Inscription Capital LLC Purchases Shares of 8,531 Medtronic PLC (NYSE:MDT)

Inscription Capital LLC acquired a new stake in shares of Medtronic PLC (NYSE:MDT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,531 shares of the medical technology company's stock, valued at approximately $743,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. TCTC Holdings LLC boosted its holdings in shares of Medtronic by 3.4% in the 4th quarter. TCTC Holdings LLC now owns 39,718 shares of the medical technology company's stock worth $3,173,000 after purchasing an additional 1,301 shares during the period. Brighton Jones LLC grew its position in Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock valued at $3,194,000 after acquiring an additional 37,265 shares during the last quarter. Oxford Asset Management LLP increased its stake in Medtronic by 70.1% in the fourth quarter. Oxford Asset Management LLP now owns 7,442 shares of the medical technology company's stock worth $594,000 after purchasing an additional 3,068 shares during the period. New Vernon Investment Management LLC boosted its stake in shares of Medtronic by 304.9% during the fourth quarter. New Vernon Investment Management LLC now owns 29,613 shares of the medical technology company's stock valued at $2,425,000 after purchasing an additional 22,300 shares during the period. Finally, Advisor OS LLC grew its holdings in Medtronic by 152.0% during the 4th quarter. Advisor OS LLC now owns 11,800 shares of the medical technology company's stock worth $943,000 after acquiring an additional 7,118 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MDT. Mizuho decreased their price objective on Medtronic from $100.00 to $98.00 and set an "outperform" rating for the company in a report on Thursday, May 22nd. Truist Financial lowered their price target on Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a report on Friday, April 11th. Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and upped their price objective for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. UBS Group lifted their target price on shares of Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Finally, Wall Street Zen lowered shares of Medtronic from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $97.87.

Medtronic Stock Down 0.6%

Shares of NYSE:MDT traded down $0.49 during trading on Thursday, hitting $85.68. The company's stock had a trading volume of 8,514,360 shares, compared to its average volume of 6,904,198. The business has a 50 day moving average price of $84.35 and a two-hundred day moving average price of $86.26. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.42 and a current ratio of 1.85. Medtronic PLC has a fifty-two week low of $75.96 and a fifty-two week high of $96.25. The company has a market capitalization of $109.88 billion, a PE ratio of 23.67, a P/E/G ratio of 2.31 and a beta of 0.79.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $8.93 billion during the quarter, compared to analysts' expectations of $8.81 billion. During the same quarter in the previous year, the business earned $1.46 earnings per share. The firm's revenue for the quarter was up 3.9% on a year-over-year basis. As a group, research analysts expect that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be issued a dividend of $0.71 per share. The ex-dividend date is Friday, June 27th. This is a boost from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a yield of 3.31%. Medtronic's payout ratio is currently 77.35%.

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.