Demars Financial Group LLC lifted its position in Medtronic plc (NYSE:MDT - Free Report) by 14.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 859,444 shares of the medical technology company's stock after acquiring an additional 108,472 shares during the period. Demars Financial Group LLC owned 0.07% of Medtronic worth $77,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MDT. Mainstream Capital Management LLC acquired a new stake in shares of Medtronic during the fourth quarter worth about $26,000. Burkett Financial Services LLC raised its position in Medtronic by 185.0% during the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock worth $26,000 after buying an additional 185 shares during the last quarter. Rakuten Securities Inc. lifted its stake 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 acquiring an additional 294 shares during the period. Wood Tarver Financial Group LLC purchased a new stake in shares of Medtronic in the 4th quarter valued at $27,000. Finally, Optiver Holding B.V. acquired a new stake in shares of Medtronic in the fourth quarter worth $31,000. Hedge funds and other institutional investors own 82.06% of the company's stock.
Medtronic Price Performance
MDT traded down $1.73 during midday trading on Tuesday, hitting $86.19. 6,938,434 shares of the company traded hands, compared to its average volume of 6,892,356. The business has a 50 day simple moving average of $84.33 and a two-hundred day simple moving average of $86.27. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25. The company has a market capitalization of $110.54 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 2.22 and a beta of 0.79. 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 posted its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.58 by $0.04. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The company had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.81 billion. During the same period in the previous year, the business earned $1.46 EPS. Medtronic's quarterly revenue was up 3.9% on a year-over-year basis. On average, equities analysts forecast that Medtronic plc will post 5.46 earnings per share for the current fiscal year.
Medtronic Increases Dividend
The company also recently disclosed 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. The ex-dividend date is Friday, June 27th. This represents a $2.84 dividend on an annualized basis and a yield of 3.30%. This is a positive change from Medtronic's previous quarterly dividend of $0.70. Medtronic's dividend payout ratio (DPR) is presently 78.45%.
Wall Street Analysts Forecast Growth
MDT has been the subject of a number of research reports. Mizuho decreased their target price on shares of Medtronic from $100.00 to $98.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. Truist Financial decreased their price objective on Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a report on Friday, April 11th. Robert W. Baird dropped their target price on Medtronic from $94.00 to $92.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Leerink Partners assumed coverage on Medtronic in a research report on Monday. They set an "outperform" rating and a $110.00 price target for the company. Finally, Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research report on Friday, June 6th. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Medtronic currently has a consensus rating of "Moderate Buy" and an average target price of $97.87.
Check Out Our Latest Research Report on Medtronic
About Medtronic
(
Free Report)
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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