Mutual Advisors LLC Sells 4,024 Shares of Medtronic PLC (NYSE:MDT)

Mutual Advisors LLC decreased its position in Medtronic PLC (NYSE:MDT - Free Report) by 8.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,144 shares of the medical technology company's stock after selling 4,024 shares during the quarter. Mutual Advisors LLC's holdings in Medtronic were worth $3,547,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Burkett Financial Services LLC increased its holdings in Medtronic by 185.0% in the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock worth $26,000 after acquiring an additional 185 shares during the last quarter. Rakuten Securities Inc. grew its position in shares of Medtronic by 753.8% in the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 294 shares in the last quarter. Wood Tarver Financial Group LLC purchased a new position in shares of Medtronic in the fourth quarter valued at $27,000. Optiver Holding B.V. bought a new stake in shares of Medtronic during the 4th quarter valued at $31,000. Finally, Chapman Financial Group LLC bought a new position in shares of Medtronic in the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Stock Performance

Shares of NYSE MDT traded up $0.22 during trading on Friday, reaching $88.50. 2,989,470 shares of the company traded hands, compared to its average volume of 6,988,170. The firm has a 50 day simple moving average of $85.21 and a 200-day simple moving average of $86.49. Medtronic PLC has a 52-week low of $75.96 and a 52-week high of $96.25. The stock has a market capitalization of $113.51 billion, a PE ratio of 24.45, a P/E/G ratio of 2.38 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.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, topping the consensus estimate 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 return on equity of 14.54% and a net margin of 13.90%. Medtronic's revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.46 earnings per share. Equities research analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 3.21%. This is a positive change from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, June 27th. Medtronic's dividend payout ratio is 78.45%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Robert W. Baird reduced 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 reiterated a "hold" rating on shares of Medtronic in a research report on Friday, June 6th. Wall Street Zen upgraded Medtronic from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Leerink Partners started coverage on Medtronic in a report on Monday, June 16th. They issued an "outperform" rating and a $110.00 price objective for the company. Finally, Mizuho lowered their price objective on shares of Medtronic from $100.00 to $98.00 and set an "outperform" rating for the company in a report on Thursday, May 22nd. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Medtronic presently has an average rating of "Moderate Buy" and a consensus target price 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.