58,549 Shares in Medtronic plc (NYSE:MDT) Acquired by Columbus Macro LLC

Columbus Macro LLC bought a new position in shares of Medtronic plc (NYSE:MDT) in the first quarter, HoldingsChannel reports. The firm bought 58,549 shares of the medical technology company’s stock, valued at approximately $5,261,000.

A number of other large investors have also bought and sold shares of the business. Brighton Jones LLC grew its stake in shares of Medtronic by 1,368.0% during the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after acquiring an additional 37,265 shares in the last quarter. Valeo Financial Advisors LLC grew its stake in shares of Medtronic by 3.1% during the 4th quarter. Valeo Financial Advisors LLC now owns 18,342 shares of the medical technology company’s stock worth $1,465,000 after acquiring an additional 544 shares in the last quarter. TigerOak Management L.L.C. bought a new position in shares of Medtronic during the 4th quarter worth approximately $361,000. Principal Securities Inc. grew its stake in shares of Medtronic by 24.5% during the 4th quarter. Principal Securities Inc. now owns 59,314 shares of the medical technology company’s stock worth $4,738,000 after acquiring an additional 11,658 shares in the last quarter. Finally, Allworth Financial LP grew its stake in shares of Medtronic by 42.5% during the 4th quarter. Allworth Financial LP now owns 40,408 shares of the medical technology company’s stock worth $3,549,000 after acquiring an additional 12,055 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Medtronic Trading Down 1.5%

MDT stock opened at $87.19 on Monday. 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 company has a fifty day moving average price of $84.21 and a two-hundred day moving average price of $86.26. Medtronic plc has a one year low of $75.96 and a one year high of $96.25. 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 quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, topping 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 firm had revenue of $8.93 billion during the quarter, compared to analysts’ expectations of $8.81 billion. During the same period in the previous year, the business posted $1.46 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. Equities analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 3.26%. This is a boost from Medtronic’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, June 27th. Medtronic’s payout ratio is 78.45%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MDT. Mizuho decreased their price target on shares of Medtronic from $100.00 to $98.00 and set an “outperform” rating for the company in a research note on Thursday, May 22nd. Robert W. Baird decreased their price target on shares of Medtronic from $94.00 to $92.00 and set a “neutral” rating for the company in a research note on Thursday, May 22nd. Wall Street Zen downgraded Medtronic from a “buy” rating to a “hold” rating in a report on Saturday, May 24th. UBS Group raised their target price on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and raised their target price for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Nine analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $97.00.

Medtronic 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.