Medtronic PLC (NYSE:MDT) Shares Purchased by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC boosted its position in Medtronic PLC (NYSE:MDT - Free Report) by 5.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 108,588 shares of the medical technology company's stock after purchasing an additional 5,307 shares during the period. Kestra Private Wealth Services LLC's holdings in Medtronic were worth $9,758,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Medtronic in the fourth quarter valued at about $1,163,580,000. Beutel Goodman & Co Ltd. purchased a new position in Medtronic in the fourth quarter valued at about $377,169,000. Invesco Ltd. increased its holdings in Medtronic by 17.8% in the fourth quarter. Invesco Ltd. now owns 15,445,284 shares of the medical technology company's stock valued at $1,233,769,000 after buying an additional 2,333,600 shares in the last quarter. Burgundy Asset Management Ltd. purchased a new position in Medtronic in the fourth quarter valued at about $174,329,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Medtronic in the fourth quarter valued at about $139,869,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. BTIG Research reissued a "neutral" rating on shares of Medtronic in a research note on Friday, July 11th. Morgan Stanley reaffirmed an "overweight" rating and issued a $107.00 target price (up from $98.00) on shares of Medtronic in a research note on Tuesday. Wolfe Research raised shares of Medtronic from an "underperform" rating to a "peer perform" rating in a research note on Monday, June 30th. Mizuho lifted their target price on shares of Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research note on Friday, June 6th. Eleven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $98.19.

Medtronic Price Performance

Shares of NYSE:MDT opened at $89.63 on Friday. The company has a quick ratio of 1.42, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. Medtronic PLC has a fifty-two week low of $78.32 and a fifty-two week high of $96.25. The firm has a 50-day simple moving average of $86.41 and a 200 day simple moving average of $87.18. The company has a market cap of $114.95 billion, a PE ratio of 24.76, a P/E/G ratio of 2.33 and a beta of 0.80.

Medtronic (NYSE:MDT - Get Free Report) last issued 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. The company had revenue of $8.93 billion during 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 business's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.46 EPS. On average, sell-side analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Increases Dividend

The company 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. This represents a $2.84 annualized dividend and a dividend yield of 3.17%. The ex-dividend date was Friday, June 27th. This is an increase from Medtronic's previous quarterly dividend of $0.70. Medtronic's dividend payout ratio is 78.45%.

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.

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