Boothbay Fund Management LLC lifted its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 2,439.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 77,571 shares of the medical technology company's stock after buying an additional 74,516 shares during the quarter. Boothbay Fund Management LLC's holdings in Medtronic were worth $6,196,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of MDT. MONECO Advisors LLC grew its stake in Medtronic by 1.8% in the fourth quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company's stock worth $512,000 after purchasing an additional 115 shares in the last quarter. OLD Second National Bank of Aurora grew its position in shares of Medtronic by 0.3% during the 4th quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company's stock worth $2,900,000 after buying an additional 121 shares in the last quarter. McKinley Carter Wealth Services Inc. increased its stake in shares of Medtronic by 0.7% during the fourth quarter. McKinley Carter Wealth Services Inc. now owns 19,677 shares of the medical technology company's stock valued at $1,572,000 after buying an additional 129 shares during the period. Faithward Advisors LLC raised its holdings in shares of Medtronic by 2.7% in the fourth quarter. Faithward Advisors LLC now owns 5,043 shares of the medical technology company's stock valued at $403,000 after acquiring an additional 134 shares in the last quarter. Finally, Vestor Capital LLC grew its holdings in Medtronic by 0.3% during the 4th quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company's stock worth $4,104,000 after acquiring an additional 138 shares in the last quarter. Institutional investors own 82.06% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the stock. Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and boosted their price target for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. Truist Financial lowered their target price on Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a report on Friday, April 11th. Royal Bank of Canada reiterated an "outperform" rating and issued a $105.00 price target on shares of Medtronic in a report on Wednesday, February 19th. UBS Group upped their price objective on Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Finally, Robert W. Baird lifted their target price on Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. One research 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 stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $96.14.
Get Our Latest Research Report on MDT
Medtronic Stock Performance
Shares of NYSE MDT traded up $1.00 during midday trading on Friday, reaching $84.56. The company had a trading volume of 2,395,328 shares, compared to its average volume of 6,659,985. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The business's 50-day simple moving average is $87.77 and its 200 day simple moving average is $87.13. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25. The stock has a market cap of $108.45 billion, a P/E ratio of 25.71, a P/E/G ratio of 2.22 and a beta of 0.79.
Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $8.29 billion during the quarter, compared to analysts' expectations of $8.33 billion. On average, analysts forecast that Medtronic plc will post 5.46 earnings per share for the current fiscal year.
Medtronic Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.31%. The ex-dividend date was Friday, March 28th. Medtronic's payout ratio is 85.11%.
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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