Retirement Planning Co of New England Inc. Has $283,000 Stock Holdings in Medtronic PLC (NYSE:MDT)

Retirement Planning Co of New England Inc. boosted its position in shares of Medtronic PLC (NYSE:MDT) by 5.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 3,144 shares of the medical technology company’s stock after buying an additional 155 shares during the quarter. Retirement Planning Co of New England Inc.’s holdings in Medtronic were worth $283,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Medtronic by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 124,203,387 shares of the medical technology company’s stock valued at $9,921,367,000 after purchasing an additional 754,395 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Medtronic by 1.8% during the 4th quarter. Capital Research Global Investors now owns 33,203,685 shares of the medical technology company’s stock worth $2,652,310,000 after purchasing an additional 571,700 shares during the period. Geode Capital Management LLC increased its holdings in Medtronic by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 27,056,217 shares of the medical technology company’s stock worth $2,155,085,000 after acquiring an additional 574,055 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Medtronic by 7.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 22,278,023 shares of the medical technology company’s stock valued at $2,001,903,000 after purchasing an additional 1,461,841 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Medtronic by 3.8% in the first quarter. Bank of New York Mellon Corp now owns 20,680,301 shares of the medical technology company’s stock worth $1,858,332,000 after purchasing an additional 756,192 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

MDT has been the topic of several recent analyst reports. Morgan Stanley reissued an “overweight” rating and issued a $107.00 target price (up from $98.00) on shares of Medtronic in a research note on Tuesday. Wall Street Zen raised Medtronic from a “hold” rating to a “buy” rating in a report on Saturday, June 21st. Leerink Partnrs raised Medtronic to a “strong-buy” rating in a research note on Monday, June 16th. BTIG Research reissued a “neutral” rating on shares of Medtronic in a research report on Friday, July 11th. Finally, Wolfe Research raised Medtronic from an “underperform” rating to a “peer perform” rating in a research report on Monday, June 30th. Eleven research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Medtronic has an average rating of “Moderate Buy” and a consensus price target of $98.19.

Medtronic Stock Performance

Medtronic stock opened at $89.61 on Friday. The stock has a fifty day moving average of $86.29 and a two-hundred day moving average of $87.06. Medtronic PLC has a fifty-two week low of $78.32 and a fifty-two week high of $96.25. The company has a market capitalization of $114.93 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 2.33 and a beta of 0.80. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.42 and a current ratio of 1.85.

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

Medtronic Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were issued a dividend of $0.71 per share. This is a positive change from Medtronic’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, June 27th. This represents a $2.84 annualized dividend and a dividend yield of 3.17%. Medtronic’s payout ratio is presently 78.45%.

About Medtronic

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.