Grandfield & Dodd LLC Sells 7,727 Shares of Medtronic PLC (NYSE:MDT)

Grandfield & Dodd LLC decreased its position in Medtronic PLC (NYSE:MDT - Free Report) by 7.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 94,368 shares of the medical technology company's stock after selling 7,727 shares during the quarter. Grandfield & Dodd LLC's holdings in Medtronic were worth $8,480,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MDT. Cullen Frost Bankers Inc. grew its stake in shares of Medtronic by 2.4% in the first quarter. Cullen Frost Bankers Inc. now owns 284,261 shares of the medical technology company's stock worth $25,544,000 after acquiring an additional 6,604 shares during the last quarter. Parcion Private Wealth LLC grew its stake in shares of Medtronic by 5.2% in the first quarter. Parcion Private Wealth LLC now owns 106,084 shares of the medical technology company's stock worth $9,533,000 after acquiring an additional 5,212 shares during the last quarter. Bridgewater Advisors Inc. acquired a new stake in shares of Medtronic in the first quarter worth $228,000. Kornitzer Capital Management Inc. KS grew its stake in shares of Medtronic by 2.3% in the first quarter. Kornitzer Capital Management Inc. KS now owns 127,720 shares of the medical technology company's stock worth $11,477,000 after acquiring an additional 2,834 shares during the last quarter. Finally, Larson Financial Group LLC grew its stake in shares of Medtronic by 16.7% in the first quarter. Larson Financial Group LLC now owns 34,582 shares of the medical technology company's stock worth $3,108,000 after acquiring an additional 4,947 shares during the last quarter. Institutional investors own 82.06% of the company's stock.

Medtronic Trading Up 0.1%

Medtronic stock traded up $0.07 during trading hours on Friday, reaching $89.60. 2,024,403 shares of the company's stock traded hands, compared to its average volume of 7,014,185. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.42 and a current ratio of 1.85. Medtronic PLC has a fifty-two week low of $78.32 and a fifty-two week high of $96.25. The firm has a market capitalization of $114.92 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 2.33 and a beta of 0.80. The firm's 50 day moving average is $86.29 and its 200-day moving average is $87.06.

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

Medtronic Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were paid a $0.71 dividend. The ex-dividend date was 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 3.17%. Medtronic's dividend payout ratio is 78.45%.

Analysts Set New Price Targets

MDT has been the topic of several research analyst reports. Leerink Partners initiated coverage on shares of Medtronic in a research note on Monday, June 16th. They issued an "outperform" rating and a $110.00 price objective on the stock. William Blair upgraded shares of Medtronic to a "hold" rating in a research note on Friday, July 11th. Truist Financial decreased their price target on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. BTIG Research reiterated a "neutral" rating on shares of Medtronic in a research note on Friday, July 11th. Finally, Mizuho lifted their price target on shares of Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday. Eleven research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Medtronic presently has an average rating of "Moderate Buy" and an average price target of $98.19.

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.