Tranquilli Financial Advisor LLC Buys 455 Shares of Medtronic PLC (NYSE:MDT)

Tranquilli Financial Advisor LLC increased its stake in shares of Medtronic PLC (NYSE:MDT) by 7.0% during the 1st quarter, Holdings Channel.com reports. The fund owned 6,925 shares of the medical technology company’s stock after purchasing an additional 455 shares during the quarter. Tranquilli Financial Advisor LLC’s holdings in Medtronic were worth $622,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Dunhill Financial LLC grew its position in Medtronic by 17.2% during the 1st quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company’s stock worth $76,000 after acquiring an additional 124 shares during the last quarter. Cidel Asset Management Inc. grew its position in Medtronic by 1.3% during the 1st quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company’s stock worth $856,000 after acquiring an additional 126 shares during the last quarter. Petros Family Wealth LLC grew its position in Medtronic by 4.3% during the 1st quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company’s stock worth $280,000 after acquiring an additional 127 shares during the last quarter. Motco grew its position in Medtronic by 27.0% during the 1st quarter. Motco now owns 635 shares of the medical technology company’s stock worth $57,000 after acquiring an additional 135 shares during the last quarter. Finally, Baker Avenue Asset Management LP lifted its holdings in Medtronic by 3.1% in the 1st quarter. Baker Avenue Asset Management LP now owns 4,558 shares of the medical technology company’s stock worth $410,000 after buying an additional 136 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Royal Bank Of Canada dropped their price objective on Medtronic from $105.00 to $101.00 and set an “outperform” rating for the company in a report on Thursday, May 22nd. BTIG Research reiterated a “neutral” rating on shares of Medtronic in a report on Friday, July 11th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Friday, June 6th. Morgan Stanley reiterated an “overweight” rating and issued a $107.00 price objective (up previously from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Finally, William Blair upgraded Medtronic to a “hold” rating in a report on Friday, July 11th. Twelve analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $98.19.

Medtronic Stock Up 1.9%

Shares of NYSE:MDT opened at $92.94 on Monday. The stock has a fifty day simple moving average of $88.65 and a two-hundred day simple moving average of $87.92. The stock has a market capitalization of $119.13 billion, a price-to-earnings ratio of 25.67, a PEG ratio of 2.41 and a beta of 0.80. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $96.25. 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 announced its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.04. The business had revenue of $8.93 billion during the quarter, compared to analysts’ expectations of $8.81 billion. Medtronic had a return on equity of 14.54% and a net margin of 13.90%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.46 earnings per share. On average, research analysts anticipate 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 was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were paid a dividend of $0.71 per share. The ex-dividend date was Friday, June 27th. This is a positive change from Medtronic’s previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a yield of 3.1%. Medtronic’s dividend payout ratio (DPR) is presently 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.