OneDigital Investment Advisors LLC boosted its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 495.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 82,413 shares of the medical technology company's stock after buying an additional 68,571 shares during the period. OneDigital Investment Advisors LLC's holdings in Medtronic were worth $7,406,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Burkett Financial Services LLC raised its stake in 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 purchasing an additional 185 shares during the last quarter. Rakuten Securities Inc. raised its position in shares of 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 buying an additional 294 shares during the last quarter. Wood Tarver Financial Group LLC acquired a new position in shares of Medtronic during the fourth quarter valued at about $27,000. Optiver Holding B.V. bought a new stake in shares of Medtronic in the fourth quarter valued at about $31,000. Finally, Chapman Financial Group LLC acquired a new stake in Medtronic during the fourth quarter worth about $33,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.
Medtronic Price Performance
Shares of Medtronic stock opened at $88.50 on Friday. The stock has a market capitalization of $113.50 billion, a price-to-earnings ratio of 24.45, a P/E/G ratio of 2.39 and a beta of 0.80. The firm's 50-day moving average price is $85.30 and its two-hundred day moving average price is $86.54. The company has a current ratio of 1.85, a quick ratio of 1.42 and a debt-to-equity ratio of 0.53. Medtronic PLC has a 1-year low of $75.96 and a 1-year high of $96.25.
Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results 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 14.54% and a net margin of 13.90%. The business had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.81 billion. During the same period in the previous year, the business earned $1.46 EPS. Medtronic's revenue was up 3.9% compared to the same quarter last year. On average, equities analysts predict 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. Investors of record on Friday, June 27th will be given a dividend of $0.71 per share. This is an increase from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.84 annualized dividend and a yield of 3.21%. Medtronic's dividend payout ratio is 78.45%.
Analysts Set New Price Targets
Several research firms have commented on MDT. Robert W. Baird cut their price target on Medtronic from $94.00 to $92.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Truist Financial cut 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. Leerink Partners assumed coverage on shares of Medtronic in a research note on Monday, June 16th. They set an "outperform" rating and a $110.00 price target on the stock. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a report on Friday, June 6th. Finally, Leerink Partnrs upgraded shares of Medtronic to a "strong-buy" rating in a research note on Monday, June 16th. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Medtronic presently has an average rating of "Moderate Buy" and a consensus target price of $97.87.
Read Our Latest Analysis on Medtronic
Medtronic Company Profile
(
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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