Medtronic PLC (NYSE:MDT) Shares Sold by Brown Advisory Inc.

Brown Advisory Inc. trimmed its position in Medtronic PLC (NYSE:MDT - Free Report) by 74.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 282,944 shares of the medical technology company's stock after selling 842,085 shares during the quarter. Brown Advisory Inc.'s holdings in Medtronic were worth $25,425,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. TCTC Holdings LLC increased its stake in Medtronic by 3.4% during the fourth quarter. TCTC Holdings LLC now owns 39,718 shares of the medical technology company's stock worth $3,173,000 after acquiring an additional 1,301 shares during the last quarter. Brighton Jones LLC increased its stake in 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 increased its stake in 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 increased 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 worth $2,425,000 after acquiring an additional 22,300 shares during the last quarter. Finally, Insight Inv LLC increased its stake in Medtronic by 84.2% during the first quarter. Insight Inv LLC now owns 27,456 shares of the medical technology company's stock worth $2,467,000 after acquiring an additional 12,550 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Medtronic Trading Up 0.4%

MDT traded up $0.39 on Thursday, hitting $89.39. The company had a trading volume of 7,938,684 shares, compared to its average volume of 6,996,726. 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 firm has a market cap of $114.65 billion, a P/E ratio of 24.69, a PEG ratio of 2.39 and a beta of 0.80. The company's fifty day moving average price is $85.54 and its 200 day moving average price is $86.71. Medtronic PLC has a 1 year low of $76.33 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. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The company 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 firm earned $1.46 earnings per share. The business's revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, equities analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.18%. This is a positive change from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, June 27th. Medtronic's dividend payout ratio is presently 78.45%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MDT shares. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research report on Friday, June 6th. Mizuho cut their price objective on Medtronic from $100.00 to $98.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. Royal Bank Of Canada cut their price target on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Leerink Partnrs upgraded shares of Medtronic to a "strong-buy" rating in a report on Monday, June 16th. Finally, Wolfe Research upgraded shares of Medtronic from an "underperform" rating to a "peer perform" rating in a research note on Monday, June 30th. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $97.47.

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.