14,315 Shares in Medtronic plc (NYSE:MDT) Acquired by Castlekeep Investment Advisors LLC

Castlekeep Investment Advisors LLC bought a new stake in Medtronic plc (NYSE:MDT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 14,315 shares of the medical technology company's stock, valued at approximately $1,143,000.

A number of other hedge funds have also made changes to their positions in the business. Mainstream Capital Management LLC acquired a new stake in Medtronic during the 4th quarter valued at $26,000. Rakuten Securities Inc. grew its holdings in Medtronic by 753.8% during the 4th 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 in the last quarter. Stephens Consulting LLC grew its holdings in Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 204 shares in the last quarter. Optiver Holding B.V. acquired a new stake in Medtronic during the 4th quarter valued at $31,000. Finally, McIlrath & Eck LLC grew its holdings in Medtronic by 72.3% during the 4th quarter. McIlrath & Eck LLC now owns 410 shares of the medical technology company's stock valued at $33,000 after purchasing an additional 172 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on MDT. Royal Bank of Canada lowered their price target on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a report on Thursday, May 22nd. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a report on Monday, May 19th. Citigroup raised shares of Medtronic from a "neutral" rating to a "buy" rating and raised their price target for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. Truist Financial decreased their price objective on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a report on Friday, April 11th. Finally, Wall Street Zen lowered shares of Medtronic from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $96.07.

Medtronic Stock Performance

NYSE:MDT traded up $1.15 during mid-day trading on Thursday, hitting $82.39. The stock had a trading volume of 8,093,207 shares, compared to its average volume of 6,822,937. The stock has a market capitalization of $105.66 billion, a price-to-earnings ratio of 25.04, a P/E/G ratio of 2.22 and a beta of 0.81. The company has a 50 day simple moving average of $84.46 and a 200-day simple moving average of $86.28. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25. 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 (NYSE:MDT - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, topping analysts' consensus estimates of $1.58 by $0.04. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The company had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.81 billion. During the same period in the previous year, the firm earned $1.46 EPS. Medtronic's revenue was up 3.9% on a year-over-year basis. On average, research analysts expect that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.45%. This is an increase from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, June 27th. Medtronic's payout ratio is 78.45%.

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.