Marshall Financial Group Inc. ADV Invests $270,000 in Medtronic PLC (NYSE:MDT)

Marshall Financial Group Inc. ADV bought a new position in Medtronic PLC (NYSE:MDT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,010 shares of the medical technology company's stock, valued at approximately $270,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MDT. TCTC Holdings LLC increased its stake in shares of Medtronic by 3.4% in the fourth quarter. TCTC Holdings LLC now owns 39,718 shares of the medical technology company's stock valued at $3,173,000 after buying an additional 1,301 shares during the period. Brighton Jones LLC increased its position in Medtronic by 1,368.0% during the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock valued at $3,194,000 after purchasing an additional 37,265 shares during the period. Oxford Asset Management LLP increased its position in Medtronic by 70.1% during the 4th quarter. Oxford Asset Management LLP now owns 7,442 shares of the medical technology company's stock valued at $594,000 after purchasing an additional 3,068 shares during the period. New Vernon Investment Management LLC increased its position in 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 purchasing an additional 22,300 shares during the period. Finally, Insight Inv LLC increased its position in Medtronic by 84.2% during the 1st quarter. Insight Inv LLC now owns 27,456 shares of the medical technology company's stock valued at $2,467,000 after purchasing an additional 12,550 shares during the period. Institutional investors own 82.06% of the company's stock.

Medtronic Price Performance

Shares of MDT opened at $89.39 on Friday. Medtronic PLC has a 12-month low of $76.68 and a 12-month high of $96.25. The business's fifty day moving average is $85.66 and its 200 day moving average is $86.76. The company has a quick ratio of 1.42, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. The stock has a market cap of $114.65 billion, a P/E ratio of 24.69, a P/E/G ratio of 2.40 and a beta of 0.80.

Medtronic (NYSE:MDT - Get Free Report) last issued its 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 return on equity of 14.54% and a net margin of 13.90%. The company had revenue of $8.93 billion for the quarter, compared to analysts' expectations of $8.81 billion. During the same period last year, the business earned $1.46 EPS. Medtronic's quarterly revenue was up 3.9% compared to the same quarter last year. Sell-side analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, June 27th. This is a boost from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a yield of 3.18%. Medtronic's dividend payout ratio (DPR) is 78.45%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MDT shares. Leerink Partners started coverage on shares of Medtronic in a research report on Monday, June 16th. They set an "outperform" rating and a $110.00 target price for the company. Wall Street Zen raised shares of Medtronic from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Evercore ISI increased their target price on shares of Medtronic from $103.00 to $106.00 and gave the company an "outperform" rating in a research report on Tuesday. Leerink Partnrs upgraded Medtronic to a "strong-buy" rating in a report on Monday, June 16th. Finally, Royal Bank Of Canada cut their price target on Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Nine investment 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 has an average rating of "Moderate Buy" and a consensus price target of $97.47.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.