Schechter Investment Advisors LLC Grows Position in Medtronic PLC (NYSE:MDT)

Schechter Investment Advisors LLC grew its stake in Medtronic PLC (NYSE:MDT - Free Report) by 58.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,024 shares of the medical technology company's stock after purchasing an additional 4,082 shares during the period. Schechter Investment Advisors LLC's holdings in Medtronic were worth $991,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. TCTC Holdings LLC lifted its stake in shares of Medtronic by 3.4% in the 4th quarter. TCTC Holdings LLC now owns 39,718 shares of the medical technology company's stock valued at $3,173,000 after purchasing an additional 1,301 shares during the last quarter. Brighton Jones LLC lifted its stake in shares of Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock valued at $3,194,000 after purchasing an additional 37,265 shares during the last quarter. Oxford Asset Management LLP lifted its stake in shares of Medtronic by 70.1% in the 4th quarter. Oxford Asset Management LLP now owns 7,442 shares of the medical technology company's stock valued at $594,000 after purchasing an additional 3,068 shares during the last quarter. New Vernon Investment Management LLC lifted its stake in shares of Medtronic by 304.9% in the 4th quarter. New Vernon Investment Management LLC now owns 29,613 shares of the medical technology company's stock valued at $2,425,000 after purchasing an additional 22,300 shares during the last quarter. Finally, Insight Inv LLC lifted its stake in shares of Medtronic by 84.2% in the 1st quarter. Insight Inv LLC now owns 27,456 shares of the medical technology company's stock valued at $2,467,000 after purchasing an additional 12,550 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Medtronic Trading Down 0.2%

Shares of NYSE MDT opened at $89.73 on Tuesday. Medtronic PLC has a twelve month low of $76.68 and a twelve month high of $96.25. The business has a fifty day simple moving average of $85.89 and a two-hundred day simple moving average of $86.96. The firm has a market cap of $115.08 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 2.33 and a beta of 0.80. The company has a quick ratio of 1.42, a current ratio of 1.85 and a debt-to-equity ratio of 0.53.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $8.81 billion. During the same period last year, the business posted $1.46 EPS. The business's revenue was up 3.9% compared to the same quarter last year. Analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were issued a $0.71 dividend. The ex-dividend date of this dividend was Friday, June 27th. This is an increase from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.17%. Medtronic's dividend payout ratio (DPR) is currently 78.45%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MDT shares. Evercore ISI raised their price objective on Medtronic from $103.00 to $106.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Robert W. Baird decreased their price target 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 decreased their price target on Medtronic from $100.00 to $98.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Truist Financial decreased their price target on Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research note on Friday, June 6th. Ten analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $97.47.

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.

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