DLK Investment Management LLC Acquires 3,947 Shares of Medtronic PLC (NYSE:MDT)

DLK Investment Management LLC boosted its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 8.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,580 shares of the medical technology company's stock after buying an additional 3,947 shares during the quarter. Medtronic makes up approximately 1.9% of DLK Investment Management LLC's portfolio, making the stock its 24th biggest position. DLK Investment Management LLC's holdings in Medtronic were worth $4,635,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MDT. Dunhill Financial LLC increased its holdings in shares of Medtronic by 17.2% in the first quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company's stock worth $76,000 after buying an additional 124 shares during the period. Petros Family Wealth LLC increased its holdings 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 worth $280,000 after buying an additional 127 shares during the period. Faithward Advisors LLC increased its holdings 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 worth $403,000 after buying an additional 134 shares during the period. Vestor Capital LLC increased its holdings 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 worth $4,104,000 after buying an additional 138 shares during the period. Finally, L. Roy Papp & Associates LLP grew its stake in shares of Medtronic by 2.8% in the first quarter. L. Roy Papp & Associates LLP now owns 5,099 shares of the medical technology company's stock worth $458,000 after purchasing an additional 138 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MDT has been the topic of several recent analyst reports. Wall Street Zen raised Medtronic from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Leerink Partners initiated coverage on Medtronic in a research note on Monday, June 16th. They issued an "outperform" rating and a $110.00 target price on the stock. Mizuho cut their target price on Medtronic from $100.00 to $98.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. Leerink Partnrs raised Medtronic to a "strong-buy" rating in a research note on Monday, June 16th. Finally, Truist Financial cut their target price on Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Medtronic has a consensus rating of "Moderate Buy" and a consensus target price of $97.87.

Medtronic Stock Up 0.0%

NYSE MDT traded up $0.01 during mid-day trading on Friday, reaching $86.19. The stock had a trading volume of 10,133,590 shares, compared to its average volume of 6,964,487. Medtronic PLC has a 1 year low of $75.96 and a 1 year high of $96.25. The stock has a market cap of $110.54 billion, a PE ratio of 23.81, a price-to-earnings-growth ratio of 2.32 and a beta of 0.79. The company has a fifty day moving average price of $84.82 and a 200 day moving average price of $86.38. 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 earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, beating analysts' consensus estimates of $1.58 by $0.04. The business had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.81 billion. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The company's quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.46 EPS. 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 announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, June 27th. This is a positive change from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a yield of 3.29%. Medtronic's payout ratio is currently 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.