F&V Capital Management LLC Buys 2,890 Shares of Medtronic plc (NYSE:MDT)

F&V Capital Management LLC grew its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 1.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 179,885 shares of the medical technology company's stock after purchasing an additional 2,890 shares during the period. Medtronic makes up approximately 4.2% of F&V Capital Management LLC's investment portfolio, making the stock its 8th largest holding. F&V Capital Management LLC's holdings in Medtronic were worth $16,164,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of MDT. MONECO Advisors LLC grew its position in Medtronic by 1.8% in the fourth quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company's stock valued at $512,000 after acquiring an additional 115 shares during the period. Faithward Advisors LLC grew its position in Medtronic by 2.7% in the fourth quarter. Faithward Advisors LLC now owns 5,043 shares of the medical technology company's stock valued at $403,000 after acquiring an additional 134 shares during the period. Vestor Capital LLC grew its position in Medtronic by 0.3% in the fourth quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company's stock valued at $4,104,000 after acquiring an additional 138 shares during the period. L. Roy Papp & Associates LLP grew its position in Medtronic by 2.8% in the first quarter. L. Roy Papp & Associates LLP now owns 5,099 shares of the medical technology company's stock valued at $458,000 after acquiring an additional 138 shares during the period. Finally, Retirement Planning Co of New England Inc. grew its position in Medtronic by 4.9% in the fourth quarter. Retirement Planning Co of New England Inc. now owns 2,989 shares of the medical technology company's stock valued at $239,000 after acquiring an additional 139 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Trading Down 1.5%

Medtronic stock traded down $1.30 during mid-day trading on Friday, hitting $87.19. The stock had a trading volume of 6,008,318 shares, compared to its average volume of 6,874,071. The stock has a 50-day simple moving average of $84.10 and a two-hundred day simple moving average of $86.25. The stock has a market capitalization of $111.83 billion, a PE ratio of 26.50, a P/E/G ratio of 2.22 and a beta of 0.79. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.04. The business had revenue of $8.93 billion for the quarter, compared to analysts' expectations of $8.81 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The firm's quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.46 earnings per share. As a group, sell-side analysts forecast that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders 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 is Friday, June 27th. This represents a $2.84 annualized dividend and a yield of 3.26%. Medtronic's dividend payout ratio is presently 78.45%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Royal Bank of Canada lowered their price target on Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research report on Friday, June 6th. Robert W. Baird lowered their price target on Medtronic from $94.00 to $92.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Mizuho decreased their target price on Medtronic from $100.00 to $98.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Finally, Wall Street Zen cut Medtronic from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Nine equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $97.00.

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.