Godsey & Gibb Inc. Acquires 7,365 Shares of Medtronic plc (NYSE:MDT)

Godsey & Gibb Inc. raised its position in Medtronic plc (NYSE:MDT - Free Report) by 3.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 240,451 shares of the medical technology company's stock after purchasing an additional 7,365 shares during the period. Medtronic comprises approximately 2.1% of Godsey & Gibb Inc.'s portfolio, making the stock its 22nd biggest holding. Godsey & Gibb Inc.'s holdings in Medtronic were worth $21,607,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of MDT. Empowered Funds LLC boosted its holdings in shares of Medtronic by 2.7% during the fourth quarter. Empowered Funds LLC now owns 105,822 shares of the medical technology company's stock worth $8,453,000 after purchasing an additional 2,778 shares during the last quarter. Equitable Trust Co. boosted its holdings in Medtronic by 91.7% in the fourth quarter. Equitable Trust Co. now owns 39,645 shares of the medical technology company's stock valued at $3,167,000 after acquiring an additional 18,968 shares during the last quarter. TCTC Holdings LLC boosted its holdings in 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 acquiring an additional 1,301 shares during the last quarter. Brighton Jones LLC lifted its stake in shares of 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 purchasing an additional 37,265 shares in the last quarter. Finally, Oxford Asset Management LLP lifted its stake in shares of Medtronic by 70.1% during the fourth quarter. Oxford Asset Management LLP now owns 7,442 shares of the medical technology company's stock worth $594,000 after purchasing an additional 3,068 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Trading Up 0.4%

NYSE MDT traded up $0.38 during trading hours on Friday, reaching $87.38. The company's stock had a trading volume of 7,577,391 shares, compared to its average volume of 6,861,534. The stock has a market cap of $112.07 billion, a P/E ratio of 26.56, a P/E/G ratio of 2.22 and a beta of 0.79. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25. The firm has a fifty day simple moving average of $83.92 and a 200-day simple moving average of $86.17.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.81 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. Medtronic's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.46 EPS. Equities analysts forecast that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, June 27th. This represents a $2.84 annualized dividend and a yield of 3.25%. This is a positive change from Medtronic's previous quarterly dividend of $0.70. Medtronic's dividend payout ratio is presently 78.45%.

Wall Street Analyst Weigh In

MDT has been the topic of a number of recent analyst reports. Truist Financial cut their target price on Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research note on Friday. Wall Street Zen lowered shares of Medtronic from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Royal Bank of Canada lowered their target price on Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Finally, 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. Nine investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.