Beacon Pointe Advisors LLC increased its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 21.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 20,356 shares of the medical technology company's stock after buying an additional 3,589 shares during the period. Beacon Pointe Advisors LLC's holdings in Medtronic were worth $1,626,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Medtronic by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 124,203,387 shares of the medical technology company's stock worth $9,921,367,000 after acquiring an additional 754,395 shares during the last quarter. Capital Research Global Investors increased its position in 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 valued at $2,652,310,000 after purchasing an additional 571,700 shares during the period. Geode Capital Management LLC raised its stake in Medtronic by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 27,056,217 shares of the medical technology company's stock worth $2,155,085,000 after buying an additional 574,055 shares during the last quarter. Invesco Ltd. boosted its position in shares of Medtronic by 17.8% during the 4th quarter. Invesco Ltd. now owns 15,445,284 shares of the medical technology company's stock valued at $1,233,769,000 after purchasing an additional 2,333,600 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Medtronic in the 4th quarter valued at $1,163,580,000. Institutional investors and hedge funds own 82.06% of the company's stock.
Medtronic Trading Down 1.0 %
Shares of Medtronic stock traded down $0.85 during trading hours on Tuesday, hitting $82.60. The company's stock had a trading volume of 4,416,916 shares, compared to its average volume of 6,674,996. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25. 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 has a fifty day moving average of $87.51 and a 200-day moving average of $86.99. The stock has a market cap of $105.93 billion, a price-to-earnings ratio of 25.11, a P/E/G ratio of 2.22 and a beta of 0.81.
Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 EPS 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 business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Research analysts forecast that Medtronic plc will post 5.46 EPS for the current year.
Medtronic Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 3.39%. Medtronic's dividend payout ratio is currently 85.11%.
Analyst Ratings Changes
Several equities analysts recently weighed in on the stock. Truist Financial dropped their price target on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. Robert W. Baird upped their price target on shares of Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. 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. Citigroup raised shares of Medtronic from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $105.00 price target on shares of Medtronic in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Medtronic presently has an average rating of "Hold" and a consensus target price of $96.14.
Check Out Our Latest Analysis on MDT
About Medtronic
(
Free Report)
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.
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