Medtronic PLC (NYSE:MDT) Shares Acquired by Insight Inv LLC

Insight Inv LLC lifted its stake in Medtronic PLC (NYSE:MDT - Free Report) by 84.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,456 shares of the medical technology company's stock after buying an additional 12,550 shares during the quarter. Insight Inv LLC's holdings in Medtronic were worth $2,467,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of MDT. Dunhill Financial LLC boosted its holdings in shares of Medtronic by 17.2% during the 1st quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company's stock worth $76,000 after purchasing an additional 124 shares during the last quarter. Petros Family Wealth LLC lifted its position in Medtronic by 4.3% during the first quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company's stock worth $280,000 after buying an additional 127 shares in the last quarter. Faithward Advisors LLC boosted its stake in Medtronic by 2.7% during the fourth quarter. Faithward Advisors LLC now owns 5,043 shares of the medical technology company's stock worth $403,000 after buying an additional 134 shares during the last quarter. Vestor Capital LLC grew its holdings 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 buying an additional 138 shares in the last quarter. Finally, L. Roy Papp & Associates LLP grew its holdings 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 buying an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Stock Down 0.4%

Shares of Medtronic stock traded down $0.33 during trading on Wednesday, hitting $88.42. 8,662,925 shares of the stock were exchanged, compared to its average volume of 6,987,566. The stock has a market cap of $113.40 billion, a price-to-earnings ratio of 24.43, a price-to-earnings-growth ratio of 2.40 and a beta of 0.80. The firm's 50-day moving average price is $85.12 and its 200 day moving average price is $86.44. 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 PLC has a 12-month low of $75.96 and a 12-month high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last posted its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, beating 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 period last year, the firm posted $1.46 EPS. The company's revenue was up 3.9% on a year-over-year basis. As a group, analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be issued a $0.71 dividend. This is an increase from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Friday, June 27th. Medtronic's dividend payout ratio is presently 78.45%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Leerink Partners initiated coverage on Medtronic in a research report on Monday, June 16th. They issued an "outperform" rating and a $110.00 target price on the stock. Royal Bank Of Canada reduced their price objective on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Truist Financial lowered their target price on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Leerink Partnrs raised shares of Medtronic to a "strong-buy" rating in a research note on Monday, June 16th. Finally, Needham & Company LLC restated a "hold" rating on shares of Medtronic in a report on Friday, June 6th. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $97.87.

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.