Medtronic plc (NYSE:MDT) Position Increased by Godsey & Gibb Inc.

Godsey & Gibb Inc. raised its holdings in shares of Medtronic plc (NYSE:MDT) by 3.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 240,451 shares of the medical technology company’s stock after buying an additional 7,365 shares during the period. Medtronic comprises approximately 2.1% of Godsey & Gibb Inc.’s investment portfolio, making the stock its 22nd biggest position. Godsey & Gibb Inc.’s holdings in Medtronic were worth $21,607,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in MDT. WealthBridge Investment Counsel Inc. lifted its position in Medtronic by 2.8% in the 1st quarter. WealthBridge Investment Counsel Inc. now owns 78,685 shares of the medical technology company’s stock worth $7,071,000 after buying an additional 2,145 shares in the last quarter. Persium Advisors LLC lifted its position in Medtronic by 4.6% in the 1st quarter. Persium Advisors LLC now owns 7,603 shares of the medical technology company’s stock worth $683,000 after buying an additional 337 shares in the last quarter. Intergy Private Wealth LLC lifted its position in Medtronic by 18.9% in the 1st quarter. Intergy Private Wealth LLC now owns 3,005 shares of the medical technology company’s stock worth $270,000 after buying an additional 478 shares in the last quarter. Gateway Investment Advisers LLC lifted its position in Medtronic by 0.6% in the 1st quarter. Gateway Investment Advisers LLC now owns 101,408 shares of the medical technology company’s stock worth $9,112,000 after buying an additional 608 shares in the last quarter. Finally, Butensky & Cohen Financial Security Inc. lifted its position in Medtronic by 1.2% in the 1st quarter. Butensky & Cohen Financial Security Inc. now owns 53,117 shares of the medical technology company’s stock worth $4,773,000 after buying an additional 638 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on MDT. Mizuho dropped their price target on shares of Medtronic from $100.00 to $98.00 and set an “outperform” rating on the stock in a research note on Thursday, May 22nd. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Friday. 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 note on Tuesday, March 4th. Truist Financial dropped their price target on shares of Medtronic from $93.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, April 11th. Finally, UBS Group increased their price target on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Nine research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $97.00.

Medtronic Stock Performance

Shares of MDT stock opened at $87.38 on Friday. The firm has a market capitalization of $112.07 billion, a PE ratio of 26.56, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79. The firm has a fifty day simple moving average of $83.92 and a two-hundred day simple moving average of $86.17. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25.

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, 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 net margin of 12.83% and a return on equity of 14.07%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.46 EPS. Analysts forecast that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Increases Dividend

The business also recently declared 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 is an increase from Medtronic’s previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Friday, June 27th. Medtronic’s payout ratio is 78.45%.

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.