Auxano Advisors LLC Purchases 3,028 Shares of Medtronic PLC (NYSE:MDT)

Auxano Advisors LLC boosted its stake in Medtronic PLC (NYSE:MDT - Free Report) by 23.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,765 shares of the medical technology company's stock after acquiring an additional 3,028 shares during the quarter. Auxano Advisors LLC's holdings in Medtronic were worth $1,417,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MDT. Brighton Jones LLC grew 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 buying an additional 37,265 shares during the last quarter. Oxford Asset Management LLP grew its position in shares of Medtronic by 70.1% during the 4th 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. New Vernon Investment Management LLC grew its position in shares of Medtronic by 304.9% during the 4th quarter. New Vernon Investment Management LLC now owns 29,613 shares of the medical technology company's stock worth $2,425,000 after purchasing an additional 22,300 shares in the last quarter. Insight Inv LLC grew its position in shares of Medtronic by 84.2% during the 1st quarter. Insight Inv LLC now owns 27,456 shares of the medical technology company's stock worth $2,467,000 after purchasing an additional 12,550 shares in the last quarter. Finally, Argent Trust Co grew its position in shares of Medtronic by 13.6% during the 4th quarter. Argent Trust Co now owns 56,020 shares of the medical technology company's stock worth $4,475,000 after purchasing an additional 6,721 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Medtronic Trading Up 0.1%

NYSE:MDT traded up $0.10 during midday trading on Friday, reaching $89.63. 6,413,451 shares of the stock traded hands, compared to its average volume of 7,016,083. The company has a fifty day moving average of $86.41 and a 200 day moving average of $87.18. Medtronic PLC has a 12 month low of $78.32 and a 12 month 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 $114.95 billion, a P/E ratio of 24.76, a PEG ratio of 2.33 and a beta of 0.80.

Medtronic (NYSE:MDT - Get Free Report) last released 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 for the quarter, compared to the consensus estimate of $8.81 billion. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The company's revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.46 EPS. On average, research analysts predict that Medtronic PLC will post 5.46 EPS for the current 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 dividend of $0.71 per share. This is a positive change from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend was Friday, June 27th. Medtronic's dividend payout ratio (DPR) is currently 78.45%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. William Blair raised shares of Medtronic to a "hold" rating in a research note on Friday, July 11th. Robert W. Baird decreased their price target on shares of Medtronic from $94.00 to $92.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Evercore ISI upped their price target 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. 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. Finally, Morgan Stanley reiterated an "overweight" rating and set a $107.00 price objective (up from $98.00) on shares of Medtronic in a research report on Tuesday, July 15th. Eleven analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $98.19.

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.