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

Financial Counselors Inc. grew its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 10.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 222,150 shares of the medical technology company's stock after buying 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 Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Brighton Jones LLC lifted its holdings 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 during the last quarter. Proficio Capital Partners LLC acquired a new stake in Medtronic in the 4th quarter worth approximately $13,132,000. Vestmark Advisory Solutions Inc. lifted its holdings in Medtronic by 33.1% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 4,408 shares of the medical technology company's stock worth $352,000 after purchasing an additional 1,095 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its position in Medtronic by 68.5% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 22,576 shares of the medical technology company's stock worth $1,819,000 after buying an additional 9,181 shares during the period. Finally, Andra AP fonden boosted its position in shares of Medtronic by 153.3% in the fourth quarter. Andra AP fonden now owns 46,929 shares of the medical technology company's stock valued at $3,749,000 after acquiring an additional 28,400 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MDT has been the subject of several research reports. Truist Financial reduced their price objective on Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Royal Bank Of Canada reduced their price objective on Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. Leerink Partners initiated coverage on Medtronic in a research report on Monday, June 16th. They issued an "outperform" rating and a $110.00 price objective for the company. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research report on Friday, June 6th. Finally, Wall Street Zen raised Medtronic from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Nine investment 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. According to MarketBeat.com, Medtronic presently has an average rating of "Moderate Buy" and a consensus target price of $98.00.

Medtronic Price Performance

Medtronic stock traded up $0.03 during mid-day trading on Wednesday, hitting $88.61. 2,057,065 shares of the company were exchanged, compared to its average volume of 6,979,625. 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 business has a fifty day moving average of $85.45 and a 200 day moving average of $86.69. Medtronic PLC has a 1-year low of $75.96 and a 1-year high of $96.25. The company has a market capitalization of $113.64 billion, a PE ratio of 24.47, a price-to-earnings-growth ratio of 2.37 and a beta of 0.80.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data 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 14.54% and a net margin of 13.90%. The firm had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.81 billion. During the same period in the prior year, the company posted $1.46 earnings per share. The business's revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, sell-side analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Increases Dividend

The business also recently disclosed 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. This is a positive change from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a yield of 3.21%. The ex-dividend date is Friday, June 27th. Medtronic's dividend 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.