Morningstar Investment Services LLC Sells 49,830 Shares of Medtronic PLC (NYSE:MDT)

Morningstar Investment Services LLC trimmed its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 51.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,699 shares of the medical technology company's stock after selling 49,830 shares during the quarter. Morningstar Investment Services LLC's holdings in Medtronic were worth $4,196,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Auxano Advisors LLC lifted its stake in Medtronic by 23.8% in the 1st quarter. Auxano Advisors LLC now owns 15,765 shares of the medical technology company's stock valued at $1,417,000 after purchasing an additional 3,028 shares during the last quarter. Allegiance Financial Group Advisory Services LLC bought a new position in Medtronic in the 1st quarter valued at approximately $355,000. Private Advisor Group LLC lifted its stake in Medtronic by 0.9% in the 1st quarter. Private Advisor Group LLC now owns 105,585 shares of the medical technology company's stock valued at $9,488,000 after purchasing an additional 938 shares during the last quarter. FLC Capital Advisors lifted its stake in Medtronic by 9.7% in the 1st quarter. FLC Capital Advisors now owns 4,509 shares of the medical technology company's stock valued at $405,000 after purchasing an additional 400 shares during the last quarter. Finally, Mandatum Life Insurance Co Ltd lifted its stake in Medtronic by 20.4% in the 1st quarter. Mandatum Life Insurance Co Ltd now owns 59,138 shares of the medical technology company's stock valued at $5,314,000 after purchasing an additional 10,000 shares during the last quarter. Institutional investors own 82.06% of the company's stock.

Medtronic Stock Up 0.1%

NYSE:MDT traded up $0.10 during trading hours on Friday, reaching $89.63. The company had a trading volume of 6,413,451 shares, compared to its average volume of 7,016,083. The firm has a market cap of $114.95 billion, a price-to-earnings ratio of 24.76, a P/E/G ratio of 2.33 and a beta of 0.80. The business's 50-day simple moving average is $86.41 and its two-hundred day simple moving average is $87.18. Medtronic PLC has a twelve month low of $78.32 and a twelve month high of $96.25. 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 (NYSE:MDT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.58 by $0.04. The firm had revenue of $8.93 billion during the quarter, compared to analysts' expectations of $8.81 billion. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The business's revenue was up 3.9% on a year-over-year basis. During the same period last year, the company earned $1.46 earnings per share. On average, equities analysts expect that Medtronic PLC will post 5.46 earnings per share 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 issued 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 dividend on an annualized basis and a dividend 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 research firms have recently issued reports on MDT. William Blair raised shares of Medtronic to a "hold" rating in a research note on Friday, July 11th. Royal Bank Of Canada dropped their price target on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Wolfe Research raised shares of Medtronic from an "underperform" rating to a "peer perform" rating in a research note on Monday, June 30th. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research note on Friday, June 6th. Finally, Wall Street Zen raised shares of Medtronic from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Eleven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $98.19.

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.