Medtronic PLC (NYSE:MDT) Shares Sold by Nichols & Pratt Advisers LLP MA

Nichols & Pratt Advisers LLP MA lessened its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 3.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 156,386 shares of the medical technology company's stock after selling 4,776 shares during the period. Nichols & Pratt Advisers LLP MA's holdings in Medtronic were worth $14,031,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Medtronic by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 124,203,387 shares of the medical technology company's stock worth $9,921,367,000 after acquiring an additional 754,395 shares in the last quarter. Capital Research Global Investors increased its position in Medtronic by 1.8% during the fourth quarter. Capital Research Global Investors now owns 33,203,685 shares of the medical technology company's stock worth $2,652,310,000 after buying an additional 571,700 shares during the period. Geode Capital Management LLC increased its position in Medtronic by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 27,056,217 shares of the medical technology company's stock worth $2,155,085,000 after buying an additional 574,055 shares during the period. Deutsche Bank AG increased its position in Medtronic by 2.1% during the fourth quarter. Deutsche Bank AG now owns 18,443,640 shares of the medical technology company's stock worth $1,473,278,000 after buying an additional 372,168 shares during the period. Finally, Invesco Ltd. increased its position in Medtronic by 17.8% during the fourth quarter. Invesco Ltd. now owns 15,445,284 shares of the medical technology company's stock worth $1,233,769,000 after buying an additional 2,333,600 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MDT. Leerink Partners began coverage on Medtronic in a report on Monday, June 16th. They issued an "outperform" rating and a $110.00 target price on the stock. Robert W. Baird decreased their target price on Medtronic from $94.00 to $92.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Wolfe Research upgraded Medtronic from an "underperform" rating to a "peer perform" rating in a research report on Monday. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research report on Friday, June 6th. Finally, Leerink Partnrs upgraded Medtronic to a "strong-buy" rating in a research report on Monday, June 16th. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $97.87.

Medtronic Stock Performance

NYSE MDT opened at $88.50 on Friday. The business's 50-day moving average price is $85.21 and its 200 day moving average price is $86.49. Medtronic PLC has a twelve month low of $75.96 and a twelve month high of $96.25. The company has a market capitalization of $113.51 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 2.38 and a beta of 0.80. The company has a current ratio of 1.85, a quick ratio of 1.42 and a debt-to-equity ratio of 0.53.

Medtronic (NYSE:MDT - Get Free Report) last released its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.04. Medtronic had a return on equity of 14.54% and a net margin of 13.90%. The firm had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.81 billion. During the same period in the prior year, the business posted $1.46 earnings per share. The firm's revenue for the quarter was up 3.9% compared to the same quarter last year. On average, research analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Increases Dividend

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