Medtronic PLC (NYSE:MDT) Shares Bought by Leo Wealth LLC

Leo Wealth LLC lifted its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 15.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,748 shares of the medical technology company's stock after acquiring an additional 2,845 shares during the period. Leo Wealth LLC's holdings in Medtronic were worth $1,864,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in MDT. TCTC Holdings LLC increased its position in Medtronic by 3.4% in the fourth quarter. TCTC Holdings LLC now owns 39,718 shares of the medical technology company's stock worth $3,173,000 after buying an additional 1,301 shares during the period. Brighton Jones LLC increased its position in Medtronic by 1,368.0% in the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock worth $3,194,000 after buying an additional 37,265 shares during the period. Oxford Asset Management LLP increased its position in Medtronic by 70.1% in the fourth quarter. Oxford Asset Management LLP now owns 7,442 shares of the medical technology company's stock worth $594,000 after buying an additional 3,068 shares during the period. New Vernon Investment Management LLC increased its position in Medtronic by 304.9% in the fourth quarter. New Vernon Investment Management LLC now owns 29,613 shares of the medical technology company's stock worth $2,425,000 after buying an additional 22,300 shares during the period. Finally, Insight Inv LLC increased its position in Medtronic by 84.2% in the first quarter. Insight Inv LLC now owns 27,456 shares of the medical technology company's stock worth $2,467,000 after buying an additional 12,550 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MDT shares. Wolfe Research raised Medtronic from an "underperform" rating to a "peer perform" rating in a report on Monday, June 30th. BTIG Research reaffirmed a "neutral" rating on shares of Medtronic in a research note on Friday. Royal Bank Of Canada decreased their target price on Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Citigroup raised their target price on Medtronic from $98.00 to $99.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Finally, Leerink Partnrs raised Medtronic to a "strong-buy" rating in a research note on Monday, June 16th. Ten equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Medtronic has a consensus rating of "Moderate Buy" and a consensus price target of $97.47.

Medtronic Trading Up 0.7%

Shares of Medtronic stock opened at $90.02 on Monday. Medtronic PLC has a 12-month low of $76.68 and a 12-month high of $96.25. The stock has a market cap of $115.45 billion, a P/E ratio of 24.87, a P/E/G ratio of 2.33 and a beta of 0.80. The company has a quick ratio of 1.42, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. The business's 50 day moving average is $85.77 and its 200-day moving average is $86.89.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.04. The business had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.81 billion. Medtronic had a return on equity of 14.54% and a net margin of 13.90%. The company's quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.46 EPS. Equities research analysts predict 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 was paid on Friday, July 11th. Investors of record on Friday, June 27th were given a $0.71 dividend. The ex-dividend date of this dividend was Friday, June 27th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.15%. This is a boost from Medtronic's previous quarterly dividend of $0.70. Medtronic's dividend payout ratio (DPR) is presently 78.45%.

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.

Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic PLC (NYSE:MDT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.