Aurora Private Wealth Inc. Takes $1.39 Million Position in Medtronic PLC (NYSE:MDT)

Aurora Private Wealth Inc. purchased a new position in Medtronic PLC (NYSE:MDT) in the first quarter, HoldingsChannel.com reports. The institutional investor purchased 15,443 shares of the medical technology company’s stock, valued at approximately $1,388,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Medtronic by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 124,203,387 shares of the medical technology company’s stock worth $9,921,367,000 after acquiring an additional 754,395 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Medtronic by 1.8% during the 4th quarter. Capital Research Global Investors now owns 33,203,685 shares of the medical technology company’s stock worth $2,652,310,000 after acquiring an additional 571,700 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Medtronic by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 27,056,217 shares of the medical technology company’s stock valued at $2,155,085,000 after acquiring an additional 574,055 shares during the period. Deutsche Bank AG grew its position in Medtronic by 2.1% in the 4th quarter. Deutsche Bank AG now owns 18,443,640 shares of the medical technology company’s stock valued at $1,473,278,000 after acquiring an additional 372,168 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Medtronic by 17.8% in the fourth quarter. Invesco Ltd. now owns 15,445,284 shares of the medical technology company’s stock worth $1,233,769,000 after purchasing an additional 2,333,600 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Medtronic Price Performance

NYSE:MDT opened at $86.12 on Wednesday. The firm’s fifty day moving average is $84.60 and its two-hundred day moving average is $86.29. The firm has a market cap of $110.45 billion, a price-to-earnings ratio of 23.79, a PEG ratio of 2.32 and a beta of 0.79. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.42 and a current ratio of 1.85. Medtronic PLC has a one year low of $75.96 and a one year high of $96.25.

Medtronic (NYSE:MDT) last posted its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 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 for the quarter, compared to analyst estimates of $8.81 billion. During the same period last year, the company earned $1.46 earnings per share. Medtronic’s revenue for the quarter was up 3.9% compared to the same quarter last year. Research analysts expect that Medtronic PLC will post 5.46 EPS for the current 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 $0.71 dividend. This is a boost from Medtronic’s previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a dividend yield of 3.30%. The ex-dividend date is Friday, June 27th. Medtronic’s payout ratio is currently 77.35%.

Analyst Ratings Changes

A number of analysts have recently issued reports on MDT shares. Leerink Partners started coverage on shares of Medtronic in a report on Monday, June 16th. They issued an “outperform” rating and a $110.00 price target on the stock. Citigroup raised 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 research report on Tuesday, March 4th. Mizuho lowered their price target on Medtronic from $100.00 to $98.00 and set an “outperform” rating for the company in a report on Thursday, May 22nd. Robert W. Baird reduced their price objective on Medtronic from $94.00 to $92.00 and set a “neutral” rating on the stock in a report on Thursday, May 22nd. Finally, Leerink Partnrs raised Medtronic to a “strong-buy” rating in a research report on Monday, June 16th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $97.87.

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.