F&V Capital Management LLC Has $16.16 Million Stake in Medtronic plc (NYSE:MDT)

F&V Capital Management LLC boosted its position in Medtronic plc (NYSE:MDT) by 1.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 179,885 shares of the medical technology company’s stock after purchasing an additional 2,890 shares during the quarter. Medtronic makes up approximately 4.2% of F&V Capital Management LLC’s investment portfolio, making the stock its 8th largest holding. F&V Capital Management LLC’s holdings in Medtronic were worth $16,164,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MDT. Mainstream Capital Management LLC purchased a new stake in shares of Medtronic during the fourth quarter worth about $26,000. Burkett Financial Services LLC grew its stake in shares of Medtronic by 185.0% during the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock worth $26,000 after acquiring an additional 185 shares during the last quarter. Rakuten Securities Inc. grew its stake in shares of Medtronic by 753.8% during the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 294 shares during the last quarter. Wood Tarver Financial Group LLC purchased 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 shares of Medtronic during the fourth quarter worth about $31,000. 82.06% of the stock is currently owned by institutional investors.

Medtronic Trading Up 0.5%

Medtronic stock opened at $88.47 on Friday. 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. The stock’s 50 day simple moving average is $84.10 and its two-hundred day simple moving average is $86.25. The firm has a market cap of $113.47 billion, a PE ratio of 26.89, a P/E/G 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 the consensus estimate of $1.58 by $0.04. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The business had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.81 billion. During the same quarter in the prior year, the firm posted $1.46 EPS. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. Analysts anticipate that Medtronic plc will post 5.46 earnings per share 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 $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.21%. The ex-dividend date is Friday, June 27th. This is a positive change from Medtronic’s previous quarterly dividend of $0.70. Medtronic’s dividend payout ratio is currently 78.45%.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of research analyst reports. Royal Bank of Canada dropped their price target on Medtronic from $105.00 to $101.00 and set an “outperform” rating on the stock in a research note on Thursday, May 22nd. Robert W. Baird dropped their price target on Medtronic from $94.00 to $92.00 and set a “neutral” 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, June 6th. Mizuho dropped their price target on Medtronic from $100.00 to $98.00 and set an “outperform” rating on the stock in a research note on Thursday, May 22nd. Finally, Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and upped their target price for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Nine analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Medtronic currently has an average rating of “Moderate Buy” and an average price target 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.