Vivaldi Capital Management LP Purchases Shares of 187,582 Medtronic plc (NYSE:MDT)

Vivaldi Capital Management LP purchased a new position in Medtronic plc (NYSE:MDT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 187,582 shares of the medical technology company's stock, valued at approximately $14,984,000. Medtronic makes up 2.3% of Vivaldi Capital Management LP's investment portfolio, making the stock its 9th biggest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MONECO Advisors LLC lifted its holdings in Medtronic by 1.8% in the 4th quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company's stock valued at $512,000 after acquiring an additional 115 shares during the last quarter. OLD Second National Bank of Aurora lifted its stake in Medtronic by 0.3% in the 4th quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company's stock worth $2,900,000 after acquiring an additional 121 shares in the last quarter. McKinley Carter Wealth Services Inc. boosted its stake in shares of Medtronic by 0.7% during the 4th quarter. McKinley Carter Wealth Services Inc. now owns 19,677 shares of the medical technology company's stock valued at $1,572,000 after buying an additional 129 shares during the period. Faithward Advisors LLC increased its position in Medtronic by 2.7% in the 4th quarter. Faithward Advisors LLC now owns 5,043 shares of the medical technology company's stock worth $403,000 after purchasing an additional 134 shares during the last quarter. Finally, Vestor Capital LLC raised its stake in shares of Medtronic by 0.3% during the 4th quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company's stock worth $4,104,000 after purchasing an additional 138 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Performance

Shares of Medtronic stock traded down $3.48 during trading on Thursday, reaching $80.93. The company's stock had a trading volume of 14,681,718 shares, compared to its average volume of 6,820,023. The business's fifty day moving average price is $85.54 and its 200-day moving average price is $86.56. Medtronic plc has a one year low of $75.96 and a one year high of $96.25. The firm has a market cap of $103.80 billion, a price-to-earnings ratio of 24.60, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, topping analysts' consensus estimates of $1.58 by $0.04. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The company had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.81 billion. During the same period in the previous year, the company earned $1.46 earnings per share. The company's quarterly revenue was up 3.9% compared to the same quarter last year. As a group, equities research analysts predict that Medtronic plc will post 5.46 earnings per share for the current 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 issued a $0.71 dividend. The ex-dividend date is Friday, June 27th. This is an increase from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a yield of 3.51%. Medtronic's dividend payout ratio is 85.11%.

Wall Street Analyst Weigh In

MDT has been the topic of a number of research reports. Robert W. Baird dropped their price objective on Medtronic from $94.00 to $92.00 and set a "neutral" rating on the stock in a report on Thursday. Royal Bank of Canada dropped their price target on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a research note on Thursday. UBS Group raised their price target on shares of Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a report on Monday. Finally, Mizuho lowered their target price on shares of Medtronic from $100.00 to $98.00 and set an "outperform" rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Medtronic has an average rating of "Hold" and an average target price of $96.07.

Medtronic Company Profile

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.