Machina Capital S.A.S. Purchases 11,185 Shares of Medtronic PLC (NYSE:MDT)

Machina Capital S.A.S. boosted its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 58.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 30,392 shares of the medical technology company's stock after buying an additional 11,185 shares during the period. Medtronic makes up approximately 0.8% of Machina Capital S.A.S.'s holdings, making the stock its 29th biggest holding. Machina Capital S.A.S.'s holdings in Medtronic were worth $2,731,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Capital Research Global Investors grew its stake in shares of Medtronic by 1.8% in the fourth quarter. Capital Research Global Investors now owns 33,203,685 shares of the medical technology company's stock valued at $2,652,310,000 after buying an additional 571,700 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Medtronic by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 27,056,217 shares of the medical technology company's stock valued at $2,155,085,000 after buying an additional 574,055 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Medtronic by 7.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 22,278,023 shares of the medical technology company's stock valued at $2,001,903,000 after buying an additional 1,461,841 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Medtronic by 3.8% during the first quarter. Bank of New York Mellon Corp now owns 20,680,301 shares of the medical technology company's stock worth $1,858,332,000 after purchasing an additional 756,192 shares during the period. Finally, Deutsche Bank AG boosted its position in Medtronic by 2.1% during the fourth quarter. Deutsche Bank AG now owns 18,443,640 shares of the medical technology company's stock worth $1,473,278,000 after purchasing an additional 372,168 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MDT. Leerink Partners began coverage on shares of Medtronic in a research report on Monday, June 16th. They set an "outperform" rating and a $110.00 price objective for the company. Wall Street Zen raised shares of Medtronic from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. William Blair raised shares of Medtronic to a "hold" rating in a research report on Friday, July 11th. Evercore ISI boosted their target price on shares of Medtronic from $103.00 to $106.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Finally, BTIG Research reissued a "neutral" rating on shares of Medtronic in a research report on Friday, July 11th. Eleven analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Medtronic currently has an average rating of "Moderate Buy" and an average price target of $98.19.

Medtronic Trading Up 0.6%

Shares of Medtronic stock traded up $0.59 on Friday, reaching $92.91. 5,264,531 shares of the company's stock were exchanged, compared to its average volume of 7,082,213. The company has a market capitalization of $119.16 billion, a P/E ratio of 25.66, a price-to-earnings-growth ratio of 2.40 and a beta of 0.80. Medtronic PLC has a 52 week low of $78.32 and a 52 week high of $96.25. The firm's 50-day moving average is $87.04 and its two-hundred day moving average is $87.53. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.42 and a current ratio of 1.85.

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 (EPS) 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 company had revenue of $8.93 billion for the quarter, compared to analysts' expectations of $8.81 billion. During the same period last year, the business earned $1.46 EPS. Medtronic's quarterly revenue was up 3.9% compared to the same quarter last year. Sell-side analysts predict 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 was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, June 27th. This is a positive change from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a dividend yield of 3.06%. Medtronic's dividend payout ratio (DPR) is currently 78.45%.

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.