First Horizon Advisors Inc. Sells 10,056 Shares of Medtronic PLC (NYSE:MDT)

First Horizon Advisors Inc. reduced its position in Medtronic PLC (NYSE:MDT - Free Report) by 45.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,993 shares of the medical technology company's stock after selling 10,056 shares during the quarter. First Horizon Advisors Inc.'s holdings in Medtronic were worth $1,078,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of MDT. Dunhill Financial LLC increased its stake in shares of Medtronic by 17.2% in the first quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company's stock worth $76,000 after acquiring an additional 124 shares during the period. Cidel Asset Management Inc. boosted its holdings in Medtronic by 1.3% in the first quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company's stock valued at $856,000 after purchasing an additional 126 shares during the last quarter. Petros Family Wealth LLC grew its position in Medtronic by 4.3% during the 1st quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company's stock worth $280,000 after purchasing an additional 127 shares during the period. Faithward Advisors LLC raised its stake in shares of Medtronic by 2.7% during the 4th quarter. Faithward Advisors LLC now owns 5,043 shares of the medical technology company's stock valued at $403,000 after buying an additional 134 shares during the last quarter. Finally, Vestor Capital LLC lifted its holdings in shares of Medtronic by 0.3% in the 4th quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company's stock valued at $4,104,000 after buying an additional 138 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Up 0.2%

MDT opened at $88.50 on Friday. The company has a market cap of $113.50 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 2.39 and a beta of 0.80. Medtronic PLC has a twelve month low of $75.96 and a twelve month high of $96.25. The company has a 50-day moving average price of $85.30 and a 200 day moving average price of $86.54. The company has a quick ratio of 1.42, a current ratio of 1.85 and a debt-to-equity ratio of 0.53.

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

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be paid a $0.71 dividend. This is an increase 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%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Wolfe Research raised Medtronic from an "underperform" rating to a "peer perform" rating in a report on Monday, June 30th. Mizuho dropped their price objective on shares of Medtronic from $100.00 to $98.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research note on Friday, June 6th. Wall Street Zen raised shares of Medtronic from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Finally, Leerink Partners began coverage on shares of Medtronic in a research report on Monday, June 16th. They set an "outperform" rating and a $110.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average 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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