Noesis Capital Mangement Corp Grows Stock Position in Medtronic PLC (NYSE:MDT)

Noesis Capital Mangement Corp lifted its position in Medtronic PLC (NYSE:MDT - Free Report) by 4.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 108,294 shares of the medical technology company's stock after purchasing an additional 4,375 shares during the quarter. Medtronic accounts for approximately 1.9% of Noesis Capital Mangement Corp's holdings, making the stock its 21st biggest holding. Noesis Capital Mangement Corp's holdings in Medtronic were worth $9,731,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Dunhill Financial LLC grew its holdings in shares of Medtronic by 17.2% during the first quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company's stock worth $76,000 after purchasing an additional 124 shares in the last quarter. Cidel Asset Management Inc. grew its position in Medtronic by 1.3% during the first quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company's stock valued at $856,000 after acquiring an additional 126 shares during the last quarter. Petros Family Wealth LLC lifted its stake in Medtronic by 4.3% in the first quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company's stock worth $280,000 after purchasing an additional 127 shares during the last quarter. Faithward Advisors LLC grew its stake in shares of Medtronic by 2.7% during the fourth quarter. Faithward Advisors LLC now owns 5,043 shares of the medical technology company's stock valued at $403,000 after buying an additional 134 shares during the last quarter. Finally, L. Roy Papp & Associates LLP increased its holdings in shares of Medtronic by 2.8% in the first quarter. L. Roy Papp & Associates LLP now owns 5,099 shares of the medical technology company's stock worth $458,000 after buying an additional 138 shares during the period. 82.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MDT. Morgan Stanley restated an "overweight" rating and set a $107.00 target price (up from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Citigroup increased their price target on shares of Medtronic from $98.00 to $99.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Wall Street Zen upgraded shares of Medtronic from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Leerink Partnrs upgraded Medtronic to a "strong-buy" rating in a report on Monday, June 16th. Finally, Mizuho lifted their price target on shares of Medtronic from $98.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Eleven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $98.19.

Medtronic Stock Up 0.4%

Shares of NYSE MDT traded up $0.34 during midday trading on Thursday, hitting $92.35. The stock had a trading volume of 6,683,715 shares, compared to its average volume of 7,303,850. The company has a market cap of $118.45 billion, a P/E ratio of 25.51, a PEG ratio of 2.39 and a beta of 0.80. The company has a quick ratio of 1.42, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. The business's 50 day moving average is $86.91 and its 200-day moving average is $87.44. Medtronic PLC has a 52 week low of $78.32 and a 52 week high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, beating 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 business had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.81 billion. During the same period last year, the business posted $1.46 EPS. The company's revenue was up 3.9% compared to the same quarter last year. As a group, analysts predict that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were paid a $0.71 dividend. The ex-dividend date was Friday, June 27th. This is a positive change from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.08%. Medtronic's 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.