26,053 Shares in Medtronic PLC (NYSE:MDT) Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd bought a new stake in Medtronic PLC (NYSE:MDT - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 26,053 shares of the medical technology company's stock, valued at approximately $2,341,000.

Several other large investors have also modified their holdings of the stock. Brighton Jones LLC boosted its stake in Medtronic by 1,368.0% during the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock worth $3,194,000 after purchasing an additional 37,265 shares during the period. LPL Financial LLC grew its stake in shares of Medtronic by 4.5% in the 4th quarter. LPL Financial LLC now owns 1,140,884 shares of the medical technology company's stock valued at $91,134,000 after purchasing an additional 48,749 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of Medtronic by 97.3% in the 4th quarter. Prudential Financial Inc. now owns 680,217 shares of the medical technology company's stock valued at $54,336,000 after purchasing an additional 335,430 shares during the last quarter. CoreFirst Bank & Trust purchased a new position in shares of Medtronic in the 4th quarter valued at approximately $117,000. Finally, Modern Wealth Management LLC grew its stake in shares of Medtronic by 8.9% in the 4th quarter. Modern Wealth Management LLC now owns 14,837 shares of the medical technology company's stock valued at $1,185,000 after purchasing an additional 1,212 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Wall Street Analyst Weigh In

MDT has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Medtronic from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. BTIG Research restated a "neutral" rating on shares of Medtronic in a research note on Friday, July 11th. Truist Financial lowered their price objective on Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Royal Bank Of Canada lowered their price objective on Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Finally, Mizuho lifted their price objective on Medtronic from $98.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Eleven research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $98.19.

Medtronic Price Performance

MDT traded up $0.59 during midday trading on Friday, reaching $92.91. 5,264,531 shares of the company's stock were exchanged, compared to its average volume of 7,082,213. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42. The stock has a market capitalization of $119.16 billion, a PE ratio of 25.66, a P/E/G ratio of 2.41 and a beta of 0.80. The business's 50-day moving average price is $87.04 and its 200 day moving average price is $87.56. Medtronic PLC has a 1-year low of $78.32 and a 1-year high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $0.04. The company had revenue of $8.93 billion during the quarter, compared to analysts' expectations of $8.81 billion. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The firm's quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.46 earnings per share. As a group, equities analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were issued a dividend of $0.71 per share. The ex-dividend date of this dividend was 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 dividend yield of 3.06%. Medtronic's payout ratio is 78.45%.

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.