Reliance Trust Co. of Delaware bought a new stake in Medtronic PLC (NYSE:MDT) during the first quarter, HoldingsChannel reports. The fund bought 15,715 shares of the medical technology company’s stock, valued at approximately $1,431,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hedeker Wealth LLC boosted its holdings in shares of Medtronic by 0.6% during the fourth quarter. Hedeker Wealth LLC now owns 21,039 shares of the medical technology company’s stock worth $1,913,000 after purchasing an additional 124 shares during the period. Hanson McClain Inc. boosted its holdings in shares of Medtronic by 1.7% during the fourth quarter. Hanson McClain Inc. now owns 7,321 shares of the medical technology company’s stock worth $666,000 after purchasing an additional 125 shares during the period. Abbrea Capital LLC boosted its holdings in shares of Medtronic by 3.0% during the fourth quarter. Abbrea Capital LLC now owns 4,384 shares of the medical technology company’s stock worth $401,000 after purchasing an additional 128 shares during the period. Hanson & Doremus Investment Management boosted its holdings in shares of Medtronic by 0.9% during the first quarter. Hanson & Doremus Investment Management now owns 14,416 shares of the medical technology company’s stock worth $1,313,000 after purchasing an additional 128 shares during the period. Finally, Triangle Securities Wealth Management boosted its holdings in shares of Medtronic by 1.1% during the first quarter. Triangle Securities Wealth Management now owns 12,056 shares of the medical technology company’s stock worth $1,098,000 after purchasing an additional 134 shares during the period. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Shares of MDT opened at $89.14 on Friday. The company has a quick ratio of 1.92, a current ratio of 2.36 and a debt-to-equity ratio of 0.47. Medtronic PLC has a one year low of $78.29 and a one year high of $100.15. The stock has a market capitalization of $119.24 billion, a price-to-earnings ratio of 18.69, a P/E/G ratio of 2.33 and a beta of 0.79.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 19th. The medical technology company reported $1.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.05. Medtronic had a net margin of 16.10% and a return on equity of 13.85%. The business had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.53 billion. During the same period last year, the business posted $1.17 earnings per share. Medtronic’s quarterly revenue was up 2.4% compared to the same quarter last year. Sell-side analysts predict that Medtronic PLC will post 5.15 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were issued a $0.50 dividend. The ex-dividend date was Thursday, March 21st. This represents a $2.00 annualized dividend and a yield of 2.24%. Medtronic’s dividend payout ratio (DPR) is presently 41.93%.

MDT has been the subject of a number of analyst reports. Oppenheimer set a $104.00 target price on shares of Medtronic and gave the stock a “buy” rating in a report on Wednesday, February 20th. Wells Fargo & Co dropped their target price on shares of Medtronic from $101.00 to $100.00 and set a “market perform” rating for the company in a report on Thursday, April 4th. ValuEngine lowered shares of Medtronic from a “buy” rating to a “hold” rating in a report on Monday, January 7th. Citigroup increased their target price on shares of Medtronic from $95.00 to $101.00 and gave the stock a “neutral” rating in a report on Monday, February 25th. Finally, Barclays dropped their target price on shares of Medtronic from $113.00 to $104.00 and set an “overweight” rating for the company in a report on Tuesday, January 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $103.39.

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Medtronic Profile

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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