Ritholtz Wealth Management Purchases 18,899 Shares of Medtronic plc (NYSE:MDT)

Ritholtz Wealth Management grew its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 34.7% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 73,384 shares of the medical technology company's stock after acquiring an additional 18,899 shares during the quarter. Ritholtz Wealth Management's holdings in Medtronic were worth $6,594,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. MONECO Advisors LLC boosted its stake in shares of Medtronic by 1.8% in the 4th quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company's stock valued at $512,000 after purchasing an additional 115 shares during the last quarter. Faithward Advisors LLC raised its stake in shares of Medtronic by 2.7% during the fourth quarter. Faithward Advisors LLC now owns 5,043 shares of the medical technology company's stock worth $403,000 after buying an additional 134 shares during the last quarter. Vestor Capital LLC lifted its holdings in Medtronic by 0.3% in the fourth quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company's stock valued at $4,104,000 after buying an additional 138 shares during the period. L. Roy Papp & Associates LLP boosted its stake in Medtronic by 2.8% in the first quarter. L. Roy Papp & Associates LLP now owns 5,099 shares of the medical technology company's stock valued at $458,000 after acquiring an additional 138 shares during the last quarter. Finally, Retirement Planning Co of New England Inc. grew its holdings in Medtronic by 4.9% during the 4th quarter. Retirement Planning Co of New England Inc. now owns 2,989 shares of the medical technology company's stock worth $239,000 after acquiring an additional 139 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Up 0.7%

Shares of Medtronic stock traded up $0.65 during trading on Monday, reaching $87.92. The stock had a trading volume of 2,272,637 shares, compared to its average volume of 7,672,644. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $112.76 billion, a price-to-earnings ratio of 26.73, a P/E/G ratio of 2.22 and a beta of 0.79. The stock has a fifty day moving average price of $84.21 and a two-hundred day moving average price of $86.26. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly 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 14.07% and a net margin of 12.83%. The firm had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.81 billion. During the same quarter in the prior year, the firm posted $1.46 EPS. The business's revenue was up 3.9% on a year-over-year basis. Sell-side analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders 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 is a boost from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a yield of 3.23%. Medtronic's payout ratio is 78.45%.

Analyst Ratings Changes

MDT has been the topic of several recent research reports. Royal Bank of Canada reduced their price target on Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. Wall Street Zen lowered Medtronic from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Robert W. Baird decreased their target price on Medtronic from $94.00 to $92.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research note on Friday, June 6th. Finally, Mizuho reduced their price objective on shares of Medtronic from $100.00 to $98.00 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, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Medtronic presently has an average rating of "Moderate Buy" and a consensus price target of $97.87.

About Medtronic

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.