Price T Rowe Associates Inc. MD Buys 105,263 Shares of Medtronic plc (NYSE:MDT)

Price T Rowe Associates Inc. MD grew its holdings in Medtronic plc (NYSE:MDT - Free Report) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,041,286 shares of the medical technology company's stock after purchasing an additional 105,263 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.55% of Medtronic worth $562,460,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. MONECO Advisors LLC increased its holdings in shares of Medtronic by 1.8% in the 4th quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company's stock valued at $512,000 after purchasing an additional 115 shares during the period. OLD Second National Bank of Aurora increased its stake in Medtronic by 0.3% in the 4th quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company's stock valued at $2,900,000 after buying an additional 121 shares during the period. McKinley Carter Wealth Services Inc. lifted its position in Medtronic by 0.7% in the 4th quarter. McKinley Carter Wealth Services Inc. now owns 19,677 shares of the medical technology company's stock worth $1,572,000 after buying an additional 129 shares in the last quarter. Faithward Advisors LLC boosted its stake in shares of Medtronic by 2.7% during the 4th quarter. Faithward Advisors LLC now owns 5,043 shares of the medical technology company's stock valued at $403,000 after buying an additional 134 shares during the period. Finally, Vestor Capital LLC grew its holdings in shares of Medtronic by 0.3% during the 4th quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company's stock valued at $4,104,000 after acquiring an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Price Performance

Shares of Medtronic stock traded down $0.38 during midday trading on Wednesday, hitting $84.22. 1,054,771 shares of the company were exchanged, compared to its average volume of 6,648,162. The firm has a 50 day simple moving average of $88.01 and a 200-day simple moving average of $87.19. 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 cap of $108.02 billion, a P/E ratio of 25.58, a PEG ratio of 2.22 and a beta of 0.79. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25.

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 the consensus estimate of $1.36 by $0.03. The business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. Research analysts forecast that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were given a $0.70 dividend. The ex-dividend date was Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 3.32%. Medtronic's payout ratio is 85.11%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Truist Financial lowered their target price 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. UBS Group raised their price target on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Robert W. Baird boosted their price objective on Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $105.00 target price on shares of Medtronic in a report on Wednesday, February 19th. Finally, Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and increased their price objective for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. One 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $96.14.

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.