Cambridge Investment Research Advisors Inc. Has $15.86 Million Holdings in Medtronic PLC (NYSE:MDT)

Cambridge Investment Research Advisors Inc. increased its position in Medtronic PLC (NYSE:MDT - Free Report) by 16.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 176,438 shares of the medical technology company's stock after acquiring an additional 24,777 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Medtronic were worth $15,855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Medtronic during the 4th quarter valued at about $1,163,580,000. Raymond James Financial Inc. acquired a new stake in shares of Medtronic during the 4th quarter valued at about $852,732,000. Beutel Goodman & Co Ltd. acquired a new stake in Medtronic in the 4th quarter worth about $377,169,000. Invesco Ltd. boosted its holdings in Medtronic by 17.8% in the 4th quarter. Invesco Ltd. now owns 15,445,284 shares of the medical technology company's stock worth $1,233,769,000 after buying an additional 2,333,600 shares during the last quarter. Finally, Burgundy Asset Management Ltd. acquired a new stake in Medtronic in the 4th quarter worth about $174,329,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Price Performance

Shares of NYSE MDT traded down $0.03 during midday trading on Wednesday, reaching $86.05. The company's stock had a trading volume of 8,461,675 shares, compared to its average volume of 6,942,421. 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 company has a 50 day moving average price of $84.67 and a 200 day moving average price of $86.29. Medtronic PLC has a one year low of $75.96 and a one year high of $96.25. The company has a market cap of $110.36 billion, a price-to-earnings ratio of 23.77, a price-to-earnings-growth ratio of 2.32 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 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 business had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.81 billion. During the same period in the previous year, the firm earned $1.46 EPS. The business's revenue for the quarter was up 3.9% on a year-over-year basis. On average, equities research analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, June 27th. This is an increase from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a yield of 3.30%. Medtronic's payout ratio is presently 77.35%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Robert W. Baird reduced their price target on shares of Medtronic from $94.00 to $92.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Mizuho dropped their price target 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. 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 for the company. Royal Bank Of Canada dropped their price target 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. Finally, Wall Street Zen upgraded shares of Medtronic from a "hold" rating to a "buy" rating in a research note on Saturday. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $97.87.

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.