Parr Mcknight Wealth Management Group LLC bought a new stake in Medtronic plc (NYSE:MDT - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 19,578 shares of the medical technology company's stock, valued at approximately $1,564,000.
Several other large investors have also recently bought and sold shares of MDT. Mainstream Capital Management LLC bought a new stake in Medtronic during the fourth quarter valued at $26,000. Rakuten Securities Inc. grew its stake in Medtronic by 753.8% during the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock worth $27,000 after purchasing an additional 294 shares during the period. 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 worth $27,000 after purchasing an additional 204 shares in the last quarter. Optiver Holding B.V. acquired a new position in Medtronic in the fourth quarter valued at approximately $31,000. Finally, McIlrath & Eck LLC boosted its holdings in shares of Medtronic by 72.3% during the 4th quarter. McIlrath & Eck LLC now owns 410 shares of the medical technology company's stock worth $33,000 after buying an additional 172 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research firms recently issued reports on MDT. Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and boosted their target price for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. UBS Group boosted their target price on shares of Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Robert W. Baird dropped their target price on shares of Medtronic from $94.00 to $92.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Wall Street Zen cut Medtronic from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Truist Financial reduced their price objective on Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $96.07.
Get Our Latest Research Report on Medtronic
Medtronic Stock Performance
MDT stock traded up $0.46 during midday trading on Tuesday, hitting $81.14. The company's stock had a trading volume of 8,294,287 shares, compared to its average volume of 6,817,710. The stock's 50-day moving average price is $84.84 and its 200 day moving average price is $86.35. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25. The stock has a market cap of $104.07 billion, a price-to-earnings ratio of 24.66, a PEG 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 earnings per share 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 business had revenue of $8.93 billion for the quarter, compared to analysts' expectations of $8.81 billion. During the same quarter in the previous year, the firm earned $1.46 earnings per share. The business's revenue was up 3.9% on a year-over-year basis. On average, equities analysts forecast that Medtronic plc will post 5.46 EPS for the current year.
Medtronic Increases Dividend
The firm also recently disclosed 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. The ex-dividend date is Friday, June 27th. This represents a $2.84 annualized dividend and a yield of 3.50%. This is a boost from Medtronic's previous quarterly dividend of $0.70. Medtronic's payout ratio is currently 78.45%.
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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