Greenleaf Trust Increases Stock Holdings in Medtronic PLC (NYSE:MDT)

Greenleaf Trust boosted its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 51.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 21,279 shares of the medical technology company's stock after buying an additional 7,184 shares during the period. Greenleaf Trust's holdings in Medtronic were worth $1,912,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CORDA Investment Management LLC. raised its stake in shares of Medtronic by 0.9% in the first quarter. CORDA Investment Management LLC. now owns 251,507 shares of the medical technology company's stock valued at $22,600,000 after acquiring an additional 2,236 shares during the period. DekaBank Deutsche Girozentrale raised its position in Medtronic by 5.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 2,475,926 shares of the medical technology company's stock worth $214,237,000 after purchasing an additional 124,161 shares during the period. OMNI 360 Wealth Inc. purchased a new stake in Medtronic in the 1st quarter worth about $209,000. Personal CFO Solutions LLC raised its position in Medtronic by 7.8% in the 1st quarter. Personal CFO Solutions LLC now owns 11,614 shares of the medical technology company's stock worth $1,044,000 after purchasing an additional 843 shares during the period. Finally, Stratos Wealth Partners LTD. boosted its position in shares of Medtronic by 3.8% during the first quarter. Stratos Wealth Partners LTD. now owns 62,997 shares of the medical technology company's stock valued at $5,661,000 after buying an additional 2,328 shares during the period. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Trading Up 0.6%

Shares of NYSE:MDT opened at $89.12 on Thursday. Medtronic PLC has a 12-month low of $76.33 and a 12-month high of $96.25. The business's fifty day simple moving average is $85.54 and its 200-day simple moving average is $86.71. The company has a market capitalization of $114.30 billion, a PE ratio of 24.62, a P/E/G ratio of 2.39 and a beta of 0.80. 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 issued its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $8.81 billion. During the same period in the prior year, the business posted $1.46 EPS. The firm's quarterly revenue was up 3.9% on a year-over-year basis. As a group, equities research analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be given a dividend of $0.71 per share. This is a boost from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date is Friday, June 27th. This represents a $2.84 dividend on an annualized basis and a yield of 3.19%. Medtronic's dividend payout ratio is presently 78.45%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wolfe Research upgraded Medtronic from an "underperform" rating to a "peer perform" rating in a report on Monday, June 30th. Leerink Partnrs upgraded Medtronic to a "strong-buy" rating in a research note on Monday, June 16th. Leerink Partners initiated coverage on Medtronic in a research note on Monday, June 16th. They issued an "outperform" rating and a $110.00 target price on the stock. Royal Bank Of Canada lowered their target price on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Finally, Citigroup raised their price target on shares of Medtronic from $98.00 to $99.00 and gave the stock a "buy" rating in a research note on Wednesday. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $97.47.

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.

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