GTS Securities LLC Decreases Stock Holdings in Medtronic plc (NYSE:MDT)

GTS Securities LLC cut its stake in Medtronic plc (NYSE:MDT - Free Report) by 83.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,483 shares of the medical technology company's stock after selling 37,857 shares during the quarter. GTS Securities LLC's holdings in Medtronic were worth $598,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Medtronic by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 124,203,387 shares of the medical technology company's stock valued at $9,921,367,000 after buying an additional 754,395 shares during the period. Capital Research Global Investors increased its holdings in Medtronic by 1.8% during the 4th quarter. Capital Research Global Investors now owns 33,203,685 shares of the medical technology company's stock valued at $2,652,310,000 after purchasing an additional 571,700 shares during the period. Geode Capital Management LLC increased its holdings in Medtronic by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 27,056,217 shares of the medical technology company's stock valued at $2,155,085,000 after purchasing an additional 574,055 shares during the period. Deutsche Bank AG increased its holdings in Medtronic by 2.1% during the 4th quarter. Deutsche Bank AG now owns 18,443,640 shares of the medical technology company's stock valued at $1,473,278,000 after purchasing an additional 372,168 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Medtronic by 17.8% during the 4th quarter. Invesco Ltd. now owns 15,445,284 shares of the medical technology company's stock worth $1,233,769,000 after acquiring an additional 2,333,600 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the company. Citigroup upgraded Medtronic from a "neutral" rating to a "buy" rating and increased their target price for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Mizuho lowered their price objective on Medtronic from $100.00 to $98.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. UBS Group lifted their target price on Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Robert W. Baird reduced 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. Finally, Truist Financial dropped 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, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Medtronic presently has a consensus rating of "Moderate Buy" and a consensus price target of $97.00.

Medtronic Stock Performance

Shares of NYSE MDT traded up $0.62 during mid-day trading on Friday, hitting $83.03. The stock had a trading volume of 11,022,726 shares, compared to its average volume of 6,808,820. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The company has a 50 day moving average of $84.19 and a two-hundred day moving average of $86.19. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25. The firm has a market cap of $106.49 billion, a PE ratio of 25.24, a PEG ratio of 2.22 and a beta of 0.81.

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

Medtronic Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be paid a $0.71 dividend. The ex-dividend date is Friday, June 27th. This is a positive change from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a yield of 3.42%. Medtronic's dividend payout ratio (DPR) is currently 78.45%.

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.