Greenwood Capital Associates LLC Has $10.03 Million Stake in Medtronic plc (NYSE:MDT)

Greenwood Capital Associates LLC lifted its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 15.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 111,645 shares of the medical technology company's stock after buying an additional 15,281 shares during the quarter. Medtronic makes up about 1.4% of Greenwood Capital Associates LLC's holdings, making the stock its 13th largest position. Greenwood Capital Associates LLC's holdings in Medtronic were worth $10,032,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. MONECO Advisors LLC raised its stake in 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 purchasing an additional 115 shares during the last quarter. Faithward Advisors LLC raised its stake in Medtronic by 2.7% in the 4th quarter. Faithward Advisors LLC now owns 5,043 shares of the medical technology company's stock valued at $403,000 after purchasing an additional 134 shares during the last quarter. Vestor Capital LLC raised its stake in Medtronic by 0.3% in the 4th quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company's stock valued at $4,104,000 after purchasing an additional 138 shares during the last quarter. L. Roy Papp & Associates LLP raised its stake in Medtronic by 2.8% in the 1st quarter. L. Roy Papp & Associates LLP now owns 5,099 shares of the medical technology company's stock valued at $458,000 after purchasing an additional 138 shares during the last quarter. Finally, Retirement Planning Co of New England Inc. raised its stake in Medtronic by 4.9% in the 4th quarter. Retirement Planning Co of New England Inc. now owns 2,989 shares of the medical technology company's stock valued at $239,000 after purchasing an additional 139 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Price Performance

Shares of Medtronic stock traded up $0.41 during midday trading on Thursday, reaching $88.47. The company had a trading volume of 5,854,837 shares, compared to its average volume of 6,872,959. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $113.47 billion, a price-to-earnings ratio of 26.89, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79. The stock has a fifty day simple moving average of $83.99 and a 200 day simple moving average of $86.23. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25.

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. 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 analysts' expectations of $8.81 billion. During the same period in the previous year, the firm earned $1.46 earnings per share. The firm's quarterly revenue was up 3.9% compared to the same quarter last year. As a group, equities research analysts forecast that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 3.21%. The ex-dividend date is Friday, June 27th. This is a positive change from Medtronic's previous quarterly dividend of $0.70. Medtronic's dividend payout ratio is presently 78.45%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MDT shares. 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 research note on Thursday, May 22nd. Robert W. Baird dropped their price objective on shares of Medtronic from $94.00 to $92.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. Citigroup raised shares of Medtronic from a "neutral" rating to a "buy" rating and upped their price objective for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research note on Friday, June 6th. Finally, Wall Street Zen downgraded shares of Medtronic from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Nine research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $97.00.

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.