Vestmark Advisory Solutions Inc. Buys 4,338 Shares of Medtronic PLC $MDT

Vestmark Advisory Solutions Inc. increased its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 98.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,746 shares of the medical technology company's stock after acquiring an additional 4,338 shares during the quarter. Vestmark Advisory Solutions Inc.'s holdings in Medtronic were worth $786,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MDT. Burkett Financial Services LLC grew its holdings in Medtronic by 185.0% during the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock valued at $26,000 after purchasing an additional 185 shares during the period. Wood Tarver Financial Group LLC acquired a new position in Medtronic during the fourth quarter valued at approximately $27,000. Columbia River Financial Group LLC acquired a new position in Medtronic during the first quarter valued at approximately $28,000. Optiver Holding B.V. acquired a new position in shares of Medtronic in the 4th quarter valued at approximately $31,000. Finally, Hughes Financial Services LLC acquired a new position in shares of Medtronic in the 1st quarter valued at approximately $32,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

MDT has been the subject of several research analyst reports. Morgan Stanley reiterated an "overweight" rating and issued a $107.00 price objective (up from $98.00) on shares of Medtronic in a research report on Tuesday, July 15th. Robert W. Baird decreased their price objective on Medtronic from $94.00 to $92.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Citigroup boosted their price objective on Medtronic from $98.00 to $99.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Leerink Partners initiated coverage on Medtronic in a research report on Monday, June 16th. They issued an "outperform" rating and a $110.00 price objective for the company. Finally, Evercore ISI boosted their price objective on Medtronic from $103.00 to $106.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Twelve equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $98.19.

Medtronic Trading Up 1.1%

NYSE MDT opened at $92.98 on Monday. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $96.25. The stock has a market capitalization of $119.18 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 2.42 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 stock's 50 day moving average price is $89.32 and its two-hundred day moving average price is $87.96.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (EPS) for the quarter, topping 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 company had revenue of $8.93 billion for the quarter, compared to analysts' expectations of $8.81 billion. During the same quarter in the prior year, the business posted $1.46 EPS. The business's revenue was up 3.9% compared to the same quarter last year. As a group, analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be paid a dividend of $0.71 per share. The ex-dividend date is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.1%. Medtronic's dividend payout ratio is currently 78.45%.

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.

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