Medtronic PLC (NYSE:MDT) Shares Bought by Cwm LLC

CWM LLC increased its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 7.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 292,896 shares of the medical technology company's stock after purchasing an additional 19,438 shares during the quarter. CWM LLC's holdings in Medtronic were worth $26,320,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. TCTC Holdings LLC grew its position in shares of Medtronic by 3.4% in the 4th quarter. TCTC Holdings LLC now owns 39,718 shares of the medical technology company's stock worth $3,173,000 after buying an additional 1,301 shares during the last quarter. Brighton Jones LLC grew its holdings in Medtronic by 1,368.0% in the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock worth $3,194,000 after purchasing an additional 37,265 shares during the last quarter. Oxford Asset Management LLP grew its holdings in Medtronic by 70.1% in the fourth quarter. Oxford Asset Management LLP now owns 7,442 shares of the medical technology company's stock worth $594,000 after purchasing an additional 3,068 shares during the last quarter. New Vernon Investment Management LLC increased its position in shares of 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 purchasing an additional 22,300 shares in the last quarter. Finally, Insight Inv LLC lifted its holdings in shares of Medtronic by 84.2% during the 1st quarter. Insight Inv LLC now owns 27,456 shares of the medical technology company's stock valued at $2,467,000 after purchasing an additional 12,550 shares during the last quarter. Institutional investors own 82.06% of the company's stock.

Wall Street Analyst Weigh In

MDT has been the topic of several research analyst reports. Robert W. Baird dropped their target price on Medtronic from $94.00 to $92.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Mizuho lowered their price target on Medtronic from $100.00 to $98.00 and set an "outperform" rating for the company in a report on Thursday, May 22nd. Leerink Partnrs upgraded Medtronic to a "strong-buy" rating in a research note on Monday, June 16th. Royal Bank Of Canada decreased their price objective on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. Finally, Citigroup lifted their target price on shares of Medtronic from $98.00 to $99.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Ten analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned 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 a consensus price target of $97.47.

Medtronic Stock Performance

Shares of Medtronic stock traded down $0.20 during trading on Monday, hitting $89.73. 8,911,756 shares of the company's stock were exchanged, compared to its average volume of 7,831,454. The stock has a market capitalization of $115.08 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 2.33 and a beta of 0.80. The business has a 50-day simple moving average of $85.77 and a 200-day simple moving average of $86.89. Medtronic PLC has a 52-week low of $76.68 and a 52-week high of $96.25. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.42 and a current ratio of 1.85.

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

Medtronic Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were issued a $0.71 dividend. The ex-dividend date was 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 3.17%. Medtronic's payout ratio is presently 78.45%.

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.