Meridiem Capital Partners LP Buys New Holdings in Medtronic plc (NYSE:MDT)

Meridiem Capital Partners LP bought a new position in shares of Medtronic plc (NYSE:MDT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 157,481 shares of the medical technology company's stock, valued at approximately $12,580,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MDT. Mainstream Capital Management LLC acquired a new stake in Medtronic during the fourth quarter valued at $26,000. Rakuten Securities Inc. boosted its stake in shares of Medtronic by 753.8% during the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock worth $27,000 after acquiring an additional 294 shares in the last quarter. Stephens Consulting LLC grew its position in shares of Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after acquiring an additional 204 shares during the period. Optiver Holding B.V. acquired a new stake in shares of Medtronic during the 4th quarter valued at about $31,000. Finally, Chapman Financial Group LLC purchased a new position in shares of Medtronic in the 4th quarter valued at about $33,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Robert W. Baird increased their price target on Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. Truist Financial cut their price target on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a report on Friday, April 11th. UBS Group increased their price objective on shares of Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Finally, Citigroup raised shares of Medtronic from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $96.14.

Medtronic Trading Up 0.4%

Shares of MDT stock traded up $0.30 on Friday, hitting $86.41. The stock had a trading volume of 6,506,755 shares, compared to its average volume of 6,748,975. The company's 50 day moving average price is $86.07 and its 200-day moving average price is $86.67. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The firm has a market capitalization of $110.83 billion, a P/E ratio of 26.27, a P/E/G ratio of 2.22 and a beta of 0.81.

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

Medtronic Dividend Announcement

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

Medtronic 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.