6,793 Shares in Medtronic plc (NYSE:MDT) Acquired by Alteri Wealth LLC

Alteri Wealth LLC bought a new stake in Medtronic plc (NYSE:MDT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 6,793 shares of the medical technology company's stock, valued at approximately $543,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Mainstream Capital Management LLC acquired a new stake in Medtronic during the fourth quarter worth approximately $26,000. Stephens Consulting LLC grew its position in shares of Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after buying an additional 204 shares during the last quarter. Rakuten Securities Inc. raised its stake in Medtronic by 753.8% during the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock worth $27,000 after acquiring an additional 294 shares in the last quarter. Optiver Holding B.V. purchased a new stake in Medtronic in the fourth quarter valued at $31,000. Finally, Fiduciary Advisors Inc. acquired a new position in Medtronic in the fourth quarter valued at $36,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

MDT has been the subject of a number of research analyst reports. Citigroup raised 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. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research report on Wednesday, February 19th. Robert W. Baird increased their price objective on Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Royal Bank of Canada reiterated an "outperform" rating and issued a $105.00 price objective on shares of Medtronic in a research report on Wednesday, February 19th. Finally, UBS Group boosted their price objective on shares of Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $96.14.

Medtronic Price Performance

NYSE:MDT traded up $0.34 during mid-day trading on Friday, hitting $83.96. 3,952,364 shares of the company's stock traded hands, compared to its average volume of 6,706,055. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25. The company has a market cap of $107.68 billion, a PE ratio of 25.52, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The firm's 50 day simple moving average is $86.95 and its 200 day simple moving average is $86.88.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The company had revenue of $8.29 billion during the quarter, compared to analysts' expectations of $8.33 billion. Sell-side analysts expect that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend was Friday, March 28th. Medtronic's dividend payout ratio (DPR) is 85.11%.

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.