Roffman Miller Associates Inc. PA Has $1.73 Million Stock Position in Medtronic PLC (NYSE:MDT)

Roffman Miller Associates Inc. PA cut its stake in Medtronic PLC (NYSE:MDT - Free Report) by 37.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,230 shares of the medical technology company's stock after selling 11,432 shares during the period. Roffman Miller Associates Inc. PA's holdings in Medtronic were worth $1,728,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. TCTC Holdings LLC increased its stake in shares of Medtronic by 3.4% in the 4th quarter. TCTC Holdings LLC now owns 39,718 shares of the medical technology company's stock valued at $3,173,000 after buying an additional 1,301 shares during the period. Brighton Jones LLC boosted its holdings in Medtronic by 1,368.0% in the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock valued at $3,194,000 after acquiring an additional 37,265 shares during the last quarter. Oxford Asset Management LLP increased its position in Medtronic by 70.1% in the fourth quarter. Oxford Asset Management LLP now owns 7,442 shares of the medical technology company's stock worth $594,000 after purchasing an additional 3,068 shares during the period. New Vernon Investment Management LLC raised its holdings in Medtronic by 304.9% during the 4th quarter. New Vernon Investment Management LLC now owns 29,613 shares of the medical technology company's stock worth $2,425,000 after purchasing an additional 22,300 shares during the last quarter. Finally, Insight Inv LLC lifted its position in Medtronic by 84.2% during the 1st quarter. Insight Inv LLC now owns 27,456 shares of the medical technology company's stock valued at $2,467,000 after purchasing an additional 12,550 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MDT has been the subject of several analyst reports. Mizuho lowered their price target on shares of Medtronic from $100.00 to $98.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. Leerink Partnrs raised shares of Medtronic to a "strong-buy" rating in a report on Monday, June 16th. Wolfe Research raised Medtronic from an "underperform" rating to a "peer perform" rating in a research note on Monday, June 30th. Wall Street Zen raised Medtronic from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Finally, Leerink Partners began coverage on Medtronic in a report on Monday, June 16th. They set an "outperform" rating and a $110.00 target price on the stock. Nine 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. Based on data from MarketBeat.com, Medtronic has an average rating of "Moderate Buy" and a consensus target price of $97.87.

Medtronic Stock Down 0.7%

Shares of MDT stock traded down $0.66 during trading hours on Monday, hitting $87.73. 7,217,285 shares of the company were exchanged, compared to its average volume of 6,999,557. The business has a 50 day moving average of $85.30 and a two-hundred day moving average of $86.63. Medtronic PLC has a 52 week low of $75.96 and a 52 week high of $96.25. The company has a market capitalization of $112.52 billion, a PE ratio of 24.23, a PEG ratio of 2.39 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 posted its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $0.04. The business had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.81 billion. Medtronic had a return on equity of 14.54% and a net margin of 13.90%. Medtronic's quarterly 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. Analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be issued a $0.71 dividend. The ex-dividend date is Friday, June 27th. This is an increase from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.24%. Medtronic's dividend payout ratio (DPR) 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.