Aurdan Capital Management LLC Purchases New Shares 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 the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 40,332 shares of the medical technology company's stock, valued at approximately $3,222,000. Medtronic comprises 1.2% of Aurdan Capital Management LLC's holdings, making the stock its 26th largest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MDT. Mainstream Capital Management LLC acquired a new stake in shares of Medtronic during the fourth quarter worth about $26,000. Stephens Consulting LLC raised its position in shares of 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 purchasing an additional 204 shares during the period. Rakuten Securities Inc. raised its position in shares of Medtronic by 753.8% during the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock worth $27,000 after purchasing an additional 294 shares during the period. Optiver Holding B.V. acquired a new stake in shares of Medtronic during the fourth quarter worth about $31,000. Finally, Chapman Financial Group LLC acquired a new stake in shares of Medtronic during the fourth quarter worth about $33,000. Institutional investors own 82.06% of the company's stock.

Analyst Ratings Changes

MDT has been the subject of several recent research reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research report on Monday, May 19th. UBS Group boosted their price objective on shares of Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Royal Bank of Canada decreased their target price on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. Truist Financial lowered their price target on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Finally, Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Medtronic has an average rating of "Hold" and an average target price of $96.07.

Medtronic Stock Performance

Shares of MDT stock traded up $0.08 during trading on Wednesday, reaching $81.26. 7,514,297 shares of the company's stock were exchanged, compared to its average volume of 6,817,858. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $104.22 billion, a PE ratio of 24.70, a PEG ratio of 2.22 and a beta of 0.81. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25. The firm's fifty day moving average price is $84.64 and its 200-day moving average price is $86.31.

Medtronic (NYSE:MDT - Get Free Report) last posted its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.04. The business had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.81 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The firm's revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.46 EPS. As a group, sell-side analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be given a $0.71 dividend. This is an increase from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.84 annualized dividend and a dividend yield of 3.49%. Medtronic's dividend payout ratio is presently 78.45%.

Medtronic Company 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.