Financial Architects Inc raised its position in Medtronic PLC (NYSE:MDT) by 800.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,081 shares of the medical technology company’s stock after buying an additional 1,850 shares during the period. Financial Architects Inc’s holdings in Medtronic were worth $188,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Watch Point Trust Co boosted its stake in Medtronic by 0.3% in the fourth quarter. Watch Point Trust Co now owns 32,723 shares of the medical technology company’s stock valued at $3,712,000 after acquiring an additional 85 shares in the last quarter. Blackhawk Capital Partners LLC. boosted its stake in Medtronic by 0.9% in the fourth quarter. Blackhawk Capital Partners LLC. now owns 9,324 shares of the medical technology company’s stock valued at $1,013,000 after acquiring an additional 85 shares in the last quarter. Valley National Advisers Inc. boosted its stake in Medtronic by 0.9% in the fourth quarter. Valley National Advisers Inc. now owns 10,064 shares of the medical technology company’s stock valued at $1,142,000 after acquiring an additional 86 shares in the last quarter. Quadrant Capital Management LLC boosted its stake in Medtronic by 0.3% in the fourth quarter. Quadrant Capital Management LLC now owns 30,517 shares of the medical technology company’s stock valued at $3,462,000 after acquiring an additional 90 shares in the last quarter. Finally, Community Bank & Trust Waco Texas boosted its stake in Medtronic by 1.6% in the fourth quarter. Community Bank & Trust Waco Texas now owns 5,912 shares of the medical technology company’s stock valued at $671,000 after acquiring an additional 92 shares in the last quarter. Institutional investors own 82.55% of the company’s stock.

MDT has been the subject of several recent research reports. Goldman Sachs Group initiated coverage on shares of Medtronic in a research note on Wednesday, February 12th. They set a “sell” rating and a $118.00 target price for the company. Credit Suisse Group decreased their target price on shares of Medtronic from $126.00 to $121.00 and set an “outperform” rating for the company in a research note on Friday, March 6th. SVB Leerink increased their target price on shares of Medtronic from $100.00 to $105.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 28th. Wells Fargo & Co cut their price target on shares of Medtronic from $130.00 to $108.00 and set an “overweight” rating for the company in a report on Wednesday, April 22nd. Finally, Cfra increased their price target on shares of Medtronic from $126.00 to $127.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-one have given a buy rating to the company. Medtronic has a consensus rating of “Buy” and a consensus price target of $115.93.

In other news, CEO Omar Ishrak bought 8,771 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were purchased at an average price of $110.87 per share, for a total transaction of $972,440.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.28% of the stock is currently owned by company insiders.

NYSE MDT traded up $0.07 during mid-day trading on Friday, reaching $93.89. 8,591,390 shares of the stock were exchanged, compared to its average volume of 6,601,821. Medtronic PLC has a 1-year low of $72.13 and a 1-year high of $122.15. The business’s fifty day simple moving average is $95.70 and its 200 day simple moving average is $106.18. The stock has a market capitalization of $125.83 billion, a PE ratio of 23.83, a PEG ratio of 2.54 and a beta of 0.69. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.28 and a current ratio of 2.75.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, February 18th. The medical technology company reported $1.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.06. Medtronic had a net margin of 17.11% and a return on equity of 14.76%. The firm had revenue of $7.72 billion for the quarter, compared to analyst estimates of $7.80 billion. During the same quarter last year, the business earned $1.29 earnings per share. Medtronic’s revenue was up 2.3% compared to the same quarter last year. On average, analysts anticipate that Medtronic PLC will post 5.16 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Friday, March 27th were given a dividend of $0.54 per share. The ex-dividend date was Thursday, March 26th. This represents a $2.16 dividend on an annualized basis and a yield of 2.30%. Medtronic’s dividend payout ratio (DPR) is currently 41.38%.

About Medtronic

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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