Hudson Edge Investment Partners Inc. Has $6.10 Million Position in Medtronic PLC (NYSE:MDT)

Hudson Edge Investment Partners Inc. decreased its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 9.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,846 shares of the medical technology company's stock after selling 7,352 shares during the period. Hudson Edge Investment Partners Inc.'s holdings in Medtronic were worth $6,097,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Burkett Financial Services LLC raised its holdings in shares of Medtronic by 185.0% during the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock worth $26,000 after buying an additional 185 shares in the last quarter. Mainstream Capital Management LLC bought a new position in Medtronic in the fourth quarter valued at about $26,000. Rakuten Securities Inc. raised its stake in Medtronic by 753.8% during the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock worth $27,000 after acquiring an additional 294 shares in the last quarter. Wood Tarver Financial Group LLC bought a new position in shares of Medtronic in the fourth quarter worth about $27,000. Finally, Optiver Holding B.V. bought a new position in shares of Medtronic in the fourth quarter worth about $31,000. 82.06% of the stock is owned by institutional investors.

Medtronic Price Performance

Medtronic stock opened at $88.42 on Thursday. The stock's 50 day moving average is $85.12 and its 200 day moving average is $86.44. Medtronic PLC has a one year low of $75.96 and a one year high of $96.25. The firm has a market cap of $113.40 billion, a P/E ratio of 24.43, a P/E/G ratio of 2.40 and a beta of 0.80. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (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 for the quarter, compared to the consensus estimate of $8.81 billion. During the same quarter in the previous year, the company earned $1.46 EPS. The company's revenue for the quarter was up 3.9% on a year-over-year basis. As a group, research analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be given a $0.71 dividend. The ex-dividend date is Friday, June 27th. This is a positive change from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a dividend yield of 3.21%. Medtronic's dividend payout ratio (DPR) is 78.45%.

Analyst Ratings Changes

Several brokerages recently issued reports on MDT. Leerink Partners began coverage on shares of Medtronic in a report on Monday, June 16th. They set an "outperform" rating and a $110.00 price target on the stock. Wolfe Research raised shares of Medtronic from an "underperform" rating to a "peer perform" rating in a research note on Monday. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a report on Friday, June 6th. Leerink Partnrs raised Medtronic to a "strong-buy" rating in a report on Monday, June 16th. Finally, Mizuho reduced their price objective on Medtronic from $100.00 to $98.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $97.87.

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.

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