Partners LLC's holdings in Medtronic were worth $2,809,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in MDT. Vanguard Group Inc. raised its position in Medtronic by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 124,203,387 shares of the medical technology company's stock valued at $9,921,367,000 after acquiring an additional 754,395 shares in the last quarter. Capital Research Global Investors raised its position in Medtronic by 1.8% during the fourth quarter. Capital Research Global Investors now owns 33,203,685 shares of the medical technology company's stock valued at $2,652,310,000 after acquiring an additional 571,700 shares in the last quarter. Geode Capital Management LLC raised its position in Medtronic by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 27,056,217 shares of the medical technology company's stock valued at $2,155,085,000 after acquiring an additional 574,055 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Medtronic by 7.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 22,278,023 shares of the medical technology company's stock valued at $2,001,903,000 after acquiring an additional 1,461,841 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Medtronic by 3.8% during the first quarter. Bank of New York Mellon Corp now owns 20,680,301 shares of the medical technology company's stock valued at $1,858,332,000 after acquiring an additional 756,192 shares in the last quarter. Institutional investors own 82.06% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on MDT. Citigroup increased their price target on Medtronic from $98.00 to $99.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Mizuho raised their target price on Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday. Wall Street Zen raised Medtronic from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Royal Bank Of Canada reduced their target price on Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research report on Friday, June 6th. Eleven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Medtronic presently has a consensus rating of "Moderate Buy" and an average price target of $98.19.

Medtronic Stock Up 0.1%

Shares of NYSE MDT traded up $0.10 during trading hours on Friday, hitting $89.63. The company had a trading volume of 6,413,451 shares, compared to its average volume of 7,016,083. Medtronic PLC has a 1-year low of $78.32 and a 1-year high of $96.25. The firm's 50 day moving average is $86.41 and its 200-day moving average is $87.18. The company has a quick ratio of 1.42, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $114.95 billion, a P/E ratio of 24.76, a price-to-earnings-growth ratio of 2.33 and a beta of 0.80.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.04. The firm 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 company's quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.46 EPS. On average, analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were given a $0.71 dividend. The ex-dividend date was Friday, June 27th. This is an increase from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a yield of 3.17%. Medtronic's dividend payout ratio (DPR) is currently 78.45%.

Medtronic 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.