MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 4.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 100,468 shares of the medical technology company's stock after acquiring an additional 4,563 shares during the quarter. MassMutual Private Wealth & Trust FSB's holdings in Medtronic were worth $9,028,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Mainstream Capital Management LLC bought a new stake in Medtronic in the fourth quarter valued at about $26,000. Rakuten Securities Inc. increased its holdings in Medtronic by 753.8% in the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock valued at $27,000 after buying an additional 294 shares during the last quarter. Wood Tarver Financial Group LLC bought a new stake in Medtronic in the fourth quarter valued at about $27,000. Stephens Consulting LLC increased its holdings in Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after buying an additional 204 shares during the last quarter. Finally, Optiver Holding B.V. bought a new stake in Medtronic in the fourth quarter valued at about $31,000. 82.06% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts have commented on the company. Truist Financial decreased their target price on Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Wall Street Zen downgraded Medtronic from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. UBS Group lifted their target price on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research note 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 research note on Thursday, May 22nd. Finally, Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research note on Monday, May 19th. Nine investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Medtronic presently has an average rating of "Moderate Buy" and an average target price of $97.00.
Check Out Our Latest Research Report on MDT
Medtronic Stock Performance
Shares of NYSE MDT traded up $0.62 during midday trading on Friday, hitting $83.03. 11,022,726 shares of the company's stock were exchanged, compared to its average volume of 6,827,209. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The stock's 50 day moving average price is $84.19 and its 200-day moving average price is $86.20. The firm has a market cap of $106.49 billion, a P/E ratio of 25.24, a PEG ratio of 2.22 and a beta of 0.81. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25.
Medtronic (NYSE:MDT - Get Free Report) last released its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.04. The firm had revenue of $8.93 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.46 earnings per share. Equities research analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.
Medtronic Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.42%. This is an increase from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date is Friday, June 27th. Medtronic's dividend payout ratio is 78.45%.
Medtronic Profile
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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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