Little House Capital LLC Buys New Holdings in Medtronic PLC (NYSE:MDT)

Little House Capital LLC bought a new stake in Medtronic PLC (NYSE:MDT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 12,857 shares of the medical technology company's stock, valued at approximately $1,155,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of Medtronic by 1,368.0% in the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock worth $3,194,000 after acquiring an additional 37,265 shares in the last quarter. Lake Street Advisors Group LLC boosted its position in Medtronic by 4.5% during the 4th quarter. Lake Street Advisors Group LLC now owns 6,296 shares of the medical technology company's stock worth $507,000 after purchasing an additional 272 shares during the period. Whipplewood Advisors LLC purchased a new stake in Medtronic during the 4th quarter worth $120,000. New York Life Investment Management LLC boosted its position in Medtronic by 2.3% during the 4th quarter. New York Life Investment Management LLC now owns 178,642 shares of the medical technology company's stock worth $14,270,000 after purchasing an additional 4,015 shares during the period. Finally, Kovack Advisors Inc. lifted its position in Medtronic by 9.5% during the 4th quarter. Kovack Advisors Inc. now owns 8,550 shares of the medical technology company's stock worth $683,000 after acquiring an additional 741 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Price Performance

NYSE:MDT opened at $86.19 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42. The firm's fifty day moving average price is $84.82 and its two-hundred day moving average price is $86.33. Medtronic PLC has a one year low of $75.96 and a one year high of $96.25. The company has a market cap of $110.54 billion, a P/E ratio of 23.81, a P/E/G ratio of 2.33 and a beta of 0.79.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.81 billion. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The business's revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.46 earnings per share. Equities analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Increases Dividend

The company 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 a positive change 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 annualized dividend and a dividend yield of 3.29%. Medtronic's dividend payout ratio is presently 77.35%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MDT shares. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research report on Friday, June 6th. Mizuho cut their target price on shares of Medtronic from $100.00 to $98.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Royal Bank Of Canada decreased their price objective on Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a report on Thursday, May 22nd. Citigroup raised shares of Medtronic from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Finally, Leerink Partners began coverage on Medtronic in a report on Monday, June 16th. They set an "outperform" rating and a $110.00 target price for the company. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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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