Aurora Private Wealth Inc. acquired a new position in Medtronic PLC (NYSE:MDT - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,443 shares of the medical technology company's stock, valued at approximately $1,388,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. MONECO Advisors LLC grew its stake in shares of 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 acquiring an additional 115 shares during the last quarter. Dunhill Financial LLC boosted its holdings in Medtronic by 17.2% in the 1st quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company's stock valued at $76,000 after purchasing an additional 124 shares during the period. Petros Family Wealth LLC boosted its holdings in Medtronic by 4.3% in the 1st quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company's stock valued at $280,000 after purchasing an additional 127 shares during the period. Faithward Advisors LLC grew its position in Medtronic by 2.7% in the 4th quarter. Faithward Advisors LLC now owns 5,043 shares of the medical technology company's stock worth $403,000 after purchasing an additional 134 shares during the last quarter. Finally, Vestor Capital LLC increased its holdings in shares of 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 purchasing an additional 138 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.
Medtronic Price Performance
NYSE:MDT traded up $0.44 on Thursday, reaching $86.41. The stock had a trading volume of 10,821,631 shares, compared to its average volume of 6,963,939. The company has a quick ratio of 1.42, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $110.83 billion, a P/E ratio of 23.87, a price-to-earnings-growth ratio of 2.32 and a beta of 0.79. 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 price of $84.67 and a 200-day moving average price of $86.29.
Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, beating analysts' consensus estimates of $1.58 by $0.04. Medtronic had a return on equity of 14.54% and a net margin of 13.90%. The firm had revenue of $8.93 billion during the quarter, compared to analysts' expectations of $8.81 billion. During the same period last year, the firm posted $1.46 EPS. The business's revenue was up 3.9% on a year-over-year basis. Research analysts forecast that Medtronic PLC will post 5.46 EPS for the current year.
Medtronic Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, June 27th. This is a positive change from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.29%. Medtronic's dividend payout ratio (DPR) is 77.35%.
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. Royal Bank Of Canada lowered their price target on Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. Wall Street Zen raised Medtronic from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Truist Financial cut their target price on Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and raised their target price for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. Finally, Leerink Partnrs raised shares of Medtronic to a "strong-buy" rating in a report on Monday, June 16th. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $97.87.
Check Out Our Latest Report on Medtronic
About Medtronic
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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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