Medtronic PLC (NYSE:MDT) Shares Bought by Greenleaf Trust

Greenleaf Trust lifted its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 51.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,279 shares of the medical technology company's stock after acquiring an additional 7,184 shares during the quarter. Greenleaf Trust's holdings in Medtronic were worth $1,912,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. TCTC Holdings LLC increased its stake in shares of Medtronic by 3.4% during the fourth quarter. TCTC Holdings LLC now owns 39,718 shares of the medical technology company's stock worth $3,173,000 after acquiring an additional 1,301 shares during the period. Brighton Jones LLC increased its stake in shares of Medtronic by 1,368.0% during the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock worth $3,194,000 after acquiring an additional 37,265 shares during the period. Oxford Asset Management LLP increased its stake in shares of Medtronic by 70.1% during the fourth quarter. Oxford Asset Management LLP now owns 7,442 shares of the medical technology company's stock worth $594,000 after acquiring an additional 3,068 shares during the period. New Vernon Investment Management LLC grew its position in Medtronic by 304.9% during the fourth quarter. New Vernon Investment Management LLC now owns 29,613 shares of the medical technology company's stock worth $2,425,000 after buying an additional 22,300 shares during the period. Finally, Insight Inv LLC grew its position in Medtronic by 84.2% during the first quarter. Insight Inv LLC now owns 27,456 shares of the medical technology company's stock worth $2,467,000 after buying an additional 12,550 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Trading Up 0.4%

Shares of MDT traded up $0.39 on Thursday, hitting $89.39. 7,938,684 shares of the stock traded hands, compared to its average volume of 6,996,726. The company has a quick ratio of 1.42, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $114.65 billion, a P/E ratio of 24.69, a P/E/G ratio of 2.39 and a beta of 0.80. The stock's 50 day moving average is $85.54 and its two-hundred day moving average is $86.71. Medtronic PLC has a 1 year low of $76.33 and a 1 year high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results 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. The company had revenue of $8.93 billion for 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 revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.46 earnings per share. As a group, sell-side 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 will be paid on Friday, July 11th. Shareholders 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 dividend on an annualized basis and a yield of 3.18%. This is an increase from Medtronic's previous quarterly dividend of $0.70. Medtronic's dividend payout ratio (DPR) is currently 78.45%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on MDT shares. Leerink Partnrs upgraded shares of Medtronic to a "strong-buy" rating in a research report on Monday, June 16th. Citigroup upped their target price on shares of Medtronic from $98.00 to $99.00 and gave the stock a "buy" rating in a research report on Wednesday. Wall Street Zen upgraded shares of Medtronic from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Mizuho reduced their price target on shares of Medtronic from $100.00 to $98.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Finally, Truist Financial reduced their price target on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Nine equities research 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 data from MarketBeat.com, Medtronic has an average rating of "Moderate Buy" and an average price target of $97.47.

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.