Capital Analysts LLC Grows Position in Medtronic plc (NYSE:MDT)

Capital Analysts LLC increased its position in Medtronic plc (NYSE:MDT - Free Report) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 121,300 shares of the medical technology company's stock after purchasing an additional 3,180 shares during the period. Capital Analysts LLC's holdings in Medtronic were worth $9,690,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mainstream Capital Management LLC bought a new stake in shares of Medtronic in the 4th quarter worth $26,000. Stephens Consulting LLC raised its position in Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock worth $27,000 after buying an additional 204 shares during the last quarter. Rakuten Securities Inc. lifted 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 valued at $27,000 after acquiring an additional 294 shares during the period. Fiduciary Advisors Inc. bought a new stake in shares of Medtronic in the fourth quarter worth approximately $36,000. Finally, Kieckhefer Group LLC purchased a new stake in Medtronic in the fourth quarter worth approximately $40,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Truist Financial dropped their target price on Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. Citigroup raised shares of Medtronic from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Robert W. Baird raised their target price on Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Royal Bank of Canada reiterated an "outperform" rating and set a $105.00 target price on shares of Medtronic in a research report on Wednesday, February 19th. Finally, Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Medtronic currently has an average rating of "Hold" and a consensus target price of $96.14.

Medtronic Stock Down 1.2 %

NYSE:MDT traded down $1.00 during mid-day trading on Thursday, reaching $83.76. The company's stock had a trading volume of 2,083,558 shares, compared to its average volume of 6,656,227. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25. The stock has a fifty day moving average of $87.91 and a 200-day moving average of $87.17. The firm has a market capitalization of $107.42 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.03. The company 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%. Equities research analysts forecast that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were issued a $0.70 dividend. The ex-dividend date was Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.34%. Medtronic's dividend payout ratio is presently 85.11%.

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.