Medtronic plc (NYSE:MDT) Holdings Raised by Scissortail Wealth Management LLC

Scissortail Wealth Management LLC raised its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 7,282.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,347 shares of the medical technology company's stock after buying an additional 27,963 shares during the quarter. Scissortail Wealth Management LLC's holdings in Medtronic were worth $2,264,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. MONECO Advisors LLC boosted its position in Medtronic by 1.8% during the fourth quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company's stock worth $512,000 after acquiring an additional 115 shares during the last quarter. OLD Second National Bank of Aurora boosted its position in Medtronic by 0.3% during the fourth quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company's stock worth $2,900,000 after acquiring an additional 121 shares during the last quarter. McKinley Carter Wealth Services Inc. boosted its position in Medtronic by 0.7% during the fourth quarter. McKinley Carter Wealth Services Inc. now owns 19,677 shares of the medical technology company's stock worth $1,572,000 after acquiring an additional 129 shares during the last quarter. Faithward Advisors LLC boosted its position in Medtronic by 2.7% during the fourth quarter. Faithward Advisors LLC now owns 5,043 shares of the medical technology company's stock worth $403,000 after acquiring an additional 134 shares during the last quarter. Finally, Vestor Capital LLC boosted its position in Medtronic by 0.3% during the fourth quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company's stock worth $4,104,000 after acquiring an additional 138 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Price Performance

NYSE:MDT traded down $0.78 during midday trading on Tuesday, hitting $86.19. 9,247,065 shares of the stock were exchanged, compared to its average volume of 6,760,179. Medtronic plc has a one year low of $75.96 and a one year high of $96.25. The company has a market capitalization of $110.54 billion, a price-to-earnings ratio of 26.20, a P/E/G ratio of 2.22 and a beta of 0.81. The business has a 50-day moving average price of $85.83 and a two-hundred day moving average price of $86.57. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT - Get Free Report) last released its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $8.33 billion. Sell-side analysts predict that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend was Friday, March 28th. Medtronic's dividend payout ratio is presently 85.11%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Royal Bank of Canada reiterated an "outperform" rating and issued a $105.00 price target on shares of Medtronic in a report on Wednesday, February 19th. UBS Group increased their target price on Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Truist Financial cut their target price on Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research report on Monday. Finally, Robert W. Baird lifted their target price on shares of Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target 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.