Davidson Investment Advisors Has $33.52 Million Holdings in Medtronic PLC (NYSE:MDT)

Davidson Investment Advisors grew its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 3.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 373,039 shares of the medical technology company's stock after acquiring an additional 11,017 shares during the period. Medtronic accounts for approximately 1.7% of Davidson Investment Advisors' holdings, making the stock its 12th largest position. Davidson Investment Advisors' holdings in Medtronic were worth $33,521,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Dunhill Financial LLC grew its stake in Medtronic by 17.2% in the 1st quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company's stock valued at $76,000 after buying an additional 124 shares during the last quarter. Cidel Asset Management Inc. grew its stake in Medtronic by 1.3% in the 1st quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company's stock valued at $856,000 after buying an additional 126 shares during the last quarter. Petros Family Wealth LLC grew its stake in Medtronic by 4.3% in the 1st quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company's stock valued at $280,000 after buying an additional 127 shares during the last quarter. Faithward Advisors LLC boosted its holdings in Medtronic by 2.7% in the 4th quarter. Faithward Advisors LLC now owns 5,043 shares of the medical technology company's stock valued at $403,000 after purchasing an additional 134 shares during the period. Finally, Vestor Capital LLC boosted its holdings in Medtronic by 0.3% in the 4th quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company's stock valued at $4,104,000 after purchasing an additional 138 shares during the period. 82.06% of the stock is owned by institutional investors.

Medtronic Price Performance

Shares of Medtronic stock traded up $0.54 during mid-day trading on Wednesday, reaching $89.12. 4,673,089 shares of the stock were exchanged, compared to its average volume of 6,992,862. The company has a market cap of $114.30 billion, a price-to-earnings ratio of 24.62, a price-to-earnings-growth ratio of 2.39 and a beta of 0.80. The company has a current ratio of 1.85, a quick ratio of 1.42 and a debt-to-equity ratio of 0.53. The firm has a 50-day simple moving average of $85.54 and a 200 day simple moving average of $86.71. Medtronic PLC has a fifty-two week low of $76.33 and a fifty-two 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $0.04. The business had revenue of $8.93 billion during 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 for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the company posted $1.46 EPS. On average, sell-side analysts predict that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Increases Dividend

The company also recently announced 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. The ex-dividend date is Friday, June 27th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.19%. This is a boost from Medtronic's previous quarterly dividend of $0.70. Medtronic's dividend payout ratio (DPR) is 78.45%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Citigroup increased their price target on shares of Medtronic from $98.00 to $99.00 and gave the company a "buy" rating in a report on Wednesday. Leerink Partners assumed coverage on shares of Medtronic in a report on Monday, June 16th. They issued an "outperform" rating and a $110.00 price target for the company. Truist Financial reduced their price target on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a report on Friday, April 11th. Robert W. Baird reduced their price target 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. Finally, Wall Street Zen raised shares of Medtronic from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Nine equities research 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 stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $97.47.

Medtronic Company 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.