Shepherd Financial Partners LLC Has $518,000 Stock Holdings in Medtronic PLC (NYSE:MDT)

Shepherd Financial Partners LLC grew its stake in shares of Medtronic PLC (NYSE:MDT) by 3.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,759 shares of the medical technology company’s stock after purchasing an additional 192 shares during the quarter. Shepherd Financial Partners LLC’s holdings in Medtronic were worth $518,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MDT. MONECO Advisors LLC increased its holdings in Medtronic by 1.8% during 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 lifted its stake in Medtronic by 2.7% in the fourth quarter. Faithward Advisors LLC now owns 5,043 shares of the medical technology company’s stock valued at $403,000 after acquiring an additional 134 shares during the last quarter. Vestor Capital LLC grew its position in shares of Medtronic by 0.3% in the 4th quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company’s stock valued at $4,104,000 after acquiring an additional 138 shares during the period. L. Roy Papp & Associates LLP increased its stake in shares of Medtronic by 2.8% during the 1st quarter. L. Roy Papp & Associates LLP now owns 5,099 shares of the medical technology company’s stock worth $458,000 after purchasing an additional 138 shares during the last quarter. Finally, Retirement Planning Co of New England Inc. increased its stake in shares of Medtronic by 4.9% during the 4th quarter. Retirement Planning Co of New England Inc. now owns 2,989 shares of the medical technology company’s stock worth $239,000 after purchasing an additional 139 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Mizuho cut their target price on shares of Medtronic from $100.00 to $98.00 and set an “outperform” rating for the company in a research note on Thursday, May 22nd. Robert W. Baird cut 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. Leerink Partnrs upgraded Medtronic to a “strong-buy” rating in a research note on Monday. Royal Bank Of Canada decreased their target price on Medtronic from $105.00 to $101.00 and set an “outperform” rating on the stock in a report on Thursday, May 22nd. Finally, UBS Group raised their price target on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $97.87.

Medtronic Trading Down 0.6%

MDT stock opened at $85.68 on Thursday. Medtronic PLC has a 52 week low of $75.96 and a 52 week high of $96.25. The company has a market capitalization of $109.88 billion, a PE ratio of 23.67, a price-to-earnings-growth ratio of 2.33 and a beta of 0.79. The company’s 50-day simple moving average is $84.35 and its 200 day simple moving average is $86.26. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.42 and a current ratio of 1.85.

Medtronic (NYSE:MDT) last announced its earnings results 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 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 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, sell-side analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 3.31%. 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 dividend payout ratio (DPR) is 77.35%.

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.