Integrated Advisors Network LLC Acquires 33,678 Shares of Medtronic plc (NYSE:MDT)

Integrated Advisors Network LLC lifted its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 231.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,208 shares of the medical technology company's stock after purchasing an additional 33,678 shares during the quarter. Integrated Advisors Network LLC's holdings in Medtronic were worth $3,851,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of MDT. MONECO Advisors LLC raised its position in Medtronic by 1.8% in the 4th quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company's stock worth $512,000 after purchasing an additional 115 shares during the period. OLD Second National Bank of Aurora increased its holdings in shares of Medtronic by 0.3% in the fourth quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company's stock worth $2,900,000 after buying an additional 121 shares during the period. McKinley Carter Wealth Services Inc. increased its holdings in shares of Medtronic by 0.7% in the fourth quarter. McKinley Carter Wealth Services Inc. now owns 19,677 shares of the medical technology company's stock worth $1,572,000 after buying an additional 129 shares during the period. Faithward Advisors LLC lifted its stake in shares of Medtronic by 2.7% in the 4th quarter. Faithward Advisors LLC now owns 5,043 shares of the medical technology company's stock valued at $403,000 after acquiring an additional 134 shares during the last quarter. Finally, Vestor Capital LLC grew its position in Medtronic by 0.3% during the 4th quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company's stock worth $4,104,000 after acquiring an additional 138 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on MDT shares. Wall Street Zen downgraded shares of Medtronic from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Truist Financial lowered their price target on Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research report on Friday, April 11th. UBS Group lifted their price objective on Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Robert W. Baird decreased their target price on Medtronic from $94.00 to $92.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Finally, Royal Bank of Canada dropped their price target on Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Nine investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Medtronic presently has an average rating of "Moderate Buy" and an average price target of $97.00.

Medtronic Stock Up 0.8%

Shares of MDT traded up $0.62 during mid-day trading on Friday, hitting $83.03. 11,022,726 shares of the company's stock were exchanged, compared to its average volume of 6,808,820. The stock's 50-day moving average is $84.19 and its 200-day moving average is $86.19. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25. The company has a market cap of $106.49 billion, a price-to-earnings ratio of 25.24, a P/E/G ratio of 2.22 and a beta of 0.81.

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, beating analysts' consensus estimates of $1.58 by $0.04. The company had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.81 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. Medtronic's quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.46 earnings per share. On average, sell-side analysts anticipate 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 issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend is Friday, June 27th. This is a positive change from Medtronic's previous quarterly dividend of $0.70. Medtronic's dividend payout ratio (DPR) is 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.