Medtronic PLC (NYSE:MDT) Shares Acquired by Robeco Schweiz AG

Robeco Schweiz AG increased its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 6.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,543 shares of the medical technology company's stock after buying an additional 8,736 shares during the period. Robeco Schweiz AG's holdings in Medtronic were worth $13,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MDT. Norges Bank purchased a new position in shares of Medtronic during the 4th quarter valued at approximately $1,163,580,000. Beutel Goodman & Co Ltd. purchased a new position in shares of Medtronic during the 4th quarter valued at approximately $377,169,000. Invesco Ltd. lifted its position in shares of Medtronic by 17.8% during the 4th quarter. Invesco Ltd. now owns 15,445,284 shares of the medical technology company's stock valued at $1,233,769,000 after buying an additional 2,333,600 shares in the last quarter. Burgundy Asset Management Ltd. acquired a new position in Medtronic in the 4th quarter valued at $174,329,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Medtronic in the 4th quarter valued at $139,869,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Stock Performance

NYSE MDT traded up $0.62 on Friday, reaching $90.02. The stock had a trading volume of 12,258,801 shares, compared to its average volume of 7,021,901. The stock has a market cap of $115.45 billion, a P/E ratio of 24.87, a price-to-earnings-growth ratio of 2.32 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. The business's 50-day moving average price is $85.77 and its 200 day moving average price is $86.82. Medtronic PLC has a 12-month low of $76.68 and a 12-month high of $96.25.

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 analysts' expectations of $8.81 billion. During the same quarter in the prior year, the business earned $1.46 earnings per share. The company's quarterly revenue was up 3.9% compared to the same quarter last year. As a group, equities analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were issued a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $2.84 dividend on an annualized basis and a yield of 3.15%. This is an increase from Medtronic's previous quarterly dividend of $0.70. Medtronic's payout ratio is currently 78.45%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Robert W. Baird reduced their price objective on Medtronic from $94.00 to $92.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. Mizuho reduced their price objective on Medtronic from $100.00 to $98.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Citigroup increased their price objective on Medtronic from $98.00 to $99.00 and gave the company a "buy" rating in a research note on Wednesday. Wolfe Research raised Medtronic from an "underperform" rating to a "peer perform" rating in a research note on Monday, June 30th. Finally, Evercore ISI increased their price objective on Medtronic from $103.00 to $106.00 and gave the company an "outperform" rating in a research note on Tuesday. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $97.47.

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.