Medtronic PLC (NYSE:MDT) Shares Sold by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. reduced its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 20.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 55,844 shares of the medical technology company's stock after selling 14,753 shares during the period. Pekin Hardy Strauss Inc.'s holdings in Medtronic were worth $5,018,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Dunhill Financial LLC lifted its stake in shares of Medtronic by 17.2% during the 1st quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company's stock worth $76,000 after acquiring an additional 124 shares during the last quarter. Cidel Asset Management Inc. lifted its stake in shares of Medtronic by 1.3% during the 1st quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company's stock worth $856,000 after acquiring an additional 126 shares during the last quarter. Petros Family Wealth LLC lifted its stake in shares of Medtronic by 4.3% during the 1st quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company's stock worth $280,000 after acquiring an additional 127 shares during the last quarter. Faithward Advisors LLC raised its position in Medtronic by 2.7% during the 4th quarter. Faithward Advisors LLC now owns 5,043 shares of the medical technology company's stock valued at $403,000 after purchasing an additional 134 shares in the last quarter. Finally, Vestor Capital LLC raised its position in Medtronic by 0.3% during the 4th quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company's stock valued at $4,104,000 after purchasing an additional 138 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MDT has been the subject of a number of research analyst reports. Truist Financial decreased their target price on Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research report on Friday, June 6th. Leerink Partners started coverage on Medtronic in a research report on Monday, June 16th. They issued an "outperform" rating and a $110.00 price target for the company. Wolfe Research upgraded shares of Medtronic from an "underperform" rating to a "peer perform" rating in a research note on Monday, June 30th. Finally, Robert W. Baird lowered their target price on shares of Medtronic from $94.00 to $92.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Medtronic has a consensus rating of "Moderate Buy" and a consensus price target of $98.00.

Medtronic Trading Up 1.1%

Shares of MDT traded up $0.98 during midday trading on Tuesday, hitting $88.65. 1,766,865 shares of the stock were exchanged, compared to its average volume of 6,979,221. Medtronic PLC has a 52-week low of $75.96 and a 52-week high of $96.25. The stock has a fifty day simple moving average of $85.37 and a 200 day simple moving average of $86.68. The firm has a market cap of $113.70 billion, a P/E ratio of 24.52, a P/E/G ratio of 2.39 and a beta of 0.80. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.42 and a current ratio of 1.85.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $8.81 billion. During the same period last year, the business posted $1.46 earnings per share. The company's quarterly revenue was up 3.9% on a year-over-year basis. On average, research analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Increases Dividend

The business 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 $0.71 dividend. The ex-dividend date is 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 yield of 3.20%. Medtronic's dividend payout ratio (DPR) is 78.45%.

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.