Talbot Financial LLC Has $12.11 Million Position in Medtronic plc (NYSE:MDT)

Talbot Financial LLC increased its position in Medtronic plc (NYSE:MDT) by 1.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 134,727 shares of the medical technology company’s stock after buying an additional 1,274 shares during the period. Medtronic accounts for 1.5% of Talbot Financial LLC’s portfolio, making the stock its 26th largest holding. Talbot Financial LLC’s holdings in Medtronic were worth $12,107,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. MONECO Advisors LLC increased its holdings in Medtronic by 1.8% in the fourth quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company’s stock worth $512,000 after buying an additional 115 shares during the last quarter. Faithward Advisors LLC increased its holdings in Medtronic by 2.7% in the fourth quarter. Faithward Advisors LLC now owns 5,043 shares of the medical technology company’s stock worth $403,000 after buying an additional 134 shares during the last quarter. Vestor Capital LLC raised its position in shares of Medtronic by 0.3% in the fourth quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company’s stock valued at $4,104,000 after purchasing an additional 138 shares during the period. Retirement Planning Co of New England Inc. lifted its stake in shares of Medtronic by 4.9% in the fourth quarter. Retirement Planning Co of New England Inc. now owns 2,989 shares of the medical technology company’s stock worth $239,000 after buying an additional 139 shares during the last quarter. Finally, Alliance Wealth Advisors LLC UT lifted its stake in shares of Medtronic by 0.3% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 54,456 shares of the medical technology company’s stock worth $4,350,000 after buying an additional 145 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MDT. UBS Group raised their target price on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Citigroup upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and raised their target price for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Mizuho lowered their target price on shares of Medtronic from $100.00 to $98.00 and set an “outperform” rating on the stock in a research note on Thursday, May 22nd. Robert W. Baird lowered their target price on shares of Medtronic from $94.00 to $92.00 and set a “neutral” rating on the stock in a research note on Thursday, May 22nd. Finally, Wall Street Zen lowered shares of Medtronic from a “buy” rating to a “hold” rating in a research note on Saturday, May 24th. Nine analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $97.00.

Medtronic Stock Up 0.8%

MDT opened at $83.03 on Friday. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $106.49 billion, a price-to-earnings ratio of 25.24, a P/E/G ratio of 2.22 and a beta of 0.81. The business has a 50 day moving average of $84.19 and a 200-day moving average of $86.19.

Medtronic (NYSE:MDT) last issued its earnings results 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 analysts’ expectations of $8.81 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. Medtronic’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the business earned $1.46 earnings per share. As a group, sell-side analysts anticipate 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 given a $0.71 dividend. This is a boost from Medtronic’s previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a yield of 3.42%. The ex-dividend date is Friday, June 27th. Medtronic’s dividend payout ratio (DPR) is 78.45%.

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.