GAM Holding AG Trims Holdings in Medtronic PLC (NYSE:MDT)

GAM Holding AG decreased its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 12.0% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 86,871 shares of the medical technology company's stock after selling 11,847 shares during the quarter. GAM Holding AG's holdings in Medtronic were worth $7,806,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. MONECO Advisors LLC raised its stake in shares of Medtronic by 1.8% in the 4th quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company's stock valued at $512,000 after acquiring an additional 115 shares during the period. Dunhill Financial LLC boosted its position in shares of Medtronic by 17.2% during the 1st quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company's stock worth $76,000 after purchasing an additional 124 shares during the period. Faithward Advisors LLC boosted its position 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 worth $403,000 after purchasing an additional 134 shares during the period. Vestor Capital LLC boosted its position in shares of Medtronic by 0.3% during the 4th quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company's stock worth $4,104,000 after purchasing an additional 138 shares during the period. Finally, L. Roy Papp & Associates LLP boosted its position in shares of Medtronic by 2.8% during the 1st quarter. L. Roy Papp & Associates LLP now owns 5,099 shares of the medical technology company's stock worth $458,000 after purchasing an additional 138 shares during the period. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Stock Performance

MDT stock traded up $0.57 on Friday, hitting $86.30. The company's stock had a trading volume of 13,076,756 shares, compared to its average volume of 6,911,259. The firm has a 50 day moving average of $84.49 and a two-hundred day moving average of $86.27. Medtronic PLC has a 1 year low of $75.96 and a 1 year high of $96.25. The stock has a market cap of $110.68 billion, a price-to-earnings ratio of 23.84, a price-to-earnings-growth ratio of 2.33 and a beta of 0.79. The company has a current ratio of 1.85, a quick ratio of 1.42 and a debt-to-equity ratio of 0.53.

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, topping analysts' consensus estimates of $1.58 by $0.04. The company had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.81 billion. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. Medtronic's quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.46 EPS. Equities analysts predict that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, June 27th. This is a boost from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.29%. Medtronic's dividend payout ratio is 77.35%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Leerink Partners initiated coverage on shares of Medtronic in a research report on Monday, June 16th. They set an "outperform" rating and a $110.00 price objective for the company. Wall Street Zen upgraded shares of Medtronic from a "hold" rating to a "buy" rating in a report on Saturday. Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. Mizuho dropped their price objective on shares of Medtronic from $100.00 to $98.00 and set an "outperform" rating for the company in a report on Thursday, May 22nd. Finally, Royal Bank Of Canada lowered their price target on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a report on Thursday, May 22nd. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Medtronic has an average rating of "Moderate Buy" and a consensus target price of $97.87.

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.