D Orazio & Associates Inc. Makes New Investment in Medtronic plc (NYSE:MDT)

D Orazio & Associates Inc. acquired a new stake in Medtronic plc (NYSE:MDT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 3,978 shares of the medical technology company's stock, valued at approximately $357,000.

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

Medtronic Trading Up 0.8%

MDT stock traded up $0.66 during trading on Monday, reaching $87.93. 2,440,846 shares of the stock traded hands, compared to its average volume of 6,869,676. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The business's 50 day moving average price is $84.21 and its 200-day moving average price is $86.26. The firm has a market capitalization of $112.77 billion, a PE ratio of 26.72, a P/E/G ratio of 2.22 and a beta of 0.79. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.58 by $0.04. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The firm had revenue of $8.93 billion for the quarter, compared to analysts' expectations of $8.81 billion. During the same quarter in the previous year, the company earned $1.46 earnings per share. The firm's quarterly revenue was up 3.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given a $0.71 dividend. This is an increase from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date is Friday, June 27th. This represents a $2.84 dividend on an annualized basis and a yield of 3.23%. Medtronic's dividend payout ratio is presently 78.45%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MDT. Robert W. Baird dropped their price target on Medtronic from $94.00 to $92.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and increased their price target for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research note on Friday, June 6th. Leerink Partners assumed coverage on shares of Medtronic in a research note on Monday. They set an "outperform" rating and a $110.00 target price for the company. Finally, Mizuho cut their price target on shares of Medtronic from $100.00 to $98.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $97.87.

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.