Farther Finance Advisors LLC Buys 3,530 Shares of Medtronic plc (NYSE:MDT)

Farther Finance Advisors LLC increased its position in Medtronic plc (NYSE:MDT - Free Report) by 6.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 61,052 shares of the medical technology company's stock after purchasing an additional 3,530 shares during the quarter. Farther Finance Advisors LLC's holdings in Medtronic were worth $5,402,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. City Holding Co. raised its holdings in shares of Medtronic by 2.1% in the 1st quarter. City Holding Co. now owns 11,107 shares of the medical technology company's stock valued at $998,000 after purchasing an additional 226 shares during the period. Millington Financial Advisors LLC raised its holdings in shares of Medtronic by 6.7% in the 1st quarter. Millington Financial Advisors LLC now owns 22,903 shares of the medical technology company's stock valued at $1,899,000 after purchasing an additional 1,447 shares during the period. Daymark Wealth Partners LLC raised its holdings in shares of Medtronic by 7.5% in the 1st quarter. Daymark Wealth Partners LLC now owns 46,258 shares of the medical technology company's stock valued at $4,157,000 after purchasing an additional 3,221 shares during the period. CHICAGO TRUST Co NA raised its holdings in shares of Medtronic by 1.6% in the 1st quarter. CHICAGO TRUST Co NA now owns 10,682 shares of the medical technology company's stock valued at $960,000 after purchasing an additional 166 shares during the period. Finally, Great Waters Wealth Management raised its holdings in shares of Medtronic by 22.0% in the 1st quarter. Great Waters Wealth Management now owns 15,178 shares of the medical technology company's stock valued at $1,364,000 after purchasing an additional 2,739 shares during the period. 82.06% of the stock is owned by institutional investors.

Medtronic Stock Performance

Shares of NYSE:MDT traded down $1.30 on Friday, reaching $87.19. 6,008,318 shares of the company's stock were exchanged, compared to its average volume of 6,874,071. The company has a fifty day moving average of $84.10 and a 200-day moving average of $86.25. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25. The company has a market capitalization of $111.83 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 2.22 and a beta of 0.79. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results 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 12.83% and a return on equity of 14.07%. The company had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.81 billion. During the same quarter in the prior year, the firm posted $1.46 EPS. The firm's quarterly revenue was up 3.9% on a year-over-year basis. On average, research analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date is Friday, June 27th. This is an increase from Medtronic's previous quarterly dividend of $0.70. Medtronic's dividend payout ratio is 78.45%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MDT shares. Robert W. Baird dropped their target price on shares of Medtronic from $94.00 to $92.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. UBS Group upped their price target on shares of Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research note on Friday, June 6th. Truist Financial decreased their price target on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Finally, Royal Bank of Canada decreased their price target on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. Nine equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $97.00.

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.