Medtronic PLC (NYSE:MDT) Shares Acquired by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. raised its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 1.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 359,331 shares of the medical technology company's stock after purchasing an additional 3,923 shares during the period. Crossmark Global Holdings Inc.'s holdings in Medtronic were worth $32,290,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Dunhill Financial LLC grew its holdings in Medtronic by 17.2% in the first quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company's stock valued at $76,000 after purchasing an additional 124 shares during the period. Cidel Asset Management Inc. grew its holdings in Medtronic by 1.3% in the first quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company's stock valued at $856,000 after purchasing an additional 126 shares during the period. Petros Family Wealth LLC lifted its position in shares of Medtronic by 4.3% in the first quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company's stock valued at $280,000 after acquiring an additional 127 shares in the last quarter. Faithward Advisors LLC lifted its position in shares of Medtronic by 2.7% in the fourth quarter. Faithward Advisors LLC now owns 5,043 shares of the medical technology company's stock valued at $403,000 after acquiring an additional 134 shares in the last quarter. Finally, Vestor Capital LLC lifted its position in shares of Medtronic by 0.3% in the fourth quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company's stock valued at $4,104,000 after acquiring an additional 138 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MDT. Robert W. Baird decreased their target price on Medtronic from $94.00 to $92.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Wall Street Zen upgraded Medtronic from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Royal Bank Of Canada decreased their target price on Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. Truist Financial decreased their target price on Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. Finally, Leerink Partnrs upgraded Medtronic to a "strong-buy" rating in a research report on Monday, June 16th. Nine 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. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $98.00.

Medtronic Trading Up 1.4%

Medtronic stock traded up $1.24 during trading on Tuesday, reaching $88.91. 1,406,500 shares of the company were exchanged, compared to its average volume of 6,978,271. Medtronic PLC has a 52-week low of $75.96 and a 52-week high of $96.25. The company has a market capitalization of $114.03 billion, a P/E ratio of 24.55, a PEG ratio of 2.39 and a beta of 0.80. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42. The stock's 50 day simple moving average is $85.37 and its two-hundred day simple moving average is $86.68.

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

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Friday, June 27th. This is a positive change from Medtronic's previous quarterly dividend of $0.70. Medtronic's dividend payout ratio is 78.45%.

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.