Aurdan Capital Management LLC Takes $3.22 Million Position in Medtronic plc (NYSE:MDT)

Aurdan Capital Management LLC bought a new position in shares of Medtronic plc (NYSE:MDT - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 40,332 shares of the medical technology company's stock, valued at approximately $3,222,000. Medtronic makes up 1.2% of Aurdan Capital Management LLC's holdings, making the stock its 26th biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of MDT. Mainstream Capital Management LLC purchased a new position in shares of Medtronic in the 4th quarter valued at $26,000. Stephens Consulting LLC grew its position in shares of Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after buying an additional 204 shares during the last quarter. Rakuten Securities Inc. grew its position in shares of Medtronic by 753.8% in the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock valued at $27,000 after buying an additional 294 shares during the last quarter. Optiver Holding B.V. purchased a new position in Medtronic during the 4th quarter worth $31,000. Finally, Chapman Financial Group LLC purchased a new position in Medtronic during the 4th quarter worth $33,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Trading Up 0.4%

Shares of NYSE:MDT traded up $0.36 during mid-day trading on Friday, reaching $82.77. The stock had a trading volume of 3,136,051 shares, compared to its average volume of 6,804,471. The firm has a market cap of $106.15 billion, a PE ratio of 25.14, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81. The firm has a 50 day simple moving average of $84.30 and a two-hundred day simple moving average of $86.24. 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 twelve month low of $75.96 and a twelve month high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last released its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.04. The business had revenue of $8.93 billion during the quarter, compared to analysts' expectations of $8.81 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The firm's revenue was up 3.9% on a year-over-year basis. During the same period last year, the business earned $1.46 earnings per share. On average, research analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be paid a $0.71 dividend. The ex-dividend date is Friday, June 27th. This is a positive change from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a yield of 3.43%. Medtronic's payout ratio is 78.45%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. UBS Group raised 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. Robert W. Baird cut their price objective on shares of Medtronic from $94.00 to $92.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Royal Bank of Canada reduced their price objective on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. Citigroup raised shares of Medtronic from a "neutral" rating to a "buy" rating and raised their target price for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Finally, Wall Street Zen cut shares of Medtronic from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $96.07.

Medtronic Profile

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.