Vise Technologies Inc. Boosts Stock Holdings in Medtronic plc (NYSE:MDT)

Vise Technologies Inc. increased its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 34.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,244 shares of the medical technology company's stock after acquiring an additional 4,169 shares during the period. Vise Technologies Inc.'s holdings in Medtronic were worth $1,298,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of MDT. Mainstream Capital Management LLC acquired a new stake in Medtronic during the 4th quarter valued at $26,000. Rakuten Securities Inc. increased its holdings in shares of Medtronic by 753.8% in the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 294 shares during the last quarter. Stephens Consulting LLC raised its position in shares of Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 204 shares during the period. Optiver Holding B.V. acquired a new stake in shares of Medtronic during the 4th quarter worth about $31,000. Finally, McIlrath & Eck LLC lifted its stake 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 during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on MDT. Royal Bank of Canada lowered their price target on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. 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. 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. Mizuho lowered their price target on shares of Medtronic from $100.00 to $98.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a report on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $96.07.

Medtronic Stock Up 0.8%

Shares of MDT traded up $0.61 during trading hours on Thursday, reaching $81.85. The stock had a trading volume of 2,102,482 shares, compared to its average volume of 6,799,817. The firm has a 50-day simple moving average of $84.46 and a 200 day simple moving average of $86.28. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $104.98 billion, a price-to-earnings ratio of 24.87, a P/E/G ratio of 2.22 and a beta of 0.81.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, beating analysts' consensus estimates of $1.58 by $0.04. The firm 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 business's quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the firm earned $1.46 earnings per share. Equities research 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. Shareholders of record on Friday, June 27th will be paid a dividend of $0.71 per share. The ex-dividend date is Friday, June 27th. This represents a $2.84 dividend on an annualized basis and a yield of 3.47%. This is an increase from Medtronic's previous quarterly dividend of $0.70. Medtronic's payout ratio is 78.45%.

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.