Medtronic PLC (NYSE:MDT) Shares Purchased by Continuum Advisory LLC

Continuum Advisory LLC boosted its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 145.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 16,721 shares of the medical technology company's stock after purchasing an additional 9,921 shares during the period. Continuum Advisory LLC's holdings in Medtronic were worth $1,503,000 as of its most recent filing with the SEC.

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

Medtronic Price Performance

Shares of MDT stock traded down $0.32 during mid-day trading on Monday, reaching $86.02. The stock had a trading volume of 6,746,449 shares, compared to its average volume of 6,910,598. The company has a market cap of $110.32 billion, a P/E ratio of 23.76, a price-to-earnings-growth ratio of 2.33 and a beta of 0.79. 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 12-month low of $75.96 and a 12-month high of $96.25. The business has a 50-day simple moving average of $84.49 and a 200 day simple moving average of $86.28.

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, beating analysts' consensus estimates of $1.58 by $0.04. The firm had revenue of $8.93 billion for the quarter, compared to analysts' expectations of $8.81 billion. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The firm's revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.46 EPS. On average, sell-side analysts anticipate 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 will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be given a dividend of $0.71 per share. This is an increase from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend is Friday, June 27th. Medtronic's payout ratio is currently 77.35%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MDT. Leerink Partnrs upgraded shares of Medtronic to a "strong-buy" rating in a research report on Monday, June 16th. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a report on Friday, June 6th. Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and raised their price objective for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Leerink Partners began coverage on Medtronic in a research report on Monday, June 16th. They set an "outperform" rating and a $110.00 target price on the stock. Finally, Robert W. Baird cut their target price on Medtronic from $94.00 to $92.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus 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.