Advisor OS LLC Boosts Position in Medtronic PLC (NYSE:MDT)

Advisor OS LLC boosted its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 26.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,912 shares of the medical technology company's stock after buying an additional 3,112 shares during the quarter. Advisor OS LLC's holdings in Medtronic were worth $1,340,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Burkett Financial Services LLC grew its holdings in shares of Medtronic by 185.0% during the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock valued at $26,000 after buying an additional 185 shares during the last quarter. Wood Tarver Financial Group LLC purchased a new stake in shares of Medtronic during the fourth quarter valued at $27,000. Columbia River Financial Group LLC purchased a new stake in shares of Medtronic during the first quarter valued at $28,000. Optiver Holding B.V. purchased a new stake in shares of Medtronic during the fourth quarter valued at $31,000. Finally, Hughes Financial Services LLC purchased a new stake in shares of Medtronic during the first quarter valued at $32,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on MDT shares. Royal Bank Of Canada decreased their target price on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. 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. Citigroup boosted their target price on shares of Medtronic from $98.00 to $99.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Mizuho upped their price objective on shares of Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Finally, Robert W. Baird decreased their price objective 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. Eleven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Medtronic currently has a consensus rating of "Moderate Buy" and a consensus price target of $98.19.

Medtronic Trading Up 0.6%

Shares of NYSE:MDT traded up $0.59 during mid-day trading on Friday, reaching $92.91. 5,264,531 shares of the company were exchanged, compared to its average volume of 7,082,213. Medtronic PLC has a 1 year low of $78.32 and a 1 year high of $96.25. The firm has a market cap of $119.16 billion, a price-to-earnings ratio of 25.66, a P/E/G ratio of 2.40 and a beta of 0.80. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42. The firm's 50-day simple moving average is $87.04 and its 200 day simple moving average is $87.53.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, beating analysts' consensus estimates of $1.58 by $0.04. The business had revenue of $8.93 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the business earned $1.46 EPS. Equities research analysts forecast that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Increases Dividend

The firm also recently disclosed 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. This is a boost from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a dividend yield of 3.06%. The ex-dividend date was Friday, June 27th. Medtronic's dividend payout ratio 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.