Dunhill Financial LLC Grows Stock Holdings in Medtronic PLC (NYSE:MDT)

Dunhill Financial LLC boosted its stake in shares of Medtronic PLC (NYSE:MDT) by 17.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 847 shares of the medical technology company’s stock after purchasing an additional 124 shares during the period. Dunhill Financial LLC’s holdings in Medtronic were worth $76,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Shepherd Financial Partners LLC raised its stake in Medtronic by 3.4% during the 1st quarter. Shepherd Financial Partners LLC now owns 5,759 shares of the medical technology company’s stock valued at $518,000 after buying an additional 192 shares during the last quarter. Clarius Group LLC grew its holdings in shares of Medtronic by 7.4% in the first quarter. Clarius Group LLC now owns 4,128 shares of the medical technology company’s stock worth $371,000 after acquiring an additional 285 shares during the period. Clayton Financial Group LLC purchased a new stake in Medtronic during the first quarter valued at $222,000. Demars Financial Group LLC increased its position in Medtronic by 14.4% during the first quarter. Demars Financial Group LLC now owns 859,444 shares of the medical technology company’s stock valued at $77,230,000 after acquiring an additional 108,472 shares during the last quarter. Finally, Cardinal Capital Management lifted its holdings in Medtronic by 3.8% in the first quarter. Cardinal Capital Management now owns 76,524 shares of the medical technology company’s stock valued at $6,929,000 after acquiring an additional 2,826 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

MDT has been the subject of a number of recent research reports. UBS Group boosted their price target on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Leerink Partnrs upgraded shares of Medtronic to a “strong-buy” rating in a research report on Monday. Mizuho reduced their target price on shares of Medtronic from $100.00 to $98.00 and set an “outperform” rating for the company in a report on Thursday, May 22nd. Citigroup upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and increased their price target for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. Finally, Needham & Company LLC reissued 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 assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Medtronic currently has an average rating of “Moderate Buy” and a consensus target price of $97.87.

Medtronic Price Performance

NYSE:MDT opened at $86.19 on Wednesday. The business’s 50-day simple moving average is $84.35 and its two-hundred day simple moving average is $86.27. Medtronic PLC has a 52 week low of $75.96 and a 52 week high of $96.25. The stock has a market cap of $110.54 billion, a PE ratio of 23.81, a P/E/G ratio of 2.37 and a beta of 0.79. The company has a quick ratio of 1.42, a current ratio of 1.85 and a debt-to-equity ratio of 0.53.

Medtronic (NYSE:MDT) last released its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.04. Medtronic had a return on equity of 14.54% and a net margin of 13.90%. The firm had revenue of $8.93 billion during the quarter, compared to analysts’ expectations of $8.81 billion. During the same quarter last year, the business posted $1.46 earnings per share. The firm’s revenue was up 3.9% on a year-over-year basis. As a group, analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be given a dividend of $0.71 per share. This is a positive change 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 3.30%. Medtronic’s dividend payout ratio is currently 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.