Financial Counselors Inc. Has $19.96 Million Stock Position in Medtronic PLC (NYSE:MDT)

Financial Counselors Inc. lifted its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 10.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 222,150 shares of the medical technology company's stock after purchasing an additional 21,207 shares during the quarter. Financial Counselors Inc.'s holdings in Medtronic were worth $19,962,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the company. YANKCOM Partnership boosted its stake in Medtronic by 7.1% during the first quarter. YANKCOM Partnership now owns 15,422 shares of the medical technology company's stock valued at $1,386,000 after buying an additional 1,019 shares in the last quarter. Callan Capital LLC boosted its stake in Medtronic by 45.1% during the first quarter. Callan Capital LLC now owns 5,619 shares of the medical technology company's stock valued at $505,000 after buying an additional 1,746 shares in the last quarter. TD Private Client Wealth LLC boosted its stake in Medtronic by 68.9% during the first quarter. TD Private Client Wealth LLC now owns 98,425 shares of the medical technology company's stock valued at $8,844,000 after buying an additional 40,151 shares in the last quarter. Capital Advisors Inc. OK boosted its stake in Medtronic by 36.5% during the first quarter. Capital Advisors Inc. OK now owns 453,458 shares of the medical technology company's stock valued at $40,748,000 after buying an additional 121,185 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Medtronic by 20.1% during the first quarter. Envestnet Asset Management Inc. now owns 5,269,066 shares of the medical technology company's stock valued at $473,478,000 after buying an additional 881,640 shares in the last quarter. Institutional investors own 82.06% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on MDT shares. Truist Financial reduced their target price on Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a report on Friday, April 11th. Citigroup upped their target price on Medtronic from $98.00 to $99.00 and gave the company a "buy" rating in a report on Wednesday. Wolfe Research raised Medtronic from an "underperform" rating to a "peer perform" rating in a report on Monday, June 30th. Evercore ISI upped their target price on Medtronic from $103.00 to $106.00 and gave the company an "outperform" rating in a report on Tuesday. Finally, Robert W. Baird reduced their target price on Medtronic from $94.00 to $92.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $97.47.

Medtronic Stock Up 0.4%

Medtronic stock traded up $0.39 during mid-day trading on Thursday, hitting $89.39. The company's stock had a trading volume of 7,936,232 shares, compared to its average volume of 6,996,671. 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 PLC has a 52-week low of $76.33 and a 52-week high of $96.25. The firm's 50 day moving average is $85.54 and its 200 day moving average is $86.71. The company has a market cap of $114.65 billion, a PE ratio of 24.69, a price-to-earnings-growth ratio of 2.39 and a beta of 0.80.

Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.04. The company had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.81 billion. Medtronic had a return on equity of 14.54% and a net margin of 13.90%. The business's revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.46 EPS. On average, analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.84 dividend on an annualized basis and a yield of 3.18%. This is a positive change from Medtronic's previous quarterly dividend of $0.70. Medtronic's dividend payout ratio (DPR) is 78.45%.

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.