Point72 Asia Singapore Pte. Ltd. lowered its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 92.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,603 shares of the medical technology company's stock after selling 97,957 shares during the period. Point72 Asia Singapore Pte. Ltd.'s holdings in Medtronic were worth $607,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Brookstone Capital Management raised its position in shares of Medtronic by 11.4% in the fourth quarter. Brookstone Capital Management now owns 20,026 shares of the medical technology company's stock worth $1,600,000 after buying an additional 2,049 shares in the last quarter. Wedmont Private Capital raised its holdings in shares of Medtronic by 20.9% in the 4th quarter. Wedmont Private Capital now owns 5,802 shares of the medical technology company's stock valued at $468,000 after acquiring an additional 1,004 shares in the last quarter. Accurate Wealth Management LLC boosted its position in shares of Medtronic by 3.7% during the 4th quarter. Accurate Wealth Management LLC now owns 4,421 shares of the medical technology company's stock valued at $357,000 after acquiring an additional 159 shares during the last quarter. SeaCrest Wealth Management LLC grew its stake in Medtronic by 3.3% in the 4th quarter. SeaCrest Wealth Management LLC now owns 7,967 shares of the medical technology company's stock worth $636,000 after buying an additional 251 shares in the last quarter. Finally, Pines Wealth Management LLC bought a new stake in shares of Medtronic during the 4th quarter worth $310,000. Hedge funds and other institutional investors own 82.06% of the company's stock.
Medtronic Stock Up 0.6%
Shares of MDT stock traded up $0.50 during mid-day trading on Monday, hitting $86.94. The stock had a trading volume of 7,296,549 shares, compared to its average volume of 6,745,217. Medtronic plc has a 12-month low of $75.96 and a 12-month 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's 50-day moving average is $85.93 and its two-hundred day moving average is $86.60. The firm has a market capitalization of $111.50 billion, a P/E ratio of 26.43, a price-to-earnings-growth 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 for the quarter, topping analysts' consensus estimates of $1.36 by $0.03. The company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. On average, analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.
Medtronic Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend was Friday, March 28th. Medtronic's payout ratio is 85.11%.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on MDT shares. UBS Group boosted their price objective on shares of Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Robert W. Baird lifted their price objective on Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Citigroup upgraded Medtronic from a "neutral" rating to a "buy" rating and increased their target price for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. Truist Financial reduced their price target on Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research report on Monday. 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, Medtronic presently has a consensus rating of "Hold" and an average price target of $96.14.
View Our Latest Stock Analysis on MDT
About Medtronic
(
Free Report)
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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