Boothbay Fund Management LLC Has $6.20 Million Stock Position in Medtronic plc (NYSE:MDT)

Boothbay Fund Management LLC lifted its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 2,439.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 77,571 shares of the medical technology company's stock after buying an additional 74,516 shares during the period. Boothbay Fund Management LLC's holdings in Medtronic were worth $6,196,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MDT. Copley Financial Group Inc. bought a new position in Medtronic in the third quarter valued at about $694,000. Franklin Street Advisors Inc. NC increased its stake in shares of Medtronic by 32.6% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company's stock valued at $5,873,000 after buying an additional 18,057 shares during the period. Olstein Capital Management L.P. raised its holdings in Medtronic by 8.0% in the 4th quarter. Olstein Capital Management L.P. now owns 94,000 shares of the medical technology company's stock valued at $7,509,000 after buying an additional 7,000 shares during the last quarter. Czech National Bank boosted its position in Medtronic by 6.4% during the 4th quarter. Czech National Bank now owns 278,065 shares of the medical technology company's stock worth $22,212,000 after buying an additional 16,786 shares during the period. Finally, Empowered Funds LLC grew its holdings in Medtronic by 2.7% during the 4th quarter. Empowered Funds LLC now owns 105,822 shares of the medical technology company's stock worth $8,453,000 after acquiring an additional 2,778 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Performance

Shares of MDT stock opened at $84.19 on Friday. The firm has a 50 day moving average of $88.14 and a 200-day moving average of $87.26. The company has a market cap of $107.98 billion, a price-to-earnings ratio of 25.59, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. 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 quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $8.33 billion. On average, equities analysts forecast that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were issued a $0.70 dividend. The ex-dividend date was Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 3.33%. Medtronic's payout ratio is currently 85.11%.

Analysts Set New Price Targets

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

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