Generali Investments CEE investicni spolecnost a.s. Takes $997,000 Position in Medtronic PLC (NYSE:MDT)

Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of Medtronic PLC (NYSE:MDT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,100 shares of the medical technology company's stock, valued at approximately $997,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Burkett Financial Services LLC boosted its position in shares of Medtronic by 185.0% during the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock valued at $26,000 after acquiring an additional 185 shares during the last quarter. 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 valued at $27,000 after purchasing an additional 294 shares in the last quarter. Wood Tarver Financial Group LLC purchased a new stake in Medtronic during the fourth quarter valued at $27,000. Columbia River Financial Group LLC bought a new position in Medtronic during the first quarter valued at $28,000. Finally, Optiver Holding B.V. purchased a new position in shares of Medtronic in the 4th quarter worth $31,000. Institutional investors own 82.06% of the company's stock.

Medtronic Trading Up 0.2%

Medtronic stock opened at $88.50 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.42 and a current ratio of 1.85. The stock has a market cap of $113.50 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 2.39 and a beta of 0.80. The stock has a 50-day moving average of $85.30 and a two-hundred day moving average of $86.54. Medtronic PLC has a one year low of $75.96 and a one year 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 (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $0.04. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The business had revenue of $8.93 billion during the quarter, compared to analysts' expectations of $8.81 billion. During the same quarter last year, the company posted $1.46 earnings per share. The business's quarterly revenue was up 3.9% on a year-over-year basis. On average, research analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Friday, June 27th. This is an increase from Medtronic's previous quarterly dividend of $0.70. Medtronic's dividend payout ratio is 78.45%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Mizuho dropped 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. Wall Street Zen upgraded shares of Medtronic from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research report on Friday, June 6th. Leerink Partnrs raised shares of Medtronic to a "strong-buy" rating in a research note on Monday, June 16th. Finally, Truist Financial lowered their target price on Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a report on Friday, April 11th. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $97.87.

Medtronic Company 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.

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