Curat Global LLC Buys Shares of 3,470 Medtronic plc (NYSE:MDT)

Curat Global LLC purchased a new position in shares of Medtronic plc (NYSE:MDT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,470 shares of the medical technology company's stock, valued at approximately $312,000.

Several other large investors have also modified their holdings of MDT. Mainstream Capital Management LLC bought a new position in shares of Medtronic during the fourth quarter worth about $26,000. Rakuten Securities Inc. raised its stake in 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 acquiring an additional 294 shares during the period. Wood Tarver Financial Group LLC acquired a new stake in Medtronic during the fourth quarter worth about $27,000. Optiver Holding B.V. acquired a new stake in Medtronic during the fourth quarter worth about $31,000. Finally, Chapman Financial Group LLC acquired a new stake in 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 topic of several research reports. 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. Truist Financial dropped their price objective 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. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research note on Friday. Wall Street Zen cut Medtronic from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Finally, Mizuho cut their price target on Medtronic from $100.00 to $98.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Nine research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Medtronic currently has an average rating of "Moderate Buy" and an average target price of $97.00.

Medtronic Price Performance

NYSE:MDT traded up $0.38 during trading hours on Friday, reaching $87.38. 7,577,391 shares of the company's stock were exchanged, compared to its average volume of 6,861,534. The company has a market capitalization of $112.07 billion, a P/E ratio of 26.56, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25. 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 business's 50-day simple moving average is $83.92 and its two-hundred day simple moving average is $86.17.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.81 billion. During the same quarter last year, the business posted $1.46 EPS. The company's revenue was up 3.9% on a year-over-year basis. Sell-side 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 paid a $0.71 dividend. This is a positive change from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date is Friday, June 27th. This represents a $2.84 dividend on an annualized basis and a yield of 3.25%. Medtronic's dividend payout ratio (DPR) is currently 78.45%.

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.