Medtronic PLC (NYSE:MDT) Shares Purchased by Vontobel Holding Ltd.

Vontobel Holding Ltd. raised its position in shares of Medtronic PLC (NYSE:MDT - Free Report) by 4.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 462,165 shares of the medical technology company's stock after acquiring an additional 19,758 shares during the quarter. Vontobel Holding Ltd.'s holdings in Medtronic were worth $41,530,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. TCTC Holdings LLC boosted its stake in Medtronic by 3.4% during the 4th quarter. TCTC Holdings LLC now owns 39,718 shares of the medical technology company's stock worth $3,173,000 after purchasing an additional 1,301 shares during the last quarter. Brighton Jones LLC boosted its position in Medtronic by 1,368.0% during the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock worth $3,194,000 after acquiring an additional 37,265 shares during the last quarter. Oxford Asset Management LLP grew its stake in Medtronic by 70.1% during the 4th quarter. Oxford Asset Management LLP now owns 7,442 shares of the medical technology company's stock valued at $594,000 after acquiring an additional 3,068 shares in the last quarter. New Vernon Investment Management LLC raised 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 valued at $2,425,000 after acquiring an additional 22,300 shares during the last quarter. Finally, Argent Trust Co lifted its stake in Medtronic by 13.6% in the 4th quarter. Argent Trust Co now owns 56,020 shares of the medical technology company's stock worth $4,475,000 after purchasing an additional 6,721 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Stock Up 0.2%

MDT traded up $0.22 on Thursday, hitting $88.50. 2,989,310 shares of the company were exchanged, compared to its average volume of 6,971,637. The firm has a 50-day moving average price of $85.12 and a two-hundred day moving average price of $86.44. The company has a current ratio of 1.85, a quick ratio of 1.42 and a debt-to-equity ratio of 0.53. Medtronic PLC has a twelve month low of $75.96 and a twelve month high of $96.25. The company has a market cap of $113.50 billion, a price-to-earnings ratio of 24.45, a price-to-earnings-growth ratio of 2.40 and a beta of 0.80.

Medtronic (NYSE:MDT - Get Free Report) last released 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. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The firm had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.81 billion. During the same period in the prior year, the firm earned $1.46 earnings per share. The business's quarterly revenue was up 3.9% compared to the same quarter last year. On average, equities analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.21%. This is an increase from Medtronic's previous quarterly dividend of $0.70. Medtronic's payout ratio is presently 78.45%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MDT. Leerink Partnrs upgraded Medtronic to a "strong-buy" rating in a research report on Monday, June 16th. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research note on Friday, June 6th. Truist Financial lowered their price target on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. Leerink Partners started coverage on shares of Medtronic in a research report on Monday, June 16th. They set an "outperform" rating and a $110.00 price objective for the company. Finally, Wall Street Zen upgraded shares of Medtronic from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $97.87.

Medtronic Company 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.