Chicago Capital LLC Buys 7,024 Shares of Medtronic PLC (NYSE:MDT)

Chicago Capital LLC raised its position in Medtronic PLC (NYSE:MDT - Free Report) by 152.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,624 shares of the medical technology company's stock after acquiring an additional 7,024 shares during the quarter. Chicago Capital LLC's holdings in Medtronic were worth $1,045,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mainstream Capital Management LLC purchased a new stake in shares of Medtronic in the 4th quarter worth $26,000. Burkett Financial Services LLC grew its holdings in Medtronic by 185.0% during the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock valued at $26,000 after purchasing an additional 185 shares during the period. Rakuten Securities Inc. increased its position in Medtronic by 753.8% in the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock worth $27,000 after buying an additional 294 shares in the last quarter. Wood Tarver Financial Group LLC bought a new position in shares of Medtronic in the fourth quarter worth about $27,000. Finally, Optiver Holding B.V. bought a new position in shares of Medtronic in the fourth quarter worth about $31,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Trading Down 0.6%

Shares of NYSE:MDT traded down $0.49 during trading hours on Thursday, hitting $85.68. 8,514,360 shares of the company's stock traded hands, compared to its average volume of 6,904,198. The firm has a market capitalization of $109.88 billion, a P/E ratio of 23.67, a price-to-earnings-growth ratio of 2.31 and a beta of 0.79. The business has a fifty day moving average price of $84.35 and a 200-day moving average price of $86.26. Medtronic PLC has a 1 year low of $75.96 and a 1 year high of $96.25. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42.

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. The firm had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.81 billion. Medtronic had a return on equity of 14.54% and a net margin of 13.90%. Medtronic's quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the company earned $1.46 EPS. Equities analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 3.31%. This is an increase 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 (DPR) is 77.35%.

Wall Street Analyst Weigh In

MDT has been the topic of a number of recent analyst reports. Leerink Partnrs upgraded shares of Medtronic to a "strong-buy" rating in a research note on Monday. Royal Bank Of Canada decreased their price objective on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. Wall Street Zen cut Medtronic from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. UBS Group increased their target price on Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Finally, Robert W. Baird cut their price objective on shares of Medtronic from $94.00 to $92.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. 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's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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.