Revisor Wealth Management LLC Acquires New Shares in Medtronic PLC (NYSE:MDT)

Revisor Wealth Management LLC bought a new position in Medtronic PLC (NYSE:MDT - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,071 shares of the medical technology company's stock, valued at approximately $459,000.

Other hedge funds also recently made changes to their positions in the company. Novem Group boosted its stake in Medtronic by 10.4% during the first quarter. Novem Group now owns 39,856 shares of the medical technology company's stock valued at $3,581,000 after buying an additional 3,749 shares during the period. Private Trust Co. NA lifted its position in Medtronic by 10.2% in the first quarter. Private Trust Co. NA now owns 9,349 shares of the medical technology company's stock valued at $840,000 after purchasing an additional 863 shares during the last quarter. Pinnacle Financial Partners Inc increased its stake in shares of Medtronic by 1.7% in the first quarter. Pinnacle Financial Partners Inc now owns 158,706 shares of the medical technology company's stock worth $14,261,000 after buying an additional 2,586 shares during the period. Kanawha Capital Management LLC increased its holdings in Medtronic by 3.4% during the 1st quarter. Kanawha Capital Management LLC now owns 119,150 shares of the medical technology company's stock valued at $10,707,000 after purchasing an additional 3,967 shares during the period. Finally, Aaron Wealth Advisors LLC increased its holdings in Medtronic by 12.6% during the 1st quarter. Aaron Wealth Advisors LLC now owns 7,743 shares of the medical technology company's stock valued at $696,000 after purchasing an additional 865 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MDT. Robert W. Baird reduced their target price on Medtronic from $94.00 to $92.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Royal Bank Of Canada lowered their price target on Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Wolfe Research upgraded shares of Medtronic from an "underperform" rating to a "peer perform" rating in a research report on Monday. Wall Street Zen raised Medtronic from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Finally, Mizuho decreased their price target on Medtronic from $100.00 to $98.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Nine equities 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 company's stock. Based on data from MarketBeat.com, Medtronic has a consensus rating of "Moderate Buy" and a consensus target price of $97.87.

Medtronic Stock Up 0.2%

Shares of NYSE:MDT traded up $0.22 during trading on Thursday, hitting $88.50. The company's stock had a trading volume of 2,989,470 shares, compared to its average volume of 6,988,170. The company has a market capitalization of $113.50 billion, a PE ratio of 24.45, a P/E/G ratio of 2.38 and a beta of 0.80. The business has a 50 day moving average price of $85.12 and a two-hundred day moving average price of $86.44. Medtronic PLC has a fifty-two week low of $75.96 and a fifty-two week 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.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, beating 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 company had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.81 billion. During the same period in the previous year, the business posted $1.46 earnings per share. Medtronic's quarterly revenue was up 3.9% on a year-over-year basis. As a group, research analysts expect that Medtronic PLC will post 5.46 EPS 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 dividend of $0.71 per share. This is a positive change from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.84 annualized dividend and a yield of 3.21%. Medtronic's dividend payout ratio is 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.