Thurston Springer Miller Herd & Titak Inc. Has $1.99 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 35.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,128 shares of the medical technology company's stock after purchasing an additional 5,737 shares during the period. Thurston Springer Miller Herd & Titak Inc.'s holdings in Medtronic were worth $1,988,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in MDT. Mainstream Capital Management LLC purchased a new position in shares of Medtronic during the fourth quarter valued at $26,000. Rakuten Securities Inc. grew its stake in Medtronic by 753.8% during the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock valued at $27,000 after acquiring an additional 294 shares in the last quarter. Wood Tarver Financial Group LLC acquired a new position in shares of Medtronic in the 4th quarter valued at about $27,000. Optiver Holding B.V. purchased a new stake in shares of Medtronic in the fourth quarter worth approximately $31,000. Finally, McIlrath & Eck LLC boosted its holdings in shares of Medtronic by 72.3% during the fourth quarter. McIlrath & Eck LLC now owns 410 shares of the medical technology company's stock worth $33,000 after purchasing an additional 172 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Performance

MDT traded up $0.38 during trading on Friday, reaching $87.38. 7,577,391 shares of the company's stock were exchanged, compared to its average volume of 6,863,545. The company has a market capitalization of $112.07 billion, a P/E ratio of 26.56, a PEG ratio of 2.22 and a beta of 0.79. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The business has a 50 day moving average price of $83.94 and a 200 day moving average price of $86.15. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week 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, beating the consensus estimate of $1.58 by $0.04. The business had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.81 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The firm's revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.46 EPS. As a group, analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be paid a $0.71 dividend. This is a positive change from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Friday, June 27th. Medtronic's dividend payout ratio is currently 78.45%.

Analyst Ratings Changes

A number of research firms have issued reports on MDT. Truist Financial cut their target price on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research report on Friday, April 11th. UBS Group raised their price target on Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and lifted their target price for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Wall Street Zen lowered shares of Medtronic from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a report on Friday. Nine research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Medtronic has a consensus rating of "Moderate Buy" and a consensus target price of $97.00.

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.