Rowlandmiller & PARTNERS.ADV Purchases 2,890 Shares of Medtronic plc (NYSE:MDT)

Rowlandmiller & PARTNERS.ADV increased its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 22.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,836 shares of the medical technology company's stock after acquiring an additional 2,890 shares during the period. Rowlandmiller & PARTNERS.ADV's holdings in Medtronic were worth $1,423,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Mainstream Capital Management LLC acquired a new stake in Medtronic in the 4th quarter valued at $26,000. Burkett Financial Services LLC lifted its holdings in Medtronic by 185.0% during the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock valued at $26,000 after purchasing an additional 185 shares during the last quarter. Rakuten Securities Inc. raised its stake 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 acquiring an additional 294 shares during the last quarter. Wood Tarver Financial Group LLC acquired a new position in shares of Medtronic in the 4th quarter worth approximately $27,000. Finally, Optiver Holding B.V. acquired a new stake in Medtronic during the 4th quarter valued at $31,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Stock Down 1.5%

MDT traded down $1.30 during trading on Friday, reaching $87.19. The company had a trading volume of 6,008,318 shares, compared to its average volume of 6,886,057. The company has a market cap of $111.83 billion, a P/E ratio of 26.50, a PEG ratio of 2.22 and a beta of 0.79. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The business's fifty day moving average price is $84.21 and its 200 day moving average price is $86.26.

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 (EPS) for the quarter, topping 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 return on equity of 14.07% and a net margin of 12.83%. The company's revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.46 EPS. Equities analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be issued a dividend of $0.71 per share. This is a boost from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date is Friday, June 27th. This represents a $2.84 annualized dividend and a yield of 3.26%. Medtronic's dividend payout ratio is presently 78.45%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MDT shares. Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. Robert W. Baird reduced their target price on shares of Medtronic from $94.00 to $92.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research report on Friday, June 6th. Truist Financial lowered their target price on Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Finally, Royal Bank of Canada decreased their price target on Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Nine research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Medtronic has a consensus rating of "Moderate Buy" and a consensus target price of $97.00.

Medtronic Company 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.