Medtronic PLC (NYSE:MDT) Shares Bought by TD Private Client Wealth LLC

TD Private Client Wealth LLC lifted its stake in Medtronic PLC (NYSE:MDT - Free Report) by 68.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 98,425 shares of the medical technology company's stock after purchasing an additional 40,151 shares during the quarter. TD Private Client Wealth LLC's holdings in Medtronic were worth $8,844,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Burkett Financial Services LLC boosted its holdings in shares of Medtronic by 185.0% in the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock worth $26,000 after purchasing an additional 185 shares during the period. Columbia River Financial Group LLC purchased a new position in shares of Medtronic in the 1st quarter worth approximately $28,000. Rakuten Securities Inc. boosted its holdings in shares of Medtronic by 753.8% in the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock worth $27,000 after purchasing an additional 294 shares during the period. Wood Tarver Financial Group LLC purchased a new position in shares of Medtronic in the 4th quarter worth approximately $27,000. Finally, Optiver Holding B.V. purchased a new position in shares of Medtronic in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Stock Up 1.4%

MDT traded up $1.22 on Tuesday, hitting $88.89. The company had a trading volume of 1,086,026 shares, compared to its average volume of 6,976,887. The stock has a fifty day moving average price of $85.37 and a 200-day moving average price of $86.68. Medtronic PLC has a 12-month low of $75.96 and a 12-month 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. The stock has a market capitalization of $114.01 billion, a price-to-earnings ratio of 24.55, a P/E/G ratio of 2.39 and a beta of 0.80.

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, topping the consensus estimate of $1.58 by $0.04. The firm had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.81 billion. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. Medtronic's revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.46 EPS. Analysts predict that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Friday, June 27th. This is a positive change from Medtronic's previous quarterly dividend of $0.70. Medtronic's payout ratio is 78.45%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MDT. Mizuho dropped their target price on Medtronic from $100.00 to $98.00 and set an "outperform" rating for the company in a report on Thursday, May 22nd. Wall Street Zen upgraded Medtronic from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a report on Friday, June 6th. Evercore ISI boosted their price objective on Medtronic from $103.00 to $106.00 and gave the company an "outperform" rating in a report on Tuesday. Finally, Royal Bank Of Canada dropped their price objective on Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a report on Thursday, May 22nd. 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's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $98.00.

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.