Country Club Bank Acquires 3,053 Shares of Medtronic PLC (NYSE:MDT)

Country Club Bank grew its position in Medtronic PLC (NYSE:MDT - Free Report) by 3.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 94,884 shares of the medical technology company's stock after buying an additional 3,053 shares during the period. Country Club Bank's holdings in Medtronic were worth $8,315,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. 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 buying an additional 185 shares during the last quarter. Rakuten Securities Inc. raised its holdings 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 buying an additional 294 shares during the last quarter. Wood Tarver Financial Group LLC purchased a new position in Medtronic in the fourth quarter worth about $27,000. Columbia River Financial Group LLC purchased a new position in Medtronic in the first quarter worth about $28,000. Finally, Optiver Holding B.V. bought a new stake in shares of Medtronic in the fourth quarter worth approximately $31,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Price Performance

NYSE:MDT traded up $0.62 during trading hours on Friday, hitting $90.02. 12,258,801 shares of the stock traded hands, compared to its average volume of 7,021,901. The company has a quick ratio of 1.42, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. Medtronic PLC has a 1 year low of $76.68 and a 1 year high of $96.25. The company has a market cap of $115.45 billion, a price-to-earnings ratio of 24.87, a price-to-earnings-growth ratio of 2.32 and a beta of 0.80. The stock has a 50 day moving average price of $85.77 and a 200 day moving average price of $86.82.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.04. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The business had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.81 billion. During the same quarter in the previous year, the firm earned $1.46 earnings per share. The company's revenue for the quarter was up 3.9% on a year-over-year basis. Sell-side analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 3.15%. The ex-dividend date was Friday, June 27th. This is an increase from Medtronic's previous quarterly dividend of $0.70. Medtronic's payout ratio is 78.45%.

Wall Street Analysts Forecast Growth

MDT has been the subject of a number of research analyst reports. Leerink Partnrs upgraded shares of Medtronic to a "strong-buy" rating in a research note on Monday, June 16th. Evercore ISI lifted their price target on shares of Medtronic from $103.00 to $106.00 and gave the stock an "outperform" rating in a research note on Tuesday. Mizuho reduced their price target on shares of Medtronic from $100.00 to $98.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Wall Street Zen upgraded shares of Medtronic from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Finally, Truist Financial reduced their price target on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Nine 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $97.47.

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.