Drucker Wealth 3.0 LLC Has $3.16 Million Holdings in Medtronic plc (NYSE:MDT)

Drucker Wealth 3.0 LLC reduced its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 16.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,612 shares of the medical technology company's stock after selling 7,740 shares during the quarter. Drucker Wealth 3.0 LLC's holdings in Medtronic were worth $3,164,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in MDT. Simon Quick Advisors LLC boosted its holdings in shares of Medtronic by 35.5% during the fourth quarter. Simon Quick Advisors LLC now owns 5,160 shares of the medical technology company's stock worth $412,000 after purchasing an additional 1,353 shares during the last quarter. Mutual Advisors LLC raised its holdings in shares of Medtronic by 12.7% during the 4th quarter. Mutual Advisors LLC now owns 46,168 shares of the medical technology company's stock valued at $4,024,000 after buying an additional 5,190 shares during the period. Red Door Wealth Management LLC grew its stake in shares of Medtronic by 13.8% during the fourth quarter. Red Door Wealth Management LLC now owns 4,225 shares of the medical technology company's stock valued at $337,000 after acquiring an additional 512 shares in the last quarter. Secure Asset Management LLC acquired a new position in Medtronic during the 4th quarter worth $285,000. Finally, Apeiron RIA LLC lifted its stake in Medtronic by 41.1% during the fourth quarter. Apeiron RIA LLC now owns 3,724 shares of the medical technology company's stock worth $297,000 after purchasing an additional 1,084 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Up 1.2%

Shares of NYSE:MDT traded up $0.99 during midday trading on Thursday, hitting $82.23. The stock had a trading volume of 2,854,806 shares, compared to its average volume of 6,803,566. The company has a market cap of $105.46 billion, a P/E ratio of 24.98, a PEG ratio of 2.22 and a beta of 0.81. 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 $84.46 and its 200-day simple moving average is $86.28. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $8.93 billion for the quarter, compared to analysts' expectations of $8.81 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The firm's revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.46 EPS. On average, sell-side analysts forecast that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend 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 dividend yield of 3.45%. Medtronic's dividend payout ratio (DPR) is currently 78.45%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on MDT shares. Wall Street Zen lowered shares of Medtronic from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and upped their target price for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. Mizuho decreased their price objective on shares of Medtronic from $100.00 to $98.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. UBS Group boosted their price target on shares of Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Finally, Truist Financial dropped their price objective on Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $96.07.

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.