Medtronic PLC (NYSE:MDT) Shares Acquired by DLK Investment Management LLC

DLK Investment Management LLC lifted its stake in Medtronic PLC (NYSE:MDT) by 8.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 51,580 shares of the medical technology company’s stock after acquiring an additional 3,947 shares during the period. Medtronic comprises about 1.9% of DLK Investment Management LLC’s holdings, making the stock its 24th biggest position. DLK Investment Management LLC’s holdings in Medtronic were worth $4,635,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Balefire LLC raised its holdings in shares of Medtronic by 903.1% in the first quarter. Balefire LLC now owns 10,292 shares of the medical technology company’s stock worth $925,000 after buying an additional 9,266 shares during the last quarter. KPP Advisory Services LLC increased its position in shares of Medtronic by 48.9% in the 1st quarter. KPP Advisory Services LLC now owns 6,457 shares of the medical technology company’s stock valued at $580,000 after acquiring an additional 2,121 shares during the period. Penobscot Investment Management Company Inc. raised its stake in Medtronic by 4.0% in the 1st quarter. Penobscot Investment Management Company Inc. now owns 3,626 shares of the medical technology company’s stock worth $326,000 after acquiring an additional 138 shares during the last quarter. Western Wealth Management LLC lifted its position in Medtronic by 14.9% during the 1st quarter. Western Wealth Management LLC now owns 5,628 shares of the medical technology company’s stock worth $506,000 after acquiring an additional 730 shares during the period. Finally, Sabal Trust CO grew its stake in Medtronic by 3.5% during the 1st quarter. Sabal Trust CO now owns 371,212 shares of the medical technology company’s stock valued at $33,357,000 after purchasing an additional 12,704 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Friday, June 6th. Leerink Partnrs raised Medtronic to a “strong-buy” rating in a report on Monday, June 16th. Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. Wall Street Zen raised shares of Medtronic from a “hold” rating to a “buy” rating in a report on Saturday, June 21st. Finally, Robert W. Baird lowered their price target on shares of Medtronic from $94.00 to $92.00 and set a “neutral” rating on the stock in a report on Thursday, May 22nd. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $97.87.

Medtronic Stock Down 0.0%

MDT stock opened at $86.05 on Thursday. The company has a current ratio of 1.85, a quick ratio of 1.42 and a debt-to-equity ratio of 0.53. The firm has a 50-day moving average of $84.67 and a two-hundred day moving average of $86.29. Medtronic PLC has a 12 month low of $75.96 and a 12 month high of $96.25. The company has a market cap of $110.36 billion, a price-to-earnings ratio of 23.77, a PEG ratio of 2.32 and a beta of 0.79.

Medtronic (NYSE:MDT) last announced 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. The firm had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.81 billion. Medtronic had a return on equity of 14.54% and a net margin of 13.90%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.46 earnings per share. As a group, analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The company also recently declared 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 boost from Medtronic’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, June 27th. This represents a $2.84 annualized dividend and a dividend yield of 3.30%. Medtronic’s dividend payout ratio is 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.