Envestnet Portfolio Solutions Inc. Has $16 Million Stock Holdings in Medtronic PLC (NYSE:MDT)

Envestnet Portfolio Solutions Inc. cut its position in Medtronic PLC (NYSE:MDT - Free Report) by 6.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 178,025 shares of the medical technology company's stock after selling 12,912 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Medtronic were worth $15,997,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Boston Trust Walden Corp grew its stake in shares of Medtronic by 6.0% in the 1st quarter. Boston Trust Walden Corp now owns 141,389 shares of the medical technology company's stock valued at $12,705,000 after buying an additional 8,047 shares during the period. Global X Japan Co. Ltd. grew its stake in shares of Medtronic by 17.4% in the 1st quarter. Global X Japan Co. Ltd. now owns 6,713 shares of the medical technology company's stock valued at $603,000 after buying an additional 996 shares during the period. Beacon Capital Management LLC grew its stake in shares of Medtronic by 45.8% in the 1st quarter. Beacon Capital Management LLC now owns 500 shares of the medical technology company's stock valued at $45,000 after buying an additional 157 shares during the period. Aspiriant LLC acquired a new stake in shares of Medtronic in the 1st quarter valued at about $306,000. Finally, State of Alaska Department of Revenue grew its stake in shares of Medtronic by 2.1% in the 1st quarter. State of Alaska Department of Revenue now owns 190,206 shares of the medical technology company's stock valued at $17,091,000 after buying an additional 3,995 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Price Performance

Medtronic stock opened at $85.68 on Friday. Medtronic PLC has a 52 week low of $75.96 and a 52 week high of $96.25. The company's 50 day moving average price is $84.42 and its two-hundred day moving average price is $86.26. The company has a quick ratio of 1.42, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. The stock has a market cap of $109.88 billion, a P/E ratio of 23.67, a P/E/G ratio of 2.31 and a beta of 0.79.

Medtronic (NYSE:MDT - Get Free Report) last posted 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 net margin of 13.90% and a return on equity of 14.54%. The firm had revenue of $8.93 billion for the quarter, compared to analysts' expectations of $8.81 billion. During the same quarter last year, the firm earned $1.46 EPS. The company's quarterly revenue was up 3.9% compared to the same quarter last year. On average, equities analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend is Friday, June 27th. This is a boost from Medtronic's previous quarterly dividend of $0.70. Medtronic's payout ratio is 77.35%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on MDT shares. Leerink Partners started coverage on Medtronic in a research note on Monday. They set an "outperform" rating and a $110.00 price target for the company. Mizuho cut their price target on Medtronic from $100.00 to $98.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Royal Bank Of Canada cut their price target on Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Leerink Partnrs upgraded Medtronic to a "strong-buy" rating in a research note on Monday. Finally, Wall Street Zen downgraded Medtronic from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $97.87.

Medtronic 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.

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