Rothschild Investment LLC Buys 3,587 Shares of Medtronic plc (NYSE:MDT)

Rothschild Investment LLC raised its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 29.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,761 shares of the medical technology company's stock after purchasing an additional 3,587 shares during the period. Rothschild Investment LLC's holdings in Medtronic were worth $1,416,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in MDT. Empowered Funds LLC raised its holdings in shares of Medtronic by 2.7% during the 4th quarter. Empowered Funds LLC now owns 105,822 shares of the medical technology company's stock valued at $8,453,000 after purchasing an additional 2,778 shares in the last quarter. Caprock Group LLC increased its holdings in shares of Medtronic by 12.6% during the 4th quarter. Caprock Group LLC now owns 47,767 shares of the medical technology company's stock valued at $3,849,000 after acquiring an additional 5,363 shares during the last quarter. Equitable Trust Co. raised its stake in shares of Medtronic by 91.7% in the 4th quarter. Equitable Trust Co. now owns 39,645 shares of the medical technology company's stock valued at $3,167,000 after acquiring an additional 18,968 shares in the last quarter. Brentview Investment Management LLC acquired a new position in Medtronic during the fourth quarter valued at approximately $3,056,000. Finally, JB Capital LLC raised its position in shares of Medtronic by 5.8% in the fourth quarter. JB Capital LLC now owns 116,877 shares of the medical technology company's stock valued at $9,336,000 after purchasing an additional 6,381 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Up 0.2%

Shares of NYSE MDT traded up $0.17 during mid-day trading on Wednesday, hitting $85.71. The company had a trading volume of 5,991,202 shares, compared to its average volume of 6,838,973. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The firm has a 50-day simple moving average of $84.04 and a two-hundred day simple moving average of $86.16. The company has a market capitalization of $109.93 billion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81. Medtronic plc has a one year low of $75.96 and a one year 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 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.04. The business had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.81 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The firm's revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.46 earnings per share. On average, equities analysts expect that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 3.31%. This is a boost from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, June 27th. Medtronic's payout ratio is 78.45%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Robert W. Baird dropped their target price on shares of Medtronic from $94.00 to $92.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research note on Monday, May 19th. Royal Bank of Canada cut their price objective on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. Wall Street Zen cut Medtronic from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, Citigroup raised shares of Medtronic from a "neutral" rating to a "buy" rating and boosted their price target for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. Nine equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Medtronic has an average rating of "Moderate Buy" and an average target price of $97.00.

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.