DecisionMap Wealth Management LLC Increases Stock Position in Medtronic PLC (NYSE:MDT)

DecisionMap Wealth Management LLC boosted its position in Medtronic PLC (NYSE:MDT) by 2.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,107 shares of the medical technology company’s stock after buying an additional 174 shares during the period. DecisionMap Wealth Management LLC’s holdings in Medtronic were worth $549,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. TCTC Holdings LLC grew its position in Medtronic by 3.4% in the 4th quarter. TCTC Holdings LLC now owns 39,718 shares of the medical technology company’s stock valued at $3,173,000 after buying an additional 1,301 shares during the last quarter. 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 buying an additional 37,265 shares during the last quarter. Oxford Asset Management LLP grew its position in Medtronic by 70.1% in the 4th quarter. Oxford Asset Management LLP now owns 7,442 shares of the medical technology company’s stock valued at $594,000 after buying an additional 3,068 shares during the last quarter. New Vernon Investment Management LLC boosted its position in shares of Medtronic by 304.9% during 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 purchasing an additional 22,300 shares in the last quarter. Finally, Advisor OS LLC boosted its position in shares of Medtronic by 152.0% during the 4th quarter. Advisor OS LLC now owns 11,800 shares of the medical technology company’s stock worth $943,000 after purchasing an additional 7,118 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Trading Down 0.6%

Shares of MDT stock opened at $85.68 on Friday. The firm has a 50-day moving average price of $84.42 and a 200 day moving average price of $86.26. Medtronic PLC has a twelve month low of $75.96 and a twelve month high of $96.25. The company has a market capitalization of $109.88 billion, a price-to-earnings ratio of 23.67, a PEG ratio of 2.31 and a beta of 0.79. 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 (NYSE:MDT) last posted its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, beating 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 company had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.81 billion. During the same quarter in the prior year, the company posted $1.46 EPS. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. Research analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders 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 3.31%. This is an increase from Medtronic’s previous quarterly dividend of $0.70. Medtronic’s dividend payout ratio is currently 77.35%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on MDT shares. Royal Bank Of Canada decreased their target price on shares of Medtronic from $105.00 to $101.00 and set an “outperform” rating on the stock in a research report on Thursday, May 22nd. Mizuho decreased their target price on shares of Medtronic from $100.00 to $98.00 and set an “outperform” rating on the stock in a research report on Thursday, May 22nd. Leerink Partners started coverage on shares of Medtronic in a research report on Monday. They set an “outperform” rating and a $110.00 target price on the stock. Citigroup upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. Finally, Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Friday, June 6th. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $97.87.

Medtronic 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.