Jefferies Financial Group Inc. Acquires 11,703 Shares of Medtronic plc (NYSE:MDT)

Jefferies Financial Group Inc. raised its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 10.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 125,499 shares of the medical technology company's stock after purchasing an additional 11,703 shares during the period. Jefferies Financial Group Inc.'s holdings in Medtronic were worth $10,025,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Guardian Wealth Advisors LLC NC boosted its stake in Medtronic by 15.5% during the 4th quarter. Guardian Wealth Advisors LLC NC now owns 3,371 shares of the medical technology company's stock valued at $269,000 after purchasing an additional 453 shares during the period. Gen Wealth Partners Inc lifted its stake in shares of Medtronic by 2.5% in the 4th quarter. Gen Wealth Partners Inc now owns 6,977 shares of the medical technology company's stock worth $557,000 after acquiring an additional 168 shares during the period. Graham Capital Management L.P. acquired a new stake in shares of Medtronic in the 4th quarter worth approximately $1,322,000. Focus Partners Wealth lifted its stake in shares of Medtronic by 100.2% in the 4th quarter. Focus Partners Wealth now owns 199,003 shares of the medical technology company's stock worth $16,345,000 after acquiring an additional 99,587 shares during the period. Finally, Forefront Analytics LLC lifted its stake in shares of Medtronic by 32.5% in the 4th quarter. Forefront Analytics LLC now owns 3,077 shares of the medical technology company's stock worth $246,000 after acquiring an additional 754 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Trading Up 0.4%

Shares of MDT stock traded up $0.30 during trading hours on Friday, reaching $86.41. 6,506,755 shares of the stock traded hands, compared to its average volume of 6,743,003. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25. The business has a fifty day moving average price of $85.93 and a 200 day moving average price of $86.61. 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 firm has a market capitalization of $110.83 billion, a PE ratio of 26.27, a PEG ratio of 2.22 and a beta of 0.81.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. On average, equities research analysts forecast that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.24%. Medtronic's dividend payout ratio is currently 85.11%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MDT. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $105.00 price target on shares of Medtronic in a research note on Wednesday, February 19th. Truist Financial reduced their price target on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Citigroup raised shares of Medtronic from a "neutral" rating to a "buy" rating and upped their price target for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. Finally, Robert W. Baird upped their price target on shares of Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Medtronic currently has a consensus rating of "Hold" and an average price target of $96.14.

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.