Brookwood Investment Group LLC Takes Position in Medtronic PLC (NYSE:MDT)

Brookwood Investment Group LLC bought a new position in shares of Medtronic PLC (NYSE:MDT - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,699 shares of the medical technology company's stock, valued at approximately $692,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Burkett Financial Services LLC boosted 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 worth $26,000 after acquiring an additional 185 shares during the period. Wood Tarver Financial Group LLC purchased a new position in Medtronic during the 4th quarter valued at $27,000. Columbia River Financial Group LLC purchased a new position in shares of Medtronic in the 1st quarter valued at approximately $28,000. Optiver Holding B.V. purchased a new position in shares of Medtronic during the fourth quarter valued at approximately $31,000. Finally, Hughes Financial Services LLC bought a new stake in Medtronic during the 1st quarter valued at about $32,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Trading Up 0.6%

NYSE:MDT traded up $0.59 during trading hours on Friday, hitting $92.91. The company had a trading volume of 5,264,531 shares, compared to its average volume of 7,082,213. The company has a 50-day moving average of $87.04 and a 200 day moving average of $87.53. The company has a market cap of $119.16 billion, a P/E ratio of 25.66, a P/E/G ratio of 2.40 and a beta of 0.80. 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 PLC has a 1 year low of $78.32 and a 1 year high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.58 by $0.04. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The firm had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.81 billion. During the same period in the prior year, the business posted $1.46 EPS. The business's revenue for the quarter was up 3.9% compared to the same quarter last year. Sell-side analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.06%. This is a positive change from Medtronic's previous quarterly dividend of $0.70. Medtronic's dividend payout ratio is currently 78.45%.

Wall Street Analyst Weigh In

MDT has been the topic of a number of recent research reports. Royal Bank Of Canada lowered their target price on Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Morgan Stanley restated an "overweight" rating and set a $107.00 price target (up previously from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Leerink Partners began coverage on shares of Medtronic in a research note on Monday, June 16th. They issued an "outperform" rating and a $110.00 price target on the stock. Mizuho raised their price objective on Medtronic from $98.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Finally, Wolfe Research upgraded Medtronic from an "underperform" rating to a "peer perform" rating in a research note on Monday, June 30th. Eleven 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $98.19.

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.