Medtronic plc (NYSE:MDT) Shares Bought by Focus Financial Network Inc.

Focus Financial Network Inc. lifted its position in shares of Medtronic plc (NYSE:MDT) by 3.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 35,945 shares of the medical technology company’s stock after purchasing an additional 1,176 shares during the period. Focus Financial Network Inc.’s holdings in Medtronic were worth $3,230,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Martin Capital Partners LLC raised its position in shares of Medtronic by 1.5% during the 1st quarter. Martin Capital Partners LLC now owns 21,374 shares of the medical technology company’s stock worth $1,921,000 after acquiring an additional 324 shares in the last quarter. Bard Financial Services Inc. grew its position in shares of Medtronic by 11.3% in the 1st quarter. Bard Financial Services Inc. now owns 34,235 shares of the medical technology company’s stock valued at $3,076,000 after buying an additional 3,480 shares during the last quarter. Leonard Rickey Investment Advisors P.L.L.C. grew its position in shares of Medtronic by 18.7% in the 1st quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 4,255 shares of the medical technology company’s stock valued at $358,000 after buying an additional 670 shares during the last quarter. USA Financial Formulas raised its stake in Medtronic by 161.1% during the 1st quarter. USA Financial Formulas now owns 7,330 shares of the medical technology company’s stock worth $659,000 after acquiring an additional 4,523 shares in the last quarter. Finally, Rowlandmiller & PARTNERS.ADV lifted its position in Medtronic by 22.3% in the first quarter. Rowlandmiller & PARTNERS.ADV now owns 15,836 shares of the medical technology company’s stock valued at $1,423,000 after acquiring an additional 2,890 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Price Performance

Medtronic stock opened at $88.01 on Thursday. The stock has a market capitalization of $112.88 billion, a P/E ratio of 26.75, a P/E/G ratio of 2.22 and a beta of 0.79. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $96.25. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The firm’s 50-day moving average is $83.99 and its two-hundred day moving average is $86.23.

Medtronic (NYSE:MDT) last issued its quarterly 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 return on equity of 14.07% and a net margin of 12.83%. The firm had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.81 billion. During the same period last year, the company earned $1.46 EPS. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. Equities analysts predict that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Increases Dividend

The company 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 $0.71 dividend. This is a positive change from Medtronic’s previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend is Friday, June 27th. Medtronic’s payout ratio is currently 78.45%.

Wall Street Analyst Weigh In

MDT has been the subject of several research reports. Truist Financial reduced their target price on Medtronic from $93.00 to $90.00 and set a “hold” rating for the company in a report on Friday, April 11th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Friday, June 6th. Wall Street Zen lowered shares of Medtronic from a “buy” rating to a “hold” rating in a research note on Saturday, May 24th. UBS Group upped their target price on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Finally, Robert W. Baird lowered their price target on Medtronic from $94.00 to $92.00 and set a “neutral” rating on the stock in a report on Thursday, May 22nd. Nine research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $97.00.

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.