Aspiriant LLC Makes New $306,000 Investment in Medtronic PLC (NYSE:MDT)

Aspiriant LLC purchased a new position in shares of Medtronic PLC (NYSE:MDT - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,406 shares of the medical technology company's stock, valued at approximately $306,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Burkett Financial Services LLC increased its holdings in shares of Medtronic by 185.0% in the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock valued at $26,000 after purchasing an additional 185 shares during the last quarter. Mainstream Capital Management LLC acquired a new position in shares of Medtronic in the fourth quarter valued at $26,000. Rakuten Securities Inc. increased its holdings in shares of Medtronic by 753.8% in the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 294 shares during the last quarter. Wood Tarver Financial Group LLC acquired a new position in shares of Medtronic in the fourth quarter valued at $27,000. Finally, Optiver Holding B.V. acquired a new position in shares of Medtronic in the fourth quarter valued at $31,000. 82.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on MDT shares. Wall Street Zen downgraded shares of Medtronic from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Truist Financial decreased their price objective on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Leerink Partnrs upgraded shares of Medtronic to a "strong-buy" rating in a report on Monday. Robert W. Baird decreased their price objective on shares of Medtronic from $94.00 to $92.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Finally, Royal Bank Of Canada decreased their price target 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. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Medtronic currently has an average rating of "Moderate Buy" and a consensus price target of $97.87.

Medtronic Trading Down 0.6%

Shares of Medtronic stock opened at $85.68 on Thursday. The company has a market capitalization of $109.88 billion, a price-to-earnings ratio of 23.67, a PEG ratio of 2.33 and a beta of 0.79. The company has a quick ratio of 1.42, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. Medtronic PLC has a 12-month low of $75.96 and a 12-month high of $96.25. The firm's 50-day moving average price is $84.35 and its two-hundred day moving average price is $86.26.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $0.04. The firm had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.81 billion. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The business's revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.46 earnings per share. On average, analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

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

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.

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