MJP Associates Inc. ADV Buys Shares of 6,751 Medtronic plc (NYSE:MDT)

MJP Associates Inc. ADV bought a new stake in Medtronic plc (NYSE:MDT - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,751 shares of the medical technology company's stock, valued at approximately $539,000.

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

Medtronic Price Performance

NYSE MDT opened at $83.47 on Monday. The business has a 50 day simple moving average of $86.76 and a 200 day simple moving average of $86.76. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The stock has a market cap of $107.05 billion, a price-to-earnings ratio of 25.37, a PEG ratio of 2.22 and a beta of 0.81.

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

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders 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 yield of 3.35%. The ex-dividend date was Friday, March 28th. Medtronic's dividend payout ratio (DPR) is currently 85.11%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Royal Bank of Canada reissued an "outperform" rating and issued a $105.00 price target on shares of Medtronic in a report on Wednesday, February 19th. Citigroup raised shares of Medtronic from a "neutral" rating to a "buy" rating and boosted their price target for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. UBS Group boosted 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. Robert W. Baird boosted their target price on shares of Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Finally, Truist Financial reduced their price target on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Medtronic has a consensus rating of "Hold" and a consensus target price of $96.14.

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.

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