Diversify Advisory Services LLC Sells 6,216 Shares of Medtronic PLC (NYSE:MDT)

Diversify Advisory Services LLC decreased its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 19.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,498 shares of the medical technology company's stock after selling 6,216 shares during the quarter. Diversify Advisory Services LLC's holdings in Medtronic were worth $2,242,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Burkett Financial Services LLC grew its position in shares of Medtronic by 185.0% in the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock worth $26,000 after acquiring an additional 185 shares in the last quarter. Wood Tarver Financial Group LLC acquired a new stake in shares of Medtronic during the fourth quarter worth $27,000. Columbia River Financial Group LLC acquired a new stake in shares of Medtronic during the 1st quarter valued at about $28,000. Optiver Holding B.V. bought a new stake in Medtronic during the 4th quarter valued at approximately $31,000. Finally, Hughes Financial Services LLC acquired a new position in Medtronic in the 1st quarter valued at approximately $32,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Evercore ISI raised their price objective on Medtronic from $103.00 to $106.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Wall Street Zen raised Medtronic from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. BTIG Research restated a "neutral" rating on shares of Medtronic in a research note on Friday, July 11th. Leerink Partners initiated coverage on Medtronic in a research note on Monday, June 16th. They set an "outperform" rating and a $110.00 target price for the company. Finally, Leerink Partnrs raised Medtronic to a "strong-buy" rating in a report on Monday, June 16th. Eleven analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Medtronic presently has a consensus rating of "Moderate Buy" and a consensus target price of $98.19.

Medtronic Stock Up 0.7%

NYSE MDT traded up $0.61 during mid-day trading on Monday, reaching $90.22. The stock had a trading volume of 1,085,036 shares, compared to its average volume of 6,992,555. Medtronic PLC has a 1 year low of $78.32 and a 1 year high of $96.25. The stock has a market cap of $115.71 billion, a PE ratio of 24.92, a price-to-earnings-growth ratio of 2.33 and a beta of 0.80. The company has a fifty day moving average price of $86.41 and a 200 day moving average price of $87.23. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.04. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The company had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.81 billion. During the same period in the previous year, the business earned $1.46 EPS. The firm's revenue for the quarter was up 3.9% on a year-over-year basis. On average, research analysts expect 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 was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 3.15%. This is a positive change from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, June 27th. Medtronic's dividend payout ratio is 78.45%.

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.