Boston Trust Walden Corp Has $12.71 Million Stake in Medtronic PLC (NYSE:MDT)

Boston Trust Walden Corp lifted its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 6.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 141,389 shares of the medical technology company's stock after purchasing an additional 8,047 shares during the period. Boston Trust Walden Corp's holdings in Medtronic were worth $12,705,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MDT. Global X Japan Co. Ltd. lifted its holdings in Medtronic by 17.4% in the first quarter. Global X Japan Co. Ltd. now owns 6,713 shares of the medical technology company's stock valued at $603,000 after buying an additional 996 shares during the period. Beacon Capital Management LLC lifted its holdings in Medtronic by 45.8% in the first quarter. Beacon Capital Management LLC now owns 500 shares of the medical technology company's stock valued at $45,000 after buying an additional 157 shares during the period. Aspiriant LLC acquired a new position in Medtronic in the first quarter valued at approximately $306,000. State of Alaska Department of Revenue lifted its holdings in Medtronic by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 190,206 shares of the medical technology company's stock valued at $17,091,000 after buying an additional 3,995 shares during the period. Finally, CWA Asset Management Group LLC lifted its holdings in Medtronic by 38.1% in the first quarter. CWA Asset Management Group LLC now owns 7,941 shares of the medical technology company's stock valued at $714,000 after buying an additional 2,189 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MDT has been the topic of several analyst reports. Wall Street Zen lowered shares of Medtronic from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Royal Bank Of Canada lowered their target price 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. Leerink Partnrs raised shares of Medtronic to a "strong-buy" rating in a research note on Monday. Mizuho lowered their target price on shares of Medtronic from $100.00 to $98.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Finally, Leerink Partners initiated coverage on shares of Medtronic in a research note on Monday. They issued an "outperform" rating and a $110.00 target price for the company. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $97.87.

Medtronic Stock Down 0.6%

Shares of MDT stock opened at $85.68 on Friday. The firm has a fifty day moving average of $84.42 and a 200-day moving average of $86.26. The company has a quick ratio of 1.42, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. Medtronic PLC has a 12-month low of $75.96 and a 12-month high of $96.25. The company has a market capitalization of $109.88 billion, a price-to-earnings ratio of 23.67, a P/E/G ratio of 2.31 and a beta of 0.79.

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 for the quarter, beating analysts' consensus estimates of $1.58 by $0.04. The business had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.81 billion. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The firm's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.46 earnings per share. As a group, equities research analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be given a $0.71 dividend. The ex-dividend date is Friday, June 27th. This represents a $2.84 dividend on an annualized basis and a yield of 3.31%. This is an increase from Medtronic's previous quarterly dividend of $0.70. Medtronic's dividend payout ratio (DPR) is 77.35%.

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.

Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic PLC (NYSE:MDT - Free Report).

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.