Benjamin Edwards Inc. Buys 3,583 Shares of Medtronic plc (NYSE:MDT)

Benjamin Edwards Inc. grew its position in Medtronic plc (NYSE:MDT - Free Report) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 240,471 shares of the medical technology company's stock after purchasing an additional 3,583 shares during the period. Benjamin Edwards Inc.'s holdings in Medtronic were worth $19,208,000 at the end of the most recent quarter.

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

Medtronic Price Performance

NYSE MDT traded up $0.80 during trading on Wednesday, hitting $83.12. 7,441,553 shares of the company's stock were exchanged, compared to its average volume of 6,708,269. The company has a market cap of $106.60 billion, a PE ratio of 25.26, a P/E/G ratio of 2.22 and a beta of 0.81. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25. The stock's 50 day moving average price is $87.34 and its two-hundred day moving average price is $86.96.

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

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.37%. The ex-dividend date was Friday, March 28th. Medtronic's dividend payout ratio is currently 85.11%.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of recent analyst reports. Royal Bank of Canada restated an "outperform" rating and set a $105.00 target price on shares of Medtronic in a report on Wednesday, February 19th. UBS Group raised their target price on shares of Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and upped their price target for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. Finally, Truist Financial reduced their price target on Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Medtronic has an average rating of "Hold" and an average target price of $96.14.

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.