Dynamic Advisor Solutions LLC Has $2.68 Million Holdings in Medtronic plc (NYSE:MDT)

Dynamic Advisor Solutions LLC raised its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 49.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,764 shares of the medical technology company's stock after buying an additional 9,873 shares during the period. Dynamic Advisor Solutions LLC's holdings in Medtronic were worth $2,675,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in MDT. Brighton Jones LLC increased its stake in Medtronic by 1,368.0% in the 4th 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 in the last quarter. Valeo Financial Advisors LLC increased its position in shares of Medtronic by 3.1% in the fourth quarter. Valeo Financial Advisors LLC now owns 18,342 shares of the medical technology company's stock worth $1,465,000 after acquiring an additional 544 shares in the last quarter. TigerOak Management L.L.C. acquired a new stake in shares of Medtronic during the fourth quarter valued at approximately $361,000. Principal Securities Inc. lifted its position in shares of Medtronic by 24.5% in the 4th quarter. Principal Securities Inc. now owns 59,314 shares of the medical technology company's stock valued at $4,738,000 after acquiring an additional 11,658 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in Medtronic by 42.5% in the 4th quarter. Allworth Financial LP now owns 40,408 shares of the medical technology company's stock worth $3,549,000 after purchasing an additional 12,055 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MDT shares. Leerink Partners began coverage on shares of Medtronic in a research note on Monday. They set an "outperform" rating and a $110.00 target price on the stock. Mizuho lowered their price target on Medtronic from $100.00 to $98.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Robert W. Baird reduced their price objective on Medtronic from $94.00 to $92.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. UBS Group raised their price objective on Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Finally, Citigroup upgraded Medtronic from a "neutral" rating to a "buy" rating and upped their target price for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $97.87.

Medtronic Stock Up 0.7%

MDT stock traded up $0.65 during midday trading on Monday, hitting $87.92. The company's stock had a trading volume of 8,409,874 shares, compared to its average volume of 7,729,121. The company's fifty day moving average price is $84.21 and its 200 day moving average price is $86.26. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25. The stock has a market capitalization of $112.76 billion, a P/E ratio of 26.72, a PEG ratio of 2.22 and a beta of 0.79.

Medtronic (NYSE:MDT - Get Free Report) last released its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (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 business had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.81 billion. During the same quarter in the prior year, the company posted $1.46 earnings per share. Medtronic's revenue was up 3.9% on a year-over-year basis. As a group, equities research analysts predict that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Increases Dividend

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