Lincoln Capital Corp Makes New Investment in Medtronic PLC (NYSE:MDT)

Lincoln Capital Corp acquired a new position in shares of Medtronic PLC (NYSE:MDT - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 27,090 shares of the medical technology company's stock, valued at approximately $2,434,000.

A number of other institutional investors and hedge funds have also bought and sold shares of MDT. Burkett Financial Services LLC raised its holdings in Medtronic by 185.0% in the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock worth $26,000 after purchasing an additional 185 shares in the last quarter. Mainstream Capital Management LLC purchased a new position in shares of Medtronic in the 4th quarter worth approximately $26,000. Rakuten Securities Inc. raised its stake in shares of Medtronic by 753.8% during the 4th 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 during the 4th quarter worth approximately $27,000. Finally, Optiver Holding B.V. purchased a new stake in Medtronic during the fourth quarter valued at approximately $31,000. 82.06% of the stock is owned by institutional investors.

Medtronic Stock Performance

MDT traded up $0.22 during trading on Thursday, reaching $88.50. 2,989,316 shares of the company's stock were exchanged, compared to its average volume of 6,971,637. 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 1 year low of $75.96 and a 1 year high of $96.25. The company's fifty day simple moving average is $85.12 and its 200-day simple moving average is $86.44. The stock has a market capitalization of $113.50 billion, a P/E ratio of 24.45, a price-to-earnings-growth ratio of 2.40 and a beta of 0.80.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.81 billion. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The business's quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.46 earnings per share. As a group, research analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Royal Bank Of Canada cut their price target 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. Wolfe Research raised Medtronic from an "underperform" rating to a "peer perform" rating in a research report on Monday. Mizuho dropped their target price on Medtronic from $100.00 to $98.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. Leerink Partners started coverage on Medtronic in a research note on Monday, June 16th. They issued an "outperform" rating and a $110.00 price target for the company. Finally, Robert W. Baird lowered their price target on Medtronic from $94.00 to $92.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently 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.