Focus Partners Advisor Solutions LLC Raises Stake in Medtronic plc (NYSE:MDT)

Focus Partners Advisor Solutions LLC grew its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 40.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,103 shares of the medical technology company's stock after acquiring an additional 3,514 shares during the quarter. Focus Partners Advisor Solutions LLC's holdings in Medtronic were worth $967,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Medtronic by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 124,203,387 shares of the medical technology company's stock worth $9,921,367,000 after purchasing an additional 754,395 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Medtronic by 1.8% during the fourth quarter. Capital Research Global Investors now owns 33,203,685 shares of the medical technology company's stock valued at $2,652,310,000 after buying an additional 571,700 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Medtronic by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 27,056,217 shares of the medical technology company's stock worth $2,155,085,000 after buying an additional 574,055 shares during the period. Deutsche Bank AG lifted its stake in shares of Medtronic by 2.1% in the 4th quarter. Deutsche Bank AG now owns 18,443,640 shares of the medical technology company's stock valued at $1,473,278,000 after acquiring an additional 372,168 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Medtronic by 17.8% during the 4th quarter. Invesco Ltd. now owns 15,445,284 shares of the medical technology company's stock valued at $1,233,769,000 after acquiring an additional 2,333,600 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MDT. Mizuho reduced their price target on Medtronic from $100.00 to $98.00 and set an "outperform" rating on the stock in a research report on Thursday. Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and raised their target price for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Robert W. Baird lowered their price target on shares of Medtronic from $94.00 to $92.00 and set a "neutral" rating for the company in a report on Thursday. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a report on Monday. Finally, Royal Bank of Canada decreased their price objective on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $96.07.

Medtronic Trading Down 4.1%

MDT opened at $80.93 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25. The stock has a market cap of $103.80 billion, a PE ratio of 24.60, a PEG ratio of 2.22 and a beta of 0.81. The business has a 50 day moving average of $85.29 and a 200-day moving average of $86.50.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.58 by $0.04. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The business had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.81 billion. During the same quarter last year, the firm posted $1.46 earnings per share. The company's revenue for the quarter was up 3.9% on a year-over-year basis. Equities research analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The firm 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 dividend of $0.71 per share. The ex-dividend date is Friday, June 27th. This represents a $2.84 annualized dividend and a yield of 3.51%. This is a positive change from Medtronic's previous quarterly dividend of $0.70. Medtronic's payout ratio is presently 85.11%.

Medtronic Company 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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