Larson Financial Group LLC Grows Stock Holdings in Medtronic PLC (NYSE:MDT)

Larson Financial Group LLC lifted its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 16.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,582 shares of the medical technology company's stock after buying an additional 4,947 shares during the period. Larson Financial Group LLC's holdings in Medtronic were worth $3,108,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in MDT. Brighton Jones LLC increased its holdings 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 purchasing an additional 37,265 shares during the period. Oxford Asset Management LLP raised its holdings in Medtronic by 70.1% in the 4th quarter. Oxford Asset Management LLP now owns 7,442 shares of the medical technology company's stock valued at $594,000 after acquiring an additional 3,068 shares in the last quarter. New Vernon Investment Management LLC lifted its position in shares of Medtronic by 304.9% during the 4th quarter. New Vernon Investment Management LLC now owns 29,613 shares of the medical technology company's stock valued at $2,425,000 after acquiring an additional 22,300 shares during the period. Insight Inv LLC grew its holdings in shares of Medtronic by 84.2% during the 1st quarter. Insight Inv LLC now owns 27,456 shares of the medical technology company's stock worth $2,467,000 after purchasing an additional 12,550 shares in the last quarter. Finally, Argent Trust Co increased its position in shares of Medtronic by 13.6% in the fourth quarter. Argent Trust Co now owns 56,020 shares of the medical technology company's stock worth $4,475,000 after purchasing an additional 6,721 shares during the period. 82.06% of the stock is owned by institutional investors.

Medtronic Price Performance

Shares of MDT traded down $0.39 during trading hours on Thursday, reaching $89.39. 4,300,994 shares of the stock traded hands, compared to its average volume of 7,037,075. The company has a market cap of $114.65 billion, a P/E ratio of 24.68, a price-to-earnings-growth ratio of 2.32 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. The company's 50-day moving average price is $86.16 and its two-hundred day moving average price is $86.99. Medtronic PLC has a 52-week low of $77.94 and a 52-week high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (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 company had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.81 billion. During the same period in the previous year, the firm posted $1.46 EPS. Medtronic's revenue for the quarter was up 3.9% compared to the same quarter last year. On average, analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 3.18%. This is an increase from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date was Friday, June 27th. Medtronic's dividend payout ratio is presently 78.45%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. William Blair upgraded shares of Medtronic to a "hold" rating in a research note on Friday, July 11th. Wall Street Zen raised Medtronic from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Evercore ISI raised their price target on shares of Medtronic from $103.00 to $106.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Mizuho increased their price objective on Medtronic from $98.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday. Finally, Truist Financial cut their target price on Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Eleven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $98.19.

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.