Talaria Asset Management Pty Ltd Acquires Shares of 567,600 Medtronic plc (NYSE:MDT)

Talaria Asset Management Pty Ltd acquired a new position in shares of Medtronic plc (NYSE:MDT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 567,600 shares of the medical technology company's stock, valued at approximately $45,340,000. Medtronic accounts for 11.7% of Talaria Asset Management Pty Ltd's holdings, making the stock its 4th largest holding.

Several other large investors have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. acquired a new stake in shares of Medtronic during the 4th quarter worth $150,000. Sculati Wealth Management LLC grew its holdings in shares of Medtronic by 1.2% during the 4th quarter. Sculati Wealth Management LLC now owns 14,701 shares of the medical technology company's stock worth $1,174,000 after purchasing an additional 175 shares in the last quarter. Integrated Advisors Network LLC grew its holdings in shares of Medtronic by 231.8% during the 4th quarter. Integrated Advisors Network LLC now owns 48,208 shares of the medical technology company's stock worth $3,851,000 after purchasing an additional 33,678 shares in the last quarter. Hall Capital Management Co. Inc. acquired a new stake in shares of Medtronic during the 4th quarter worth $337,000. Finally, Cypress Asset Management Inc. TX acquired a new stake in Medtronic in the fourth quarter valued at about $1,409,000. Institutional investors own 82.06% of the company's stock.

Medtronic Trading Up 0.1%

MDT stock traded up $0.08 during mid-day trading on Wednesday, reaching $81.26. The company's stock had a trading volume of 7,514,297 shares, compared to its average volume of 6,817,859. The company has a market cap of $104.22 billion, a price-to-earnings ratio of 24.70, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81. The business's 50 day moving average price is $84.46 and its 200 day moving average price is $86.28. 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 plc has a 12 month low of $75.96 and a 12 month high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last issued 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 business 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% on a year-over-year basis. During the same period in the previous year, the company posted $1.46 earnings per share. On average, equities research analysts predict that Medtronic plc will post 5.46 EPS for the current 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 paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date is Friday, June 27th. This is a boost from Medtronic's previous quarterly dividend of $0.70. Medtronic's dividend payout ratio (DPR) is 78.45%.

Wall Street Analysts Forecast Growth

Several research firms have commented on MDT. Truist Financial dropped their target price on Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Mizuho dropped their target price on Medtronic from $100.00 to $98.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. UBS Group increased their target price on 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 Medtronic from $94.00 to $92.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Finally, Wall Street Zen downgraded Medtronic from a "buy" rating to a "hold" rating in a research report on Saturday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $96.07.

About Medtronic

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.