Medtronic PLC (NYSE:MDT) Shares Sold by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH lowered its stake in Medtronic PLC (NYSE:MDT - Free Report) by 1.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,717,751 shares of the medical technology company's stock after selling 33,238 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.13% of Medtronic worth $154,357,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MDT. Brighton Jones LLC grew its position in 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 period. Oxford Asset Management LLP raised its stake in shares of Medtronic by 70.1% during the 4th quarter. Oxford Asset Management LLP now owns 7,442 shares of the medical technology company's stock worth $594,000 after purchasing an additional 3,068 shares during the period. New Vernon Investment Management LLC increased its holdings in 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 worth $2,425,000 after acquiring an additional 22,300 shares during the last quarter. Insight Inv LLC increased its holdings in Medtronic by 84.2% in the 1st quarter. Insight Inv LLC now owns 27,456 shares of the medical technology company's stock worth $2,467,000 after acquiring an additional 12,550 shares during the last quarter. Finally, Argent Trust Co grew its holdings in Medtronic by 13.6% during the 4th quarter. Argent Trust Co now owns 56,020 shares of the medical technology company's stock valued at $4,475,000 after buying an additional 6,721 shares in the last quarter. Institutional investors own 82.06% of the company's stock.

Medtronic Stock Up 0.4%

NYSE MDT traded up $0.34 during trading hours on Thursday, hitting $92.35. The company had a trading volume of 4,786,887 shares, compared to its average volume of 7,760,070. Medtronic PLC has a fifty-two week low of $78.32 and a fifty-two week high of $96.25. The company has a market capitalization of $118.45 billion, a price-to-earnings ratio of 25.51, a P/E/G ratio of 2.38 and a beta of 0.80. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42. The firm's 50 day moving average is $86.78 and its 200 day moving average is $87.35.

Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.04. The company had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.81 billion. Medtronic had a return on equity of 14.54% and a net margin of 13.90%. The company's revenue was up 3.9% on a year-over-year basis. During the same period last year, the firm earned $1.46 earnings per share. Sell-side analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date was Friday, June 27th. This is a boost from Medtronic's previous quarterly dividend of $0.70. Medtronic's payout ratio is 78.45%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MDT shares. Citigroup boosted their price objective on Medtronic from $98.00 to $99.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. William Blair upgraded Medtronic to a "hold" rating in a report on Friday, July 11th. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research report on Friday, June 6th. BTIG Research reissued a "neutral" rating on shares of Medtronic in a research report on Friday, July 11th. Finally, Leerink Partners initiated coverage on Medtronic in a research note on Monday, June 16th. They issued an "outperform" rating and a $110.00 price objective on the stock. Eleven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $98.19.

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.