Oak Thistle LLC Purchases 27,494 Shares of Medtronic PLC (NYSE:MDT)

Oak Thistle LLC raised its stake in Medtronic PLC (NYSE:MDT - Free Report) by 173.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 43,359 shares of the medical technology company's stock after purchasing an additional 27,494 shares during the quarter. Medtronic accounts for 0.8% of Oak Thistle LLC's investment portfolio, making the stock its 14th biggest holding. Oak Thistle LLC's holdings in Medtronic were worth $3,896,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of MDT. Burkett Financial Services LLC raised its holdings in Medtronic by 185.0% during the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock worth $26,000 after purchasing an additional 185 shares during the last quarter. Wood Tarver Financial Group LLC acquired a new position in Medtronic during the fourth quarter worth $27,000. Columbia River Financial Group LLC acquired a new position in shares of Medtronic in the first quarter worth $28,000. Optiver Holding B.V. acquired a new position in shares of Medtronic in the fourth quarter worth $31,000. Finally, Hughes Financial Services LLC acquired a new position in shares of Medtronic in the first quarter worth $32,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Trading Up 0.6%

NYSE:MDT traded up $0.59 during trading hours on Friday, hitting $92.91. 5,168,389 shares of the stock were exchanged, compared to its average volume of 7,748,498. The company's 50 day moving average is $86.91 and its two-hundred day moving average is $87.44. Medtronic PLC has a twelve month low of $78.32 and a twelve month high of $96.25. 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 company has a market capitalization of $119.16 billion, a P/E ratio of 25.66, a price-to-earnings-growth ratio of 2.39 and a beta of 0.80.

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 the consensus estimate of $1.58 by $0.04. The firm had revenue of $8.93 billion for 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%. The business's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.46 EPS. On average, sell-side analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were given a $0.71 dividend. The ex-dividend date of this dividend was Friday, June 27th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.06%. This is a boost from Medtronic's previous quarterly dividend of $0.70. Medtronic's dividend payout ratio is currently 78.45%.

Analyst Ratings Changes

MDT has been the subject of several research analyst reports. Mizuho upped their price target on Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. William Blair raised Medtronic to a "hold" rating in a report on Friday, July 11th. Royal Bank Of Canada reduced their price target on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a report on Thursday, May 22nd. Robert W. Baird cut their target price on Medtronic from $94.00 to $92.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Finally, Citigroup lifted their price target on Medtronic from $98.00 to $99.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Eleven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $98.19.

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.