Code Waechter LLC Has $203,000 Holdings in Medtronic PLC (NYSE:MDT)

Code Waechter LLC decreased its position in Medtronic PLC (NYSE:MDT - Free Report) by 58.7% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 2,261 shares of the medical technology company's stock after selling 3,207 shares during the period. Code Waechter LLC's holdings in Medtronic were worth $203,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of MDT. Brighton Jones LLC lifted its stake in Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock valued at $3,194,000 after acquiring an additional 37,265 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Medtronic during the 4th quarter worth approximately $13,132,000. Independent Advisor Alliance raised its stake in shares of Medtronic by 25.3% during the 4th quarter. Independent Advisor Alliance now owns 54,907 shares of the medical technology company's stock worth $4,386,000 after purchasing an additional 11,075 shares in the last quarter. AGF Management Ltd. bought a new stake in shares of Medtronic during the 4th quarter worth approximately $335,000. Finally, Natural Investments LLC bought a new stake in shares of Medtronic during the 4th quarter worth approximately $291,000. Institutional investors own 82.06% of the company's stock.

Medtronic Trading Up 0.7%

Shares of MDT traded up $0.62 during mid-day trading on Friday, reaching $90.02. 12,258,801 shares of the company were exchanged, compared to its average volume of 7,027,364. Medtronic PLC has a 52 week low of $76.68 and a 52 week high of $96.25. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.42 and a current ratio of 1.85. The stock has a market capitalization of $115.45 billion, a PE ratio of 24.87, a PEG ratio of 2.32 and a beta of 0.80. The business has a 50 day simple moving average of $85.77 and a two-hundred day simple moving average of $86.82.

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. Medtronic had a return on equity of 14.54% and a net margin of 13.90%. The business had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.81 billion. During the same period in the previous year, the company posted $1.46 earnings per share. The firm's revenue for the quarter was up 3.9% on a year-over-year basis. On average, analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend was Friday, June 27th. This is a boost from Medtronic's previous quarterly dividend of $0.70. Medtronic's dividend payout ratio (DPR) is 78.45%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MDT. Leerink Partnrs upgraded Medtronic to a "strong-buy" rating in a research note on Monday, June 16th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research note on Friday, June 6th. Mizuho dropped their price target on Medtronic from $100.00 to $98.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. Robert W. Baird dropped their price target on Medtronic from $94.00 to $92.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Finally, Royal Bank Of Canada dropped their price target on Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $97.47.

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.