Medtronic PLC (NYSE:MDT) Shares Bought by Creative Financial Designs Inc. ADV

Creative Financial Designs Inc. ADV grew its holdings in Medtronic PLC (NYSE:MDT) by 5.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 25,906 shares of the medical technology company’s stock after acquiring an additional 1,347 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in Medtronic were worth $2,328,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Mainstream Capital Management LLC purchased a new position in Medtronic in the 4th quarter worth $26,000. Burkett Financial Services LLC increased its holdings in shares of Medtronic by 185.0% in the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock valued at $26,000 after purchasing an additional 185 shares during the period. Rakuten Securities Inc. raised its stake in shares of Medtronic by 753.8% in the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 294 shares during the last quarter. Wood Tarver Financial Group LLC acquired a new stake in shares of Medtronic during the fourth quarter worth about $27,000. Finally, Optiver Holding B.V. purchased a new stake in Medtronic in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Leerink Partners began coverage on shares of Medtronic in a research report on Monday, June 16th. They set an “outperform” rating and a $110.00 price target for the company. Robert W. Baird cut their price target on Medtronic from $94.00 to $92.00 and set a “neutral” rating on the stock in a research report on Thursday, May 22nd. Leerink Partnrs upgraded Medtronic to a “strong-buy” rating in a research note on Monday, June 16th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Friday, June 6th. Finally, Royal Bank Of Canada dropped their target price on Medtronic from $105.00 to $101.00 and set an “outperform” rating on the stock in a report on Thursday, May 22nd. 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.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $97.87.

Medtronic Trading Down 0.0%

Shares of NYSE:MDT opened at $86.05 on Thursday. The business’s 50 day moving average price is $84.67 and its 200-day moving average price is $86.29. Medtronic PLC has a 1 year low of $75.96 and a 1 year high of $96.25. The firm has a market capitalization of $110.36 billion, a price-to-earnings ratio of 23.77, a price-to-earnings-growth ratio of 2.32 and a beta of 0.79. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42.

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

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.30%. This is a boost from Medtronic’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, June 27th. Medtronic’s payout ratio is presently 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.