Moran Wealth Management LLC lifted its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 19.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 159,727 shares of the medical technology company's stock after acquiring an additional 25,602 shares during the period. Moran Wealth Management LLC's holdings in Medtronic were worth $14,353,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC grew its stake 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 purchasing an additional 37,265 shares in the last quarter. Howard Capital Management Inc. bought a new position in Medtronic during the fourth quarter worth $733,000. Forvis Mazars Wealth Advisors LLC lifted its stake in shares of Medtronic by 24.2% in the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 3,207 shares of the medical technology company's stock valued at $256,000 after buying an additional 624 shares during the period. MONECO Advisors LLC grew its holdings in shares of Medtronic by 1.8% during the 4th quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company's stock worth $512,000 after purchasing an additional 115 shares in the last quarter. Finally, Capital Advisors Ltd. LLC increased its holdings in Medtronic by 6.2% in the 4th quarter. Capital Advisors Ltd. LLC now owns 3,384 shares of the medical technology company's stock valued at $270,000 after buying an additional 199 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.
Medtronic Stock Performance
Shares of MDT stock traded up $0.44 during trading hours on Thursday, reaching $86.41. The company had a trading volume of 10,821,631 shares, compared to its average volume of 6,959,053. The firm has a market cap of $110.83 billion, a PE ratio of 23.87, a price-to-earnings-growth ratio of 2.32 and a beta of 0.79. Medtronic PLC has a one year low of $75.96 and a one year high of $96.25. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.42 and a current ratio of 1.85. The business has a fifty day moving average price of $84.67 and a 200-day moving average price of $86.29.
Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share 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 analyst estimates of $8.81 billion. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The company's revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.46 earnings per share. Sell-side analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.
Medtronic Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be given a $0.71 dividend. The ex-dividend date of this dividend 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 yield of 3.29%. Medtronic's dividend payout ratio (DPR) is currently 77.35%.
Wall Street Analysts Forecast Growth
MDT has been the subject of a number of recent analyst reports. Leerink Partners initiated coverage on Medtronic in a report on Monday, June 16th. They set an "outperform" rating and a $110.00 price target for the company. Citigroup raised shares of Medtronic from a "neutral" rating to a "buy" rating and upped their target price for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Mizuho decreased their price objective on 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 upgraded Medtronic to a "strong-buy" rating in a report on Monday, June 16th. Finally, Royal Bank Of Canada lowered their price objective on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Eight 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $97.87.
Read Our Latest Analysis on MDT
About Medtronic
(
Free Report)
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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