Medtronic plc (NYSE:MDT) Stock Position Raised by Cullen Investment Group LTD.

Cullen Investment Group LTD. lifted its stake in Medtronic plc (NYSE:MDT - Free Report) by 6.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,119 shares of the medical technology company's stock after buying an additional 4,925 shares during the period. Medtronic makes up approximately 1.1% of Cullen Investment Group LTD.'s holdings, making the stock its 24th largest holding. Cullen Investment Group LTD.'s holdings in Medtronic were worth $7,199,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Mainstream Capital Management LLC bought a new position in Medtronic in the 4th quarter valued at approximately $26,000. Stephens Consulting LLC boosted its holdings in shares of Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 204 shares during the last quarter. Rakuten Securities Inc. grew its position in Medtronic by 753.8% in the fourth 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 stake in shares of Medtronic during the fourth quarter valued at approximately $27,000. Finally, Optiver Holding B.V. purchased a new position in Medtronic in the fourth quarter worth $31,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Price Performance

Shares of Medtronic stock traded up $0.09 on Monday, hitting $83.07. The company had a trading volume of 2,897,470 shares, compared to its average volume of 6,794,412. The business has a 50-day simple moving average of $84.19 and a 200-day simple moving average of $86.19. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The company has a market cap of $106.54 billion, a PE ratio of 25.23, a PEG ratio of 2.22 and a beta of 0.81. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25.

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 for the quarter, topping analysts' consensus estimates of $1.58 by $0.04. The firm had revenue of $8.93 billion during the quarter, compared to analysts' expectations of $8.81 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The firm's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the firm posted $1.46 earnings per share. Research analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 3.42%. This is a boost from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, June 27th. Medtronic's dividend payout ratio (DPR) is presently 78.45%.

Analysts Set New Price Targets

MDT has been the topic of several recent analyst reports. Mizuho decreased 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. Robert W. Baird dropped their target price on shares of Medtronic from $94.00 to $92.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Wall Street Zen cut shares of Medtronic from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and raised their price objective for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Finally, UBS Group raised their price objective on shares of Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Nine research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average 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.