Medtronic PLC (NYSE:MDT) Shares Sold by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY decreased its position in Medtronic PLC (NYSE:MDT - Free Report) by 0.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 732,044 shares of the medical technology company's stock after selling 3,175 shares during the quarter. Medtronic accounts for about 2.1% of Miller Howard Investments Inc. NY's holdings, making the stock its 12th biggest holding. Miller Howard Investments Inc. NY owned 0.06% of Medtronic worth $65,781,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Mainstream Capital Management LLC acquired a new stake in shares of Medtronic in the 4th quarter valued at $26,000. Burkett Financial Services LLC raised its stake in Medtronic by 185.0% in the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock valued at $26,000 after buying an additional 185 shares in the last quarter. Rakuten Securities Inc. lifted its holdings in Medtronic by 753.8% during the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock worth $27,000 after buying an additional 294 shares during the last quarter. Wood Tarver Financial Group LLC acquired a new position in shares of Medtronic during the 4th quarter worth about $27,000. Finally, Optiver Holding B.V. purchased a new position in shares of Medtronic in the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Stock Up 0.2%

NYSE MDT traded up $0.22 during mid-day trading on Thursday, reaching $88.50. 2,989,470 shares of the company's stock traded hands, compared to its average volume of 6,988,170. 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 PLC has a 1-year low of $75.96 and a 1-year high of $96.25. The company has a fifty day simple moving average of $85.21 and a 200-day simple moving average of $86.49. The company has a market cap of $113.50 billion, a price-to-earnings ratio of 24.45, a P/E/G ratio of 2.38 and a beta of 0.80.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly 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. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The business had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.81 billion. During the same quarter in the previous year, the firm earned $1.46 earnings per share. The business's revenue was up 3.9% compared to the same quarter last year. As a group, equities research analysts expect that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Friday, June 27th. This is an increase from Medtronic's previous quarterly dividend of $0.70. Medtronic's dividend payout ratio (DPR) is currently 78.45%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MDT. Wall Street Zen raised 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 research report on Monday, June 16th. They set an "outperform" rating and a $110.00 target price on the stock. 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 report on Thursday, May 22nd. Leerink Partnrs raised Medtronic to a "strong-buy" rating in a research report on Monday, June 16th. Finally, Mizuho decreased their price objective on 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 given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Medtronic currently has a consensus rating of "Moderate Buy" and a consensus target price of $97.87.

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.