Claris Advisors LLC MO Makes New $235,000 Investment in Medtronic plc (NYSE:MDT)

Claris Advisors LLC MO acquired a new position in Medtronic plc (NYSE:MDT) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,619 shares of the medical technology company’s stock, valued at approximately $235,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MDT. TCTC Holdings LLC boosted its holdings in Medtronic by 3.4% in the fourth quarter. TCTC Holdings LLC now owns 39,718 shares of the medical technology company’s stock worth $3,173,000 after purchasing an additional 1,301 shares during the last quarter. Brighton Jones LLC boosted its holdings in Medtronic by 1,368.0% in the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after purchasing an additional 37,265 shares during the last quarter. Oxford Asset Management LLP boosted its holdings in Medtronic by 70.1% in the fourth quarter. Oxford Asset Management LLP now owns 7,442 shares of the medical technology company’s stock worth $594,000 after purchasing an additional 3,068 shares during the last quarter. New Vernon Investment Management LLC boosted its holdings in Medtronic by 304.9% in the fourth 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 during the last quarter. Finally, Advisor OS LLC boosted its holdings in Medtronic by 152.0% in the fourth 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 during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Down 1.5%

MDT opened at $87.19 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25. The firm’s fifty day moving average is $84.21 and its 200 day moving average is $86.26. The stock has a market cap of $111.83 billion, a price-to-earnings ratio of 26.50, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79.

Medtronic (NYSE:MDT) last released its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.04. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The company had revenue of $8.93 billion for the quarter, compared to analysts’ expectations of $8.81 billion. During the same quarter in the previous year, the company earned $1.46 EPS. Medtronic’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, sell-side analysts forecast that Medtronic plc will post 5.46 earnings per share for the current fiscal 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 paid a dividend of $0.71 per share. This is a boost from Medtronic’s previous quarterly dividend of $0.70. 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 3.26%. Medtronic’s payout ratio is 78.45%.

Wall Street Analyst Weigh In

MDT has been the topic of several research reports. Wall Street Zen cut shares of Medtronic from a “buy” rating to a “hold” rating in a report on Saturday, May 24th. Mizuho dropped their target price on shares of Medtronic from $100.00 to $98.00 and set an “outperform” rating on the stock in a report on Thursday, May 22nd. Citigroup upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and raised their target price for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. UBS Group raised their target price on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Friday, June 6th. Nine equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Medtronic presently 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.